All Forum Posts by: Andy N.

I am interested in properties in TN.

William F. It was listed on the mls

It was listed for 980k I'm am purchasing for 900k. I got the sellers to agree to write me a check at closing for 21k for some repairs. It is being purchased with 20% down. Part of the down payment is funds funds from a 1031 exchange. It's a definite value add. I think I can easily raise rents $75 per unit over time. Some probably $125.

Finally closing on my 48 unit complex on Monday! It's been a LONG process but it's finally coming full circle . I appreciate the input on a couple past post I made in reference to this deal.

Marcin Chojnacki can you tell me more about the flooring? Is that laminate ? What brand? Looks awesome!

I'm a finally a week from closing on my 48 unit! It's been a long process. I'll be glad to have it done. Had a small hang up. There is a partner that has 1/8 ownership that has all of the sudden decided they don't like the price. Attorneys said they believe they have it all worked out. I'll be glad to get this closed and behind me!

This is to anyone who owns an apartment complex. How are you insuring your buildings? I have seen where they can be insured for agreed value, cash value, and replacement cost. I am curious how you all are doing it? I will be closing on a 48 unit soon. I always like to hear what others are doing. Thanks in advance. Andy

Mike Dymski this complex currently has a part time onsite and a property manager. I think it's to expensive. I wonder about doing away with one?

Probably a stupid question but here goes. What does it mean to "vote" on a post?

John Casmon I started when I was 20 I believe. I purchased a duplex as my first investment. Since then I have I guess semi flipped a few properties. By this I mean, I would purchase, rehab, and rent. I would then sell after a while and upgrade. I have pretty consistently maintained a 4-8 unit portfolio. I have sold my "starter" properties. The ones that I am holding are the better properties that I have owned. I have always wanted to get into apartments. They just don't come available very often in my area. I had pictured buying something 10-20 units. This property came on the market and i figured I would take a look. I liked what I saw and began negotiations. I am having my inspection next week. Hopefully everything will go good and I'll be ready to order the appraisal.