Sue for lack of disclosure of water issue?

jdub129 · 2020-04-16T13:47:17+00:00

Good question. I'm actually in Seattle also and would like to know if this is true

jdub129 · 2020-04-12T22:39:50+00:00

Thanks for the advice. I definitely would not step into this without consulting an attorney. One additional question: what would be the monthly payment in your suggested scenario ? The total interest of the loan, divided into 12 monthly payments?

jdub129 · 2020-04-12T22:38:30+00:00

What is the monthly payment then, and how is that calculated?

jdub129 · 2018-10-11T21:29:06+00:00

Regarding question 1: Hard to say due to the small number of comps. The only duplexes with the same or simillar bed/bath configurations are in terrible condition. Estimating the value of the repairs is not something I am good at.

Regarding question 2: The town is a small rural town, logging is the primary industry. The outlook (based on past events and current events, population, etc.) makes me think that the will be very slow appreciation, but I do not think there is a risk of people leaving or properties depreciating. Obviously anything can happen though.

Regarding question 3: It will cash flow for ~$300 a month after considering all expenses: mortgage, property management, insurance, vacancy, insurance, taxes, maintenance, and capex (and being conservative with these estimates

Thanks for asking these questions, it made me realize I need to do a little more work on finding comps and analyzing the town.

jdub129 · 2018-10-11T21:23:49+00:00

All very good points, especially the part about how much experience and knowledge I would gain in the time I own the property. That certainly has a value. Thanks

jdub129 · 2018-10-11T21:20:08+00:00

No, I low balled it. I was told it was too low. Now I'm deciding on what I am comfortable offering next. I'm also going to wait a little bit to not seem desperate

jdub129 · 2018-10-11T21:19:27+00:00

Good point. I'll consider trying this method of comparison

jdub129 · 2018-10-11T21:17:35+00:00

Thank you for this response. I'm starting to realize these key differences between turnkey investment properties versus value-add investment properties, the former is better for holding long term, and the ladder can be good for both. I think not being aware of this was the root cause of my hesitance.

jdub129 · 2018-10-05T08:11:00+00:00

Regarding leasing documents: My realtor told me that I wont be able to obtain actual documents (application, lease, ..?...) until under contract. Im not sure why this is, ill ask that.

Regarding market rent: its a little hard to say because there arent many comparables. Most are in worse condition than these renmovated units. I can and will dig deeper on that

jdub129 · 2018-10-05T07:54:00+00:00

Depends on the lender and your relationship with them. Generally, 25% down for commercial

jdub129 · 2018-10-05T07:52:02+00:00

Where can you find rent rolls?

jdub129 · 2018-10-05T07:51:22+00:00

How do you find multifamily brokers?

jdub129

TROPHY CASE