All Forum Posts by: Patrick Noel

How long have the two units been vacant? If the property is only operating at 60%, then I would base my offer on that current operational level and not the "potential" of 100% Occupancy. 

No problem @Orlando Paz It's better you learn it through the forum then get into a bad deal 

Ha! I'm in the same position in Florida. Most properties that I am seeing and putting in offers are being priced at "Potential Value" and the sellers aren't really budgeting on price. In my case, if the numbers don't work, I keep it moving. Like @Darryl Dahlen said, you don't want to over-commit yourself to a property that will turn into a headache financially 

Did you run the numbers? Are you trying to the raise the full $650k, or just the down payment? With 30% down, the cash flow will most likely be negative. What are the comparables caps in the area?  Also, what about utilities (water, electricity...etc.) and trash collection?

The ABCs of Real Estate Investing by Ken Mcelroy is what propelled me in the direction of Multi-Family units investing. It was an excellent read  

Looking forward to it 

HA! What's up @Account Closed! I see Ryan is pretty popular!

Thanks alot @Jacques Wurms 

And I'll let him know you sent me! 

Thanks!

Hey BP, 

I am currently looking for a Real Estate Attorney in the Broward County area within Florida. Anybody have any references?

Thanks!  

Hey @Christie Chanterelle !

Welcome! BP is a great place to learn, network and create some great relationships. I actually got my MBA from FAU at the Boca campus. What's your major? Do you mind elaborating further on your Investment business? What will be your goals? Flipping? Buy-and-Hold?

Thanks and have a great one!