All Forum Posts by: David J.

@Alexander Felice

look at this .. these 15 units in SAME STATE are claiming maintenance of $3900 that's only $260 a unit. Even if  MY subject Apts' were $350 per unit that's only $7000/yr. How on earth are the maintenance fee's averaging $21K per year? That's over $1K on EVERY unit for EACH year .... very confusing. That's why I feel like his TAX records are faked up to avoid paying as much as he should.

Thank you :)

Here is a summary of what the deal looks like going from Tax Records

Working on buying a 20 unit apartment building. I thought all the numbers made sense on my detailed pro-forma estimates. It was hard to lose with this thing. A cash flow beast! ... then I see last 4 years of owner tax returns. Break even or lost on all 4 years 

Do I cancel the deal or do I assume he's a tax cheat and the deal is much better than it looks based on tax history?

Thank you :)

@Amanda G.  Apparently Tenants pay 100% of utilities. I put a small number for parking lot lights. I just realized there is a laundromat so now that you mention it my numbers are low. 

Hi 

I already have 6 SFH's and have been playing the SFH game since 2002. (Seriously playing since 2012)

However, I want to make the leap to Commercial. 

I have an offer approved for my first 20 unit complex.  It just hit me, whoa this is huge. My brain is playing tricks on me like "What if this back fires and undoes all the progress since 2012"

Anyone made the leap and remember this space I am in now? How did you deal with it? Any advice?

Just need to connect with someone who understands.

Working on a deal,

1. Does this look like a solid (good) deal to you?

2. Do the numbers seem like they make sense? (rural town usa, tenants pay all utilities)

3. Does the math seem accurate?

What are your thoughts about investing in remote areas of the country. Found a 20 unit apartment at a pretty hot price that is about 150 miles from the nearest big city. The population of the city it's in is only around 10K-11K

Prudent? stupid? thoughts?

@Account Closed that was an epic story. Thank you for sharing. I think I learned a lot just by reading that. Something like that would have never crossed my mind. I am shocked that the title insurance didn't kick in to your defense. Or maybe it did?

Really great share, thank you.

I just worked for a couple of months to realize my deal is a dud. Lots invested for minimal to no cash flow. 

I shared the story in another thread, but I am curious to hear your stories. Anyone else have things go sideways? 

I want to hear about folks who have gotten in over their head. Or about a deal you worked to finally get and it ends up not a good deal. 

How did you solve? Did you sell?

I think these stories can actually be motivating because we need to understand there is always risk in investing but we can grow together. The key is to LEARN and stay motivated. I am determined to fix my situation and move forward. Please tell me your stories. 

Let's hear about things that became badly screwed up!!