All Forum Posts by: James Maradits

Make sure you really evaluate this deal. It doesn't sound like there is a ton of fudge room with the current numbers if you were to run into any problems or if it were to sell on the low end of your estimated ARV.

Cool idea.  I respect the ethics and definitely agree that it will help to draw an ideal tenant base to you.

I'm not sure what your HVAC, plumbing, electrical set up is like in your building, but there are plenty of energy efficient solutions for things like hot water, thermostats, etc.  I recently put an electric tankless water heater in at my house and love it.  Probably won't do you much good for 20 units, but maybe for the laundry room or shared space.

Is there an opportunity to use some of the roof space for solar to use in the common areas?  Are you in a metropolitan area?  I think electric cars are going to continue to become more popular in the cities, maybe having a charging station for tenants would be appealing.

FHA loans require a more strict set of inspection and appraisal guidelines. I've had experience with FHA requiring tedious repairs such as adding hand rails to small sets of steps, painting the floor, walls, and ceilings in basements, and other things that perhaps the seller is unwilling to do.

That tenant situation is crazy!

It seems like it should be illegal.  I could see many situations where someone undergoing foreclosure could use that to their advantage in a malicious way.

Congrats!  Great strategy

I'm treating myself to real estate classes to get my license with a portion of the proceeds from my last deal.

**By no means do I want to discredit the work agents put in to sell a house and I understand every situation varies greatly**

With that being said, I just sold a property without the help of a selling or buying agent.  For sale by owner and I found the buyer myself.  I found a good title company and real estate attorney who frequently worked together and they walked me through the process.  It was quite easy, actually.  I covered closing costs and I only paid roughly 1.5% in fees selling opposed to 6-7% selling with realtors.

If you have a buyer lined up, I'd say go for it.  If it falls through, you may find it helpful to sell with an agent.

If it's a great deal, chances are someone else realizes that too.  I ran into the same problem.  I put out a number of at or above asking price cash offers last year, only to get out bid, sometimes by up to an additional 50% over asking price.  Understanding that the market in my area is extremely competitive in it's current state, I bid my highest and best right away.

 Much respect!  My goals are very similar and it's awesome to hear your story.

I'd say always include appliances.  Gives a much more complete look and many home buyers don't have the will or ability to buy appliances and deal with moving.