All Forum Posts by: Nick Bleser

Hi folks!

There is a property available in my town that is 3-4plex's. It's listed for $600,000 and could bring in $84,000 in gross income. After our best estimation with the info we have available we believe it could cash flow bringing in $1,500 net a month. 

So far I've talked to 2 smaller banks and because it's more than 5 units it's considered commercial. Since it's commercial I can't get a fixed rate. Is this the case with all lenders? 

I recently listened to "The Real Estate Guys" and they made a great comment about avoiding adjustable interest rates when approaching a downturn in the market and frankly I want a fixed rate. Can I find a 20-30 year fixed loan on a property this size?

People are talking about the real estate market changing. We know it cycles but how does that effect the buy and hold investors? If the market is going to turn soon how can the market effect properties I've already bought and plan to hold? Can it effect the pool of renters?

People are talking about the real estate market changing. We know it cycles but how does that effect the buy and hold investors? If the market is going to turn soon how can the market effect properties I've already bought and plan to hold? Can it effect the pool of renters?

People are talking about the real estate market changing. We know it cycles but how does that effect the buy and hold investors? If the market is going to turn soon how can the market effect properties I've already bought and plan to hold? Can it effect the pool of renters?

Yes he has experience with rehabs and prices out all of his own jobs. He can do most of the work but for example if a bathroom needs to be added he would need to subcontract a plumber to do the major work like plumbing a room for water and sewer. He then can hook up toilet shower and sink.

@Aziz Raji definitely will be more conservative next time. The numbers seemed to work but after learning more from this site it's going to break even. 

I'm weighing the idea of doing a flip. My friend is a general contractor and I have capital. I'm disabled and unable to do work. After having loose discussion we're not sure how we could split the deal. His time is obviously worth something but is it equal to my downpayment plus expenses or the risk I'm taking if we end up holding too long? 

This is completely new to me to I haven't even punched numbers on any properties. I'm just wondering how the partnership would work. Has anyone worked a similar deal?

Thanks!

Our tenants are responsible for lawn mowing and snow removal. The only maintenance I can think of is we want to do yard and landscaping clean up twice a year. Cost roughly &150x2.

I'm wondering what others consider maintenance costs. For our duplex the only thing we considered is spring and fall landscape clean up. We're very new so we could be missing a lot of items. 

Any thoughts or feedback is appreciated!

@Alan Rekowski yes it is in Shawano. So far I haven't found any properties where the owner is responsible for utilities. I am finding it difficult because rents seem to be lower here. Shawano County is one of the poorest counties in Wisconsin.