שלום חברים, התייעצות קלה עם הפורום. בהמשך לאינספקשיין שבצעתי למולטי פמלי, אני נמצא כרגע…

שלום חברים,

התייעצות קלה עם הפורום.

בהמשך לאינספקשיין שבצעתי למולטי פמלי, אני נמצא כרגע בתקופת האינספקשיין שבה אני יכול לוותר על העסקה – נכנסתי לחוזה לאחר שהורדתי 30 אלף דולר מהמחיר המבוקש תוך התנייה בעסקה שאני קונה את הנכס כמו שהוא אבל כמובן בהתאם לממצאים אני מעוניין לשפר עמדות.

דבר ראשון כשהתחלתי למצמץ עם המוכרים לגבי העסקה לאחר הבדיקה שנעשתה, אני בהחלט מקבל את התחושה מהם שהם רוצים למכור שזה כבר טוב. כבר ציינתו בפוסט הקודם את היתרונות הרבים של הנכס שהן בעיקר המיקום שלו שהור מעולה, אך גם מערכת חשמל חדשה, מערכת חימום שהוחלפה לגז ודוד חדש, והדיירים שמשלמים את כל הוצאות החימום.

מה שאני מנסה לעשות כרגע זה אחד מהשניים:

1. להוריד משמעותית את מחיר הנכס בהתאם לממצאים – פה אני בטוח שלא גיליתי לכם את אמריקה

2. אני מרגיש שאולי יש פה פתח מעניין בעסקה הזאת להלוואת בעלים – לפי דוחות הרנט-רולס של בעל הנכס תשלום המשכנתא החודשי שלו הוא כ 500 דולר בחודש שהם כ 1000 דולר מאשר התשלום שאני אשלם עקב כך שהוא מחזיק את הנכס כבר הרבה שנים, קנה אותו במחיר נמוך והריביות שקיבל בזמנו אולי היו נמוכות יותר. אני לא יודע כמה נשאר לו לשלם במשכנתא אבל מבחינתי יכול להיות לי מעניין שהוא ישאר עם המשכנתא שלו ושאני אשלם לו אותה כל חודש + תזרים. מבחינתו אין לי כאב ראש של ניהול הנכס, ומבחינתי חסכתי כ 1000 דולר בחודש בתזרים.

מה דעתכם? אני יודע שיש פה כמה מומחים לנושא

תגובה מהברוקר לאחר ששלחתי את ממצאי הבדיקה:

Lior, what areas are you most concerned about?

You should focus on getting proper information regarding remedy options and pricing on those items. Inspectors are usually not contractors/ nor do they own construction companies, and therefore, do not really have remedy options or pricing. Their goal is to point out everything they see to cover them from any future liability.

From what you listed I see 4 areas of concern:

1. Roof – You are getting an estimate from a roofer tomorrow . Hopefully it is not the one who gave you a $35,000 price.

2. Evidence of prior fire – I heard the inspector point out some charring and a prior fire, and that he recommends that you should have it further evaluated.

Regarding this fire, I will note that there are have been recent inspections by the Fire Marshall and certificates of occupancy, if any prior fire damage was not property rectified according to fire marshal and the building department, the units would not have certificates of occupancy. You can call the City of Meriden and ask the Fire Department or the Fire Marshall to send you any reports or violations.

3. Wood Destroying insects – you can get an exterminator to look at this

4. Structural Engineer – beams in basement – please let us know if you are coordinating an engineer to evaluate this.

זאת התשובה ששלחתי חזרה –

Hi,

I have consulted with my investment group based on the inspection videos. As to the roof tomorrow we will get an exact estimate from 2 roofers that I sent in and we will know better.

As to keeping the roof, you are right, this is what the PM mentioned as to maybe I can pay it in a few months using any positive cash flow but honestly i dont see positive cash flow with this property as the maintenance will be very high and the tenants condition. The PM been very helpful and informative on the phone.

The problem is that now one tenant is out so what ever extra cash flow that might have been in this property is gone. I was not notified about that before doing the inspection. I was told its fully leased. That means I will lose money every month until this unit is ready, and the unit will need updating to get a tenant in there – especially fixing the rocking floor. Also I didn’t know that the tenants are on month to month terms – I was under the impression that they are on long term leases – which make me feel more comfortable on the cash flow. Some of the tenants are there for just a couple of months. The bank usually prefer long term leases as well.

I don’t have any history of maintenance job that was done to this property.

I don’t have eviction history.

Don’t have expanses like snow removal.

Also does the overall reported yearly income includes the deposit?

As to WDO and Structural condition – I will try to schedule but I want to make sure that I am not going to lose my down payment so that’s why I wanted to

Based on the report this property looks like a money pit with endless amount of expanses and it is clearly shown that every part of it was neglected and the fixes that been made were made as patches. The landlord is trying to sell it for top dollars. When I signed the agreement I was not disclosed on a new roof that is needed, siding that are broken, structural damage, new roof, issues with the flooring thaylt are broken, baths that have halls and leaks, electric sockets, lights, fire detectors etc. that are out of place, driveway that is in the end of his life, broken stairs thatvare shifted by earth, live wires running around the property and the list goes on and on.
This property would be a huge headache with endless fixes. It needs a complete turnover.

I do believe that every property has its price but its surely not the price in the contract based on the current unexpected condition.

The current monthly mortgage payment on this property is about $500, but mine will be at least $1000 extra. Other than that the seller managed it himself – I will need to hire a property manager, so all these affects my cash flow compared to his.

One of the only othey solutions that I can see with this property other then drastically lowering the price or that landlord getting the major ticket items fixed, is for the seller to keep his mortgage and sell it to me with owner financing so I will pay him the mortgage while he maintain his mortgage.
He will still have the cash flow but not the headache of dealing with this property and I will save money on my financing so that’s can be a win-win situation.

I am happy to speak tomorrow around 10:30am

Thank you everyone and good night

Lior