All Forum Posts by: Josh Anderson

It's all one building. And not zoned to be sold each. But I guess I could change the unit amount. However, if the requirements have it as 4, in the start of the project its very obvious that there are 6 

Should I be looking in bp or Google? 

Welcome! Happy to have you here. There may be some information on the learning section. I am learning the ropes around here too. But podcast way for some really great stuff.

Calling all those lucky dogs that have ran down this road with a property!

Looking for advice on documents and past experiences on this creative financing. 

Do's and Don't's and anything I should prepare for.

Thanks in advance. 

Well, I would roll the 120k in with the renovations if I went down that path. Anyone have any other typical financing on this?

Anyone ever worked one of these with only redoing 4 units? 

Dear BP!

So after reading, and watching, and more reading. A deal I think fell in my lap. 

The quick and dirty.

6 units, each is a 2-1, street parking in a up and coming area. Rent goes for 750-800 in the heart of Birmingham. And called a few other multi-unit in the area on prices. HUD pays that or close to that so my income amount should be pretty sure.

Taxes are 1200 a year, needs around 80k in rehab which IF i were to do it I could cut it down to 60ish.

Owner wants 20k a unit and is after we hit off to well, is willing to carry a 100k note with 20kish down.

All the units have their own meters and such, so no items on the monthly besides the insurance and vacancy.

Questions, thoughts. I kinda have the "I've been chosen" feelings very excited. And after running the numbers and even after a 50% cut it comes out great. However, would it make a 203k loan. As I said very new and hoping for insight. 

Thanks in advance.

@Jeffery Griggs 

Would love to get together and pick your brain on what you have down thus far. I fear the investment get off my *** bug has bit me pretty hard

@Cory Calvin

They are here and there, did two last year and have one set up for this year.

Hi all of BP!

I just recently joined for having a fire lit under me with Rich Dad Poor Dad, and I found off this site the warnings to avoid the "program" they offered. So, off to learn it myself. Very happy to have all of ya'll.

I currently own and operate a remodeling and log home repair business. Married, one kid and another in the works. 

I am looking for education, my first investment, and a adviser in the Birmingham Alabama area.

Look forward to connecting and learning