All Forum Posts by: Stephen Gantz

Shelby,

How is it going? Any updates after 3 months? Let me know if you need any help?

I am closing on a 24 unit apartment complex this week. The property management company I had lined up isn't going to work out. I'm here looking for recommendations. TIA

@Vlady Gavi

Welcome to BP!

Excited for you and your family. If you have the down payment and you find the right investment there is are lenders ready to lend. My opinion would be to start with step one finding the right investment for you. Calling local banks and credit unions will help you understand what the lender requirements are when you are ready to pull the trigger.

Welcome to BP! 

I have  been a member for a few years now but seldom get on the forums. I am looking to change that and network with more investors, agents, and lenders.

I'm not sure where exactly you will be finding your properties but we do all of our investing in Humble, Atascosita, Kingwood, Huffman, and Porter TX. (77338,77346,77396,77339,77345,77325,77336,77365) 

I would be interested in any single/Multi-family deal you come across as well as help in area that I can. I own a small construction company and I am a licensed real estate agent so if you needed help with rehab cost and/or running comps I'd be happy to help. 

Look forward to connecting! 

Thanks Garett!

The units are all central air. Also my estimation on rehab has about 20% extra for unknown. My plan is to offer 180k worst case I have to put the whole 70k into it but I think I can get away with 56k

Thank you everyone for offering all of your advice! My plan is to purchase cash. Rehab to two down units, rent and then refinance. Another four plex down the street just sold for 230k turnkey but it was very out dated and each unit is 2 bed 2 bath. The building is 428 sqft smaller. The area is lower income compared to surrounding areas. It's in 77338 Rentometor said the average rent of my address is $1063

I've seen the property and I just did my rehab estimate it's about $18,000 per unit. I have not seen the other two units because they are occupied and the agent said they are paying $1050 each it seems high for the area though.

My wife and I are considering buying a four plex in Houston TX and want to know what are some things we need to know about the property to make a solid decision. Here is what we know so far: Out of state land lord Has been for sale for more than 3 months Asking price 240k Built in 1981 Each unit is 1050 sqft 3/2 with utility room Rent is $1050 (I have not seen the actual numbers this is what the real estate agent told us) Landlord is paying water and trash but don't have those numbers. Two units are currently leased Last roof: unknown AC and water heaters are currently working but do not know when they were last replaced. The other two need a complete remodel. Can anyone help me analyze this property to see if it's worth it? Thanks

I would be interested in your staging services on a flip I'm almost done with.