All Forum Posts by: Dante Pirouz

Not in Oakland but in St. Clair County...happy to connect!

I love deals that have been sitting on the market for a long time. Often the property is not being marketed correctly (mistakes in the listing, commercial property listed as a residential, horrible pics/description, mold/sewage/bugs or any other issue that can be fixed with time and money). This means that the seller is ready to come to terms and deal. All that matters is if my analysis says that there is value and what the selling price has to be to make the deal work for me and the seller. I bought a property that was on the market for 2 years and dropped from $50K to $20K because it was zoned as a commercial office although it was a 2 bedroom house on the other edge of a nice neighborhood. It was a probate property and the family did not live nearby or want to be bothered with holding it anymore. We bid $12K and got it for $15K. Now it is rented for $850/mo with less than $15K rehab. So the longer it is on the market is no problem for me!

@Brandon Schlichter and are the rest of the 90 units SFRs?

$150 non refundable deposit per pet and $10/mo/pet added to the rent. I have had very few tenants clain a support animal so I don't think that should stop you from charging extra.

@Brandon Schlichter I absolutely love your post...are all of your units small multi's or do you and/or will you move to larger (5+) multi's?

Our HVAC company asks for 50% down to start because alot of equipment has to be purchased. Other vendors like roofing, electrical we pay once the job is done. Just depends...

@Jeffrey Jardine by the way I'm sorry to tell you but a vast majority in private sector esp. mid/low level jobs don't do a whole lot either all day (I teach/research at a business school, so I know)...that's just the nature of work today unfortunately...nothing special about that across the board but when you commit to pay, IMO YOU SHOULD PAY (especially if this is someone protecting and patrolling my community/shores like Coast Guard (we have a lot of Coast Guard here protecting us from the "smuggling Canadians" on Lake Huron)...isn't that what we try to teach our tenants and our kids?? ;) Just saying!

@Denny R.  Yes this is in Port Huron, MI. The rents are $725 and $745 for 2bedroom/1 bath 800sf each

No let them bring their own otherwise you may be responsible for repairs in the future. 

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $55,000
Cash invested: $5,000

Brick Tudor Duplex with Seller Financing

What made you interested in investing in this type of deal?

It was a solid building for a good price

How did you find this deal and how did you negotiate it?

Seller wanted to sell for nearly 2 years and had no takers.

How did you finance this deal?

Seller financing

How did you add value to the deal?

New light fixtures, toilets, washer/dryer coin laundry in the basement.

What was the outcome?

Fully rented