All Forum Posts by: Joe Shively

Sorry I titled the post wrong. It was supposed to say Hand money question. I of course wouldn't be using the hard money as hand money that will be my own money. My question is how much of my own money should I put down as hand money? Is it ok to put down 200 as the hand money?

Also Jon why wouldn't they accept the offer? It's not far off the asking price. Are they looking for people to go over asking price? Been on market for three months and price keeps getting reduced.

I'm going to put an offer in tomorrow on a home that has been taken back buy the bank. The offer is going to be for 45,000. I'm going to use a hard money lender for my financing. What amount of hand money should I put down? Is it OK to just give like $200?

I've never heard of a lease option calculator. What figures do they generate for you. I would be interested in learning about these or finding one also.

Patrick:
Could you tell me what figures are generated from this type of calculator and let me know if you find one!

I don't think that people are understanding what kind of questions I have for this deal. I'm not looking to find out if this is a good deal or not by looking at numbers, (that is unless your interested in investing in the property). I'm looking to get info on the questions that I had originally posted pertaining to where to start as far as financing/ finding investors for this KIND of deal.

ORIGINAL QUESTIONS:
Do you run all numbers come up with the actual estimated rehab cost, work with the sellers and negotiate a price then look for investors, or the other way around, find investors first?
I was also wondering is this something that a bank would look at to finance? or is this something that you would bring in partners?

Sure I can get some more numbers for you. The reason there are only 16 units rented right now is because the complex needs so much work. I put in the first post that the estimate from the listing company is 1.4 mill in rehab work!!!

I have come across an apartment complex that I think could have a lot of potential. It's a 72 unit complex with multiple buildings, listed for $600,000 and says please bring all offers. The company that has it listed says that 16 units are currently rented and there needs to be appx. 1.4 million in rehab work to bring all the buildings up to par. ( There estimate I have not looked into that extensively on my end).
My question is where do you start? Do you run all numbers come up with the actual estimated rehab cost, work with the sellers and negotiate a price than look for investors, or the other way around, find investors first?
I was also wondering is this something that a bank would look at to finance? or is this something that you would bring in partners?

Any questions, comments, or ideas would be greatly appreciated.

Thanks, I'll check them out!!!

Thanks!

I'm pretty new to this site. Just want to see if there's any active members out there from the Pittsburgh, PA area that would be interested in exchanging information, ideas, goals, ect.

As of today electric is in no way cheaper than gas!!! That is as far as I can find!!!!