All Forum Posts by: Michael Logan

Renters Warehouse has done a great job for us in Nashville, and it's certainly a hot market right now.

I certainly will Terry!

Thanks Denise.  I'll definitely let u know

Oops!  Anyone is certainly welcome:  buy and hold, flippers, wholesalers, contractors, real estate agents, etc.  I'll see if I can edit the original post.  Thank you!

Is there anyone on here that may be interested in attending a Real Estate Investor Meeting in Florence, AL?  Anyone from any surrounding areas is certainly welcome: Sheffield, Tuscumbia, Muscle Shoals, Russellville, Killen, Athens, Huntsville, Madison, Decatur, etc.  Let me know!

- Michael

Hey guys!

I have a deal on the table but I need some feedback from you more experienced investors.  The deal consists of 30 units: a 10 plex, a few triplexes, and some small single family homes.  The rents are in the lower range from $275-550.  6 of the units are vacant.  

Right now the units bring in $8600 monthly, with 6 units vacant.  We have made an all cash offer at $585k, but the seller has countered at $600k.  I believe there's room to raise each rent either $25 or $50 per month, hence raising the value of the properties.  So, I have attached a few analyses here to show the numbers:  

https://www.dropbox.com/l/scl/jnkKeeuTbsZFPHKJQQlO...

Any feedback or advice is highly appreciated!

Thanks!

- Michael

Hey Danny, sorry for the delay.  I got a notification for this last week but I was driving.  

I have a friend who is looking to buy 10 houses at the moment, so you may be able to wholesale something to him if it fits his criteria.  I'll send u a colleague request now.  Good luck to u!  And thanks for posting.

-Michael

Thank you for that Mike Dymski!

Paying full asking price would definitely be too much.  I was thinking in the beginning that maybe around two million would be worth it. But, I have since met with a local investor and he was thinking more along the lines of 1.5 million.  The seller is not interested in either of those offers.

Its a great value add opportunity with low occupancy though!