All Forum Posts by: Tony Nguyen

Phil,

It's in a C area, in my opinion. historical vacancy I am not sure. Financials from the seller are on the way. Will be doing walk thru soon. Not paying for utilities.

I am probably underestimating the level of work inside that needs to be done because I deal w quiet a bit of rehabs that need complete rehabs so assuming these units are still occupied, it's all just cosmetic so it doesn't worry me too much (or am I wrong?)

Jon - The loan is amortized over 15 years.

sorry about that George - i just added that info... can't believe i forgot it! thanks

Price: $155,000
DownPayment: $40,000
Seller Note: $115,000 @ 10 years @ 4% interest
Gross income: $42,300 annually
Property taxes: $1,815 /year
Insurance: $1,550 / year
all 6-1/1 units and 2 studios; all occupied
tenant pays for all utilities
built in 1925

Hey guys,
I have a 8 unit property in Tampa under contract right now and we're in the inspection stages. I wanted to put up some numbers here to see what you guys think. It's a deal to me, but I want to know if it's a deal to you. If I'm missing info below, let me know and I'll provide. This is my first apartment buy and hold so any advice would be great, thanks!

Price: $155,000
DownPayment: $40,000
Seller Note: $115,000 @ 10 years @ 4% interest
Gross income: $42,300 annually
Property taxes: $1,815 /year
Insurance: $1,550 / year
all 6-1/1 units and 2 studios; all occupied
tenant pays for all utilities
built in 1925

Yes there's an a/c heater there

Hey Rob - sorry for the delay but here are some pictures. Sadly, I just figured out how to do this property w/ photobucket =) all 4 of these pictures are apart of the "garage".

hey guys,

I'm under contract w/ this house and know exactly what I'm going to do with every room already to flip it, but this fireplace is giving me an issue. What do I do with it? i was debating of just removing the whole thing - possible? If so, difficult? If not, do you guys have any suggestions as to what I could do with it to make it shine? Links to examples would be great =)

Thanks!

awesome Luis how much did that cost you?

Thanks for the help w/ this question everyone. My insurance agent told me FZ insurance isn't needed for the apartment I'm looking into, but I'm still going to inquire about the Elevation Cert to be extra sure. With all the flooding and storms going on, can't afford to be too cheap.

My quote was about $28 a month anyways - not too bad from other prices in other places I've heard of before. Oh, and the Elevation Certificate may be as low as $95 (advertised on their site), but I'll see if theres any fine print to that since J Scott said he pays $375.

In my case specifically the door is actually still there. How much does one cost anyway?

you got to be kidding me - a few hundred bucks? That doesn't sound tough at all. It makes sense though, thank you for your input.