All Forum Posts by: Account Closed

Amish Tolia: Thank you for the good advise.  I appreciate all these helpful tips and comments!

Thanks Lee.  I appreciate your detailed explanations.

Very, very helpful Rebecca, Thank you!

Thank you Rebecca and Chris.

This is very helpful information!

Would you say that a rather nice, well maintained 4-plex in a C area would be a B in a C area?

Any other ides and/or comments will be welcomed as well.

How can I find out what class an apartment complex belongs to, both the building and the neighborhood?

Hi Jay,

I finally found the post and find that the MTNs I work with have nothing to do with Mtn. View, so the alert i got led me astray.  Sorry about that.

MTNs are billion dollar investments,, so I don't think they are what you are looking for.  However, I do do have a suggestion for you and all that have posted on this page.  

Have you thought of buying far away where prices are low?  Here in Sanford FL, where I live, multi-families are quite reasonable.  I am direct to a seller right now that has two four-plexes he wants to sell.  Each has 4 2/2 apartments.  They have a fairly high turnover, but always have people on the waiting list, hoping for one of the apartments.  Some of the apartments are rented to long-term tenantss, but a few are not.  

I haven't been able to get his financials yet, because he is a busy  man and does his own property management.  This usually means, as it does in this case, that he hasn't kept his account books very well.  He says he can't give me a price, occupancy, income or expenses until he gets his paperwork done and finishes his tax return.

My suggestion for buying at a distance is to hire a nationwide property managing company that will be able to take care of your properties at a small percentage of your income, that will leave you with a good income for yourself after subtracting all expenses, with basically no work on your part.  I don't know yet whether or not I will find these two 4-plexes able to do that.  It will depend on his income, occupancies and expenses,  If any of you are interested, I can keep you informed on what I find out and then what I decide.  I can also send you a link for each of the properties, so that you can look them up on the web.

Jeraldine Fitzgerald

Hi Hugh,

Makes me homesick to think of Australia.  I've been there several time, longest stay was 3 months.  The Goldcoast is beautiful!

I am wondering if I could be a help to you. I recently joined a small group that is direct with nationwide banks. These banks have REO's (bank owned properties taken back in foreclosures) that they are always eager to get rid of, but especially so at the end of the year, for tax purposes. They sell them cheap, just to clear their inventory.

There are no maximum or minimum restricctions on orders. You just have to fill in a non-binding LOI (letter of interest) and submit it along with soft proof that you have sufficcient funds to ccover the order. Then we search the inventory of all these banks and get bacck to you with what we feel best fits your order. You than have about 14 days to do your due diligence and decide whether or not you want to buy. If you do, the closing is very quick.

If you would be interested please send me an email (see below) and I will get an LOI form off to you right away.

Jeraldine

Thanks Adrian,

I am new to Bigger Pockets and to forums, but am learning a lot.  I appreciate any help I can get and will look up the other posts.

Jeraldine

That really helps Rick.  Thank you so much.  I will google Dyches Boddiford and Jack Shea today!

Good advise Joe!  Thanks.

I wondered because I was warned that, if someone got hurt and possibly died on my property I could be sued for everything I had, and if they could get to where the money was they could take it all. That was the reason given for having separate LLC's and not having the same LLC handle the money as owned the title to the property.

Has anyone had or heard of such a  problem?