All Forum Posts by: Andrew Syrios

I've seen a good number of investors do this. They just don't want to pay for any repairs or anything like that. Maybe there's a catch, maybe there isn't. Just make sure to do really thorough due diligence if you get it under contract.

While I can't give legal advise, I would say you can subject to a property at whenever. But the arrears and fees they owe will have to be paid or the property will still be foreclosed.

Welcome to BiggerPockets Mike and good luck investing!

25% is generally a great ROI if you can actually hit that. But there's no magic number. It depends on the market's average cap rates and the risk/reward you can tolerate.

Yeah, I would pick up the signs as well and talk to a lawyer. I suspect (obviously not legal advise) that they're just trying to scare you so you'll clean them up and won't actually charge you with a felony. But if you don't comply, they'll likely come after you for something.

I don't think that's a question we can answer. But I would say, I would think more in terms of what do the people in the area want not how to bring them to the area. A few small commercial buildings aren't going to radically transform an area no matter what businesses they bring in.

Looks like a very solid deal. Other than one big purchase where we brought on a passive partner, we haven't done much in the way of partnerships. But they certainly are a good way to get started or grow faster in the business.

Welcome to BiggerPockets Karoline!

We've bought properties built in the 19th century. You should expect older properties to need more maintenance and repairs, but much of it depends on how well they've been updated and remodeled. Some older homes have been so thoroughly remodeled they're all but new. In some cases, older construction, particularly stone foundations, are better in many ways the more modern construction (especially block foundations, and while stone foundations usually take on some water, they don't move as easily as poured concrete in my experience). But you've got to look out for things like knob and tube wiring, rusted out galvanized plumbing and the like. And lath and plaster is a pain to work with. But if you anticipate higher maintenance and rehab costs into your analysis, they make sense to consider IMO.

 If it ain't it should be!