All Forum Posts by: Sean Ploskina

 For a building that old I use a seperate budget for capex vs general repairs.  Anything over 50 years old and that rent range for me gets a budget of 10% for capex and 10% for repairs.  Tenants are hard on the little things like fans, blinds, screens and they add up.  

Also on a commercial building make sure you are accounting that trash might need to be done by a different company.  In my town the city picks up for residences but not commercial and that is another 100/mo

My best deal came from the MLS, another from direct mail, and a third from a referral. Any strategy works if you focus on it.

@Brandon Hall has been mine for several years. Has helped me plan ahead and is local to the DMV

I have been with property services of Ocean View for almost a decade.  

I have used title companies and an attorney.  My lawyer Scott Alperin has handled sales, purchases and a 1031 for me.  Also Thompson Law handled a purchase last year

@Tony Nguyen  That is a great deal on paper!  You are getting 1850 for a 2/1 and 910 Sqft?  Or is it 4/2 per side? 

Is there any flood insurance required?  You said it was near a creek.  That is another 100/month or more.  

Have you budgeted for management?  Even if you plan on doing it yourself @Brandon Turner has said to make sure you budget for it so if you change your mind you can get someone else to do it.  

Where are you getting a down payment of 10% for an investment?  I would love that bank

@Andrew Dao You can have an agent or broker pull comps. I do this before a refi so I know about what the numbers will be.  Plus if the appraisal comes in too low you would have evidence to support your arguement

ABNB has some good rates right now.  Their commercial side is a bit cumbersome but worth the work for the rates

@Justin Fraser  Congratulations.  Glad to hear you got a BAHG done in a short period of time!

I provided the money for the repairs.  This was if I remember right a 25% down with another 5 in escrow for repairs paid by me. I actually needed 15 in repairs but the 5 covered what it took to do the work to bring to a conforming level.