All Forum Posts by: Frank Wu

Thanks @Account Closed &

@Eric Michaels

for your response.

Soon after this post, I quickly learned that Washington Park is a war zone. So I'm looking into other neighborhoods.

@Account Closed

Thanks Ryan...it's in Washington Park neighborhood in Chicago.

I am considering investing in a 7-unit multi family in Chicago.

Does any BP members have any recommendation which property management company to use? Or who to avoid?

Any help is greatly appreciated!

It's not a good deal to me when you're only cash flowing $255/mo total for a triplex.

@Stewart Mjolnir

NNN is Triple Net lease, so the 3 tenants pay for insurance, prop tax, and (some) maintenance.

But the actual monthly exp is higher at $9247/mo.

NOI listed as $37,953 on Loopnet. The Pro Forma numbers are almost always hype. I'd definitely verify all the numbers.

@Sarah Lam Coming from California with 1.15% or so property tax, I was also surprised to see Houston prop tax is at 3+%, so $210 tax seems low so make sure you verify that. And like Aaron said, closing cost is definitely more than a few hundred dollars.

I'm also looking to invest in Houston, I was actually there for a week looking around just couple weeks ago...wit SFR or Multi-Family, and being out of state, a PM is a definite must. Do you mind shating which company you're working with?

Thanks everyone for such warm welcome...I will definitely keep educating myself and also contribute to the community.

How much would you pay for this warehouse building?

Total sq ft 46,780, 3 tenant, light industrial (warehouse) building.

Neighborhood comps shows $120 sq ft to $170 sq ft depending on the building size.

NNN shows the amount each tenant pays.

Acutal expense is $9247 monthly (or ~$0.20 per sq ft)

Thanks @Sarah Lam for the welcome! It's great to meet local investors.

I have one SFR in San Francisco (Richmond Dist) that I manage for my parents, one in LA area (Walnut/Rowland Heights), and one condo in Las Vegas.

My commercial property is in South San Francisco but it's being used by my business so there's no rental income.

I hope to use my earnings from my business to buy and hold more commercial properties and multi family. I have a premium Loopnet account but multi family in SF or in the Bay Area seems very expensive...have you looked elsewhere?