All Forum Posts by: Eddie Werner

If your investment return will be greater than the debt interest rate, invest.  

Is it a flat roof or a pitched roof, even a flat roof re-done can have issues if not done right.  Have a mason inspect the brick exterior, failing lintels or joints that need pointed could be bigger ticket items plus can allow water pentration if you are not aware of them.  Whenever I by more than 2 units under one roof it takes about 2 years for all issues to present themselves.  Make sure you know all capex items from inspection or walking property with a good contractor and you will have the monthly rent income to offset maintenance suprises.  When you saw all the units did you ask tenants if they have any maintenace issues that need addressed?  That's the easiest way to quickly see what repairs are needed.

@Gabe G. do you know anyone a little south of you that would cover this area?

The terms and the deal to make sure your investment is protected by a solid asset.  The experience and track record of who you are investing with.  You may want to talk with the attorney drawing up the mortgage and note and review it in advance to ask questions and understand all terms.

I would make everyone equal equity partners in a LLC. 1/3 to each. Talk to an entity attorney though and they can guide you on best entity to choose after you explain your situation.

I would start by looking up the addresses on the county real estate website to find out where the tax bills are mailed and start by mailing a letter there.

What does your receipt/warranty document say?  You may need to find a local attorney who specializes in construction law to help.  Sounds like it would be worth the $100-$200 consultation fee as opposed to spending thousands more......

Buy and hold as a rental.  If this would be your first flip odds are against you it will be over budget and a longer time frame to complete.  Unless you partner with someone that has flipped before to reduce your risk I would just keep it as a rental.  Long term perpetual monthly income over a one time pay day.

That's pretty spot on what the market is currently charging.  I am paying 6% for 20 year commercial loans with 5 year rate resets.

$6,500 seems really steep but maybe it's normal for your market.  In Pittsburgh I pay $2,000 for new AC/coil.  Tenant's can't with hold rent as you supplied a temporary solution until a service tech is available.