All Forum Posts by: Mety K.

Thank you Kali.

HI - I'm closing on my first property in 2 days. I did a final walk through inspection today and the place smells excessively! What should I do? The agent thinks the smell maybe from a dead mice or squirrel and that I should contact an exterminator to take care of the problem.

Anyone have had a similar situation? 

Do I go to the seller and ask a refund? 

Thanks!

hi - I’m interested- can we talk soon? What’s the HaO fee? I can be reached at 732-207-7285.

Hello,

I'm new at this :) found a deal that I want to make an offer on. It won't last so any quick response from BP family is appreciated!

The listing agent showed me the place today. Should I make the offer using the seller's agent? or should I use a buyer's agent? What are the advantages and risks if I made the offer using the listing agent?

Thanks!

@mattlefebvre

Matt, thank you for your input. The building though old is in good shape. I have to still do a professional inspection. I’m told the roof is recently replaced. As for the 25 year mortgage, good point. Will look into it. 

Will increase my vacancy rate.

Is a 5% capital expenditures too low?

Mety

Is a cap rate of 5% ok or should I reserve cap rate of 10%?

Hi, I'm a newbie in apartments and looking to make this offer in this offer. Any advise is extremely appreciated. Built around 1915. 10 Unit, 3 story, 1 commercial and 9 tenants. Rent is on the low end presently. Super lives on site and collects rent, takes garbage & minor repairs. I've still allocated 10% for prop mgmt fee. 

Saw property, its in Newark NJ. Quiet street. I've estimated the repair to be $20K -- just to modernize the property. Otherwise, in great shape, as it is a true 2006.  Checked rentals in the area -- about $1500 per month.  Should I go for it?? Obviously Id' love to offer less than $229K.

Thanks ! Will be checking the place today. I'm sure the repair cost is much closer to your estimate. It is a newer property, I've verified the county website -- but not in the best part of town. 

Thanks @Will Barnard and @Geoffrey Schaeffer.  

I am going to do all that you suggested to get a better rental estimate. 

Everyone seems skeptical about the numbers - and I am glad. I will redo the analysis. Honestly, I have not seen the property yet (schedule to do so today / tomorrow) and will get a better idea about repair cost, lawn care etc.  Geoffrey, come back to Jersey, we still won't charge for pumping your gas.