All Forum Posts by: Tyreese Gadlin

BP Friends, I believe I have come upon a pretty good opportunity and I am just about ready to take my first real big step. My question is; I am looking to by a commercial property 10 unit apartment, but the seller does not have a profit or loss statement and is not willing to go back and do her books, she does have 3 year tax statement. Is this a reason not to take what I believe to be a great deal?

ARV based on Cap Rate:
$755,910.00

All advice welcome. Thank you in advance!

keywords: multifamily, duplex, triplex, mfr, property management, finance, sale, buy, tenant.

Hi Vinnie, I do not have any experience in this but what may help to find someone who does is by using more key words. Try adding a city, state, area code those types of words will probably help get you an answer.

Great question, I am actually, as I am writing this, listening to The Book On Managing Rentals.  The book answer all these questions an more.  When you get the book, Brandon also provides the forms he uses to cover all of the processes.  Biggerbockets.com/landlordbookbonus, Hope this helps.

@Bill S. and Mr. Bill as usual thanks for you input! you are always so helpful when i gather more information on these units I will keep you posted. Maybe you can provide some advice I'm sure I will have many questions.

@Jeff F. that sounds great and as luck has it i just got information about 44 units 11 4 plexes. I am waiting on more information which I should have, I was told within 2 days and the best part is they are not listed and i am one of few people to know about them when I hear back if the numbers work I plan to act fast once that happens.  I don't drink coffee but if you want I would love to talk sometime message me lets set a time. 

@Mark Andersen Sorry Mr. Andersen, just notice your reply, thank you as well for your comments.  And as mention it has been a complicated situations trying to start in large apartments.  But I want this to be my niche and I am focuses on making it work.  But I may scale back if nothing comes around soon or look to maybe investing from a distance but being very new to this game investing any further than 2 hours makes me nervous.  Who knows though, I might just have to try and find more information about how to make long distance rentals work.

@Jonathan Orr Thank you much!  You have fully answered my question and more.  I will not let it discourage me rather motivate me, now I at least know where to start and what information I need if I decide to peruse the niche.  Thanks again!

Happy Monday BP. I am looking to invest in apartment buildings in the wyomig area,  Laramie, Sheridan, Cheyenne and Colorado, Fort Collins, Longmont, Loveland, but I have only found a couple of them and none that I felt were a deal.  So, I started thinking about something I have not heard much about on the podcast, forums, webinars or blogs.  How would I go about building an apartment complex 50 to 100 units or multiple 4 plexes and what kind of cost would I be looking at.  Thanks in Advance

Hello BP friends!  I am in search of a great real estate attorney in the Fort Collins Colorado area.  I would greatly appreciate some referrals for this. I have found that the BP community is a great place to find resources and I'm hoping it will be the same in this situation.  I am looking to purchase my first apartment in the near future and want to be sure I have everything structured correctly.  

Thanks in advance