All Forum Posts by: Scott Anderson

@Anthony R.

I am the PM for now.

@Seth Ferguson

I know each deal is different. What I’m seeing is I can get positive cashflow prior to capex and maintainence. But once I take them into account I go negative by about $100.

I think my comfort zone is as long as that after capex/maint. number goes positive after 1 year I could be happy with that.

I just don’t know if any locals think that’s stupid and I need to try harder or if that’s about as good as it should be.

Maybe I should have posted in the Az specific forum? I would think this can translate to anywhere with a competitive market though.

My financing is a 20% HELOC down and 80% conventional loan for 100% financing in AZ.

Do I hope to cashflow based off this as-is or do I need to think more about cashflow when heloc is paid off? (2 years most likely).

Looking out of state it seems easy to cashflow, but it will be a serious struggle here.

i see wholesalers wanting hard earnest money which I’m not willing to do to get a deal.

Do I need to adjust my thinking?

What is realistic?

Hey everybody,

I’m working on a duplex deal and if I get it under contract what should I ask from the sellers/managers under due diligence?

What other things outside of that should I look into?

I guarantee there will be things I don’t think of. 

Thanks for any insights,

Scott

@Stanley Bronstein

Agent or broker? If the broker is given a good reason and doesn’t at least swap agents the broker has failed their client.

If the buyer has no good reason then of course, stick to your guns.

@Chris Mason

Not quite it as far as the CCCR comment.

Appraisers use three models for value.

They also factor in cost to build/replace.

They can also use income.

To the OP; Ask the appraiser what method(s) they used before you figure out how or if you can change their mind. If you’re fighting comps and they aren’t considered as important you’re certain to lose the fight.

@Stanley Bronstein

Yep. You can still be fired.

@Jared Smith

Don’t go to the agent, call your local Dept of RE.

That sounds like something I would never do as an agent.

@Corben Briggs Step one is always financing in any transaction. Figure out how you’re paying and how much you have. Step 2 is find a house.

@Adriel Hsu It’s pretty easy here in AZ. Title releases EM at their discretion. And sue for failure to perform to get the deal done or move on to a new one. Silly how some states complicate it like that.