All Forum Posts by: Bram Spiero

Find properties of similar size and acrage that are in a repaired state and have sold in the last 3 months in the same neighborhood.

If you can't get to that information yourself, talk to a real estate agent.

Zillow estimates are fine for very rough estimates but are not a reflection of market prices.

Have you looked at every house in the area? Have you started detecting patterns?

The information is there, you just need to look for it.

Good luck!

From what I've heard, you're better off paying out dividends which are subject to capital gains tax as opposed to pulling a salary that is subject to employment and income tax. Ask a CPA about that difference.

Would be happy to help Justin.

Start learning about commercial real estate. 

Is the owner of the liquor store going to stay and are you just taking over ownership of the property?

Ask for financials on the properties for the last two years and start poking holes in the numbers.

I don't know a damn thing about commercial real estate, but like everything else, getting to a point where the data you are looking at is close to reality is the first step.

Good Luck!

Hey there Michael,

Make sure you understand the markets you intend to wholesale in, meaning, understand what renovated properties are selling for, understand what kind of profit flippers in your area expect to make. When the owner of the distressed property, the flipper, the future owner of the rehabbed property and you are all getting what they want, then you have a deal.

Without you living in Unit 1, this place does not cashflow. If you self manage, then you're just about break even. Your assumptions capex and repairs are a little low but will work, your assumption on vacancy is too low and should be 10% of rent (some will argue 8% but ask yourself,   are you trying to make this look prettier than it is?).

BTW, the rent on the 3 units totals at 4,900 not 5,100.

From your mortgage, I'm assuming the asking price is about 600k.

If you house hack, and there are no repairs or capital expenses, on paper it's going to cost you about $1,100.

Hope that helps.

Not if you're not going to engage and leave your profile a faceless avatar. This place is about relationships. Without effort on your part they are not going to come about.

What market are you looking into?

How much do you know about that market?

What steps are you taking to find deals?

Can you be a little more specific about the problems your facing?

Even if you don't find deals on the MLS, it can serve as the base of your understanding of a market.

Working through properties on the MLS will allow you to define what does and does not constitute a deal in a particular market and then be able to identify it when you run into one through other channels.

Hi @Brandon Richardson, a quiiiiiiiick tip, complete your profile with relevant information and a profile picture and you'll get better interaction and make it easier for people to remember you on the forums.

What is it that you have learned about multifamily as an asset manager and a property manager?

From your experience, can you describe how to go about learning to analyze multi-family deals?

What leads to successful multifamily properties? What makes them fail?