All Forum Posts by: Tony Hermesman

Thank you all for reaching out.

I believe that I have done my due diligence.  I watched this property and the value of others in the area.  This 4plex was listed at 320,000 and I offered 270,000.  the owner is elderly and no longer lives there.  her daughter wants to get rid of it.  I have an appointment with an inspector coming up.  just from my own experience, I can see that the roof on the main house needs repair and that there could be a foundation issue.   Properties like this in the area in good shape are going for 400,000 or more.  there is potential in this property.  the market in this area is steadily appreciating and strong working class.  There are currently 3 egsisting tenants and have been there for at least two years.  wiht the house rented this property will cashflow about $300.

my thoughts for exit are: assign the contract (have it in the contract to cover myself), Hold and rent, BRRRR, partner with another investor or flip it.

I was just more so shocked that it was taken.  I am refinancing my current property so I may have jumped the gun. but i just wanted to put in my practice.  

any thoughts would be appreciated.   @Jonathan Greene thank you for being direct.  I feel that if i do this on my own now it may be more than i can chew.

I just made an offer on a property and distance expect them to take it. Pushed the closing offer out 60 days to figure out just what to do with it. Need some help or sounding board to take the next step.

Property is in SW colorado and is a four plex that needs some work!

Is there a resource for local research that allows you to see the cost of utilities of a property?

@Alex Whittow

Sounds like a plan!

@Dmitriy Fomichenko

Thank you so much! I will definitely check these out!

@Steve Haag

Thank you!

I like Ridgway. When you are down this way let’s meet up. I would love to know more about your market up there.

@Jeff Reynolds

Hi Jeff! Thank you for reaching out! Meeting up would be great! Would next week some time work?

@Jens Nielsen

Thank you!

I will be there Monday and perhaps later this week we can grab that coffee!

Hi bigger pockets community!

I am psyched to join the community. I come from a family that has done well in real estate. Ready to set out on my own journey in real estate!

Excited to get things moving.

If you are in the 4 corners area, I would love to connect and chat real estate.