All Forum Posts by: Niyi Adewole

 Thank you Seung i'm going to move forward with my first offer. How much would you have in the bank for unexpected costs?

I am looking to purchase my first multi-family investment property using an FHA loan. I plan to live in one of the units and rent the other three out.

Below is a description of the property i'm considering: 

Listed Price: $289,900 with a motivated seller. Based on the rent, i would like to offer $195,720. 

4 units rented and pulling in $2330 per month. there is a 5th unit, but this unit needs sprinklers installed to be put in use hence the reason this will still qualify for FHA. The owner has offered to put forth 15K to help with the sprinkler installment. 5th unit could pull in another 500 after repairs.

Built in the late 1800's, 4 off street parking places, 2004 updated wiring, new gas lines, hvac, gutters, 5 furnaces, 3 central air units (2 more of unknown age) 80 gallon water tank from 2007. roof is ~13 years old.  

Repairs/Updates that need to be made: Popcorn ceilings in the bathroom that most likely contain asbethos, new appliances, Some additional dry wall. Tree removal out front, Hvacs are getting old. 

IS THIS A PROPERTY I SHOULD OFFER AT 195,720? OR WOULD YOU WALK AWAY? again this would be my first investment and i would be living in it, any help would be much appreciated. 

Good Evening Everyone,

My name is Niyi Adewole, and I am a new resident of Louisville, Kentucky. I have been a bigger pockets member for close to a year, and I am tired of sitting on the bench. I am actively seeking out deals in Louisville, KY, and i am looking for other investors who are doing the same. 

IF YOU LIVE IN THE LOUISVILLE AREA, AND YOU ARE AN INVESTOR, PLEASE REACH OUT.

Warmly,

Niyi Adewole

Hello All!

In about a year, I will have the opportunity to relocate anywhere in the United States.

Which market do you guys feel is the best for Multi-Family home investments?

any help will be much appreciated!

Warmly,

Niyi

Hello Everyone!

My name is Niyi Adewole, and I am a Temple University graduate with outside sales experience. I have taken the necessary courses to attain my real estate licence, and I plan to start investing in Multi-Family homes within the next 1.5 years. 

I look forward to learning from our discussions!

Warmly,

Niyi