All Forum Posts by: Jack Middleton

Welcome aboard. Keep checking BP. I have learned so much, and I'm sure you will get insight on any kind of investing that interests you. Take in as much as you can until you are comfortable enough to take the plunge. Just remember a goal without action is just a dream. Reach out if you would like.

Also, was your offer based on the cap rate and NOI?

Just an FYI. I just submitted an offer on a multi unit and I spoke to the broker several times about the sellers wants and needs. I tried to make it clear that i was not only out to get something, but wanted to help the seller too. I talked through an offer with him, he spoke with the seller and found out if it would. We finally submitted a written offer and we are waiting for an answer- hopefully we'll hear today.

Thanks again Duke Marquiss I proposed the second to them and that got an approval when I mentioned that she would get more cash. Now I'm contacting friends to try and sell the second. The broker still hasn't written a formal offer- I don't understand this process, I thought I could secure an offer and then shop it. Oh well. Thanks for the help.

@Duke Marquiss  That's some great information.  It sounds like you are really experienced. 

@Duke Marquiss  wow. Sounds doable after I digest that. I'm pretty new at this, but I may be able to work this. 

Thanks

could replace some appliances and a few little things later. Wife thinks some landscaping would be good to get done too

Rents are: $400 and $450. I could go to $450 and $500 right away without too much sticker shock. That would add 400 / month

She was paying some utilities too which I could have tenets pay.  I'll have to calculate it. 

Yes. The rents are below market. She hasn't raised them in a few years. I also need to improve parking and I thought about adding a cover for it. Buildings are in pretty good shape. 

yea.  I started collecting info for a funding package.  I know it's early, but that balloon concerns me a little. 

Thanks. I will work on that.