I had been wondering about the ocho when a new video would come out. I I hate to see this chapter in your investing life go but i hope you get all what you ask for it. Sad and happy at the same time.
Some peopke are really good at hiding things. A realtor bought the house i wanted. Year later put it up forcsale for 30k more. Put in a new chesp ac and furnace, paunted over rotted siding and trim and much more. We paid for an inspection too. We are still working on things.
Don't rule out that the co which did the roof may have screwed the owner at the time. My mother had her roof done by a big commercial home improvement co in MA, (phr) and they literally shingled over soft rotted spots on the plywood and never said a word, and a ton more issues.. Happy to say that never got one penny from her, because I wouldn't let them .. ..and she passed in 2022 The guys they sent were definitely no professionals, I think only one guy had a vague idea of what he was doing I only found those spots by getting into the crawl spaces where the roof slopes behind the knee walls and took pics and videos And one of those spots, one of the guys actually stepped through
I like a smooth running Ocho. I hope it sells for whatever it is that you are asking. Is this level of real estate investing primarily about getting the profit when you sell? Then seems to be the case with real estate in general. I had farmland that basically paid for my house property tax in Seattle and the real profit was when I sold the farmland.
Its interesting whoever built this decided to put garages there, could have been a 16 plex instead of an 8 maybe.. if zoning allows it. Looks like a large lot.
They require a certain amount of parking. The garages serve as parking for the apartments. If you had a 16 plex you would need 24 to 32 spots depending on code at the time. It might have been tough to fit that all in. There also could have been water requirements depending on the code when it was built as well. Now, they would require a ton of water be brought in or bought for that many units.
Not really understanding how you're making money on this property. Would be an interesting video explaining the numbers. $1250/unit, rehab costs, insurance. Assuming all cash it sounds like a 2-3% return? But if you can sell for $1.82m that profit would be $14k/mo over 36 months. That would be a good return.
Is all this hassle with tenants and contractors worth it? Do you have the numbers so you could you do a video comparing your portfolio to the S&P500 over the last 5 or 10 years?
....Fergie: good project - - you'll definitely get a 1031 buyer and then you become a 1031 buyer of another project with artificially inflated dollars........point being, there are two commercial real estate markets.........REALITY and the 1031 crowd........................
I thought i heard u say these rent for 1250 are something.... you price gouging for those....hell naw!!! U up the price they won't be renting fast. Ppl must be desperate. Nope!!!!
Here is the property when I first bought it! th-cam.com/video/GZmGqagGfMM/w-d-xo.html
No tires! No Drama! Must Go!
haha
To bad all investors are not as honest and kind as you are Mark.
I love the weird tile. It's a keeper.
No Drama in 6 Months! Cool! List it and hopefully it will sell before any bolt of lightning strikes to cause a flood of drama!
I had been wondering about the ocho when a new video would come out. I I hate to see this chapter in your investing life go but i hope you get all what you ask for it. Sad and happy at the same time.
I feel like the Depot will become the new Ocho
My favorite ocho moments would be just the remodeling in general.
The Venezuelans might be interested.
They’ll be putting them in the garages. Ugh
@@oleradiodudea.m.4735 new coming on that today!!!!!
@@investfourmore Colorado politicians has as many knuckleheads as out politicians do in Minnesota.
@@oleradiodudea.m.4735and together, Minnesota and Colorado combined have about half the knucklehead legislators that California has 😢.
Some peopke are really good at hiding things. A realtor bought the house i wanted. Year later put it up forcsale for 30k more. Put in a new chesp ac and furnace, paunted over rotted siding and trim and much more. We paid for an inspection too. We are still working on things.
Didn’t Kyle Richards hubby Mauricio get in trouble for doing that? House in Malibu I think?
Don't like the tile? Get some rugs! You improve the buildings. 👍
What are the tall cement structures to the left and straight ahead?
Don't rule out that the co which did the roof may have screwed the owner at the time.
My mother had her roof done by a big commercial home improvement co in MA, (phr) and they literally shingled over soft rotted spots on the plywood and never said a word, and a ton more issues..
Happy to say that never got one penny from her, because I wouldn't let them ..
..and she passed in 2022
The guys they sent were definitely no professionals, I think only one guy had a vague idea of what he was doing
I only found those spots by getting into the crawl spaces where the roof slopes behind the knee walls and took pics and videos
And one of those spots, one of the guys actually stepped through
How long between first rent missed and eviction?
I like a smooth running Ocho. I hope it sells for whatever it is that you are asking. Is this level of real estate investing primarily about getting the profit when you sell? Then seems to be the case with real estate in general. I had farmland that basically paid for my house property tax in Seattle and the real profit was when I sold the farmland.
Since your kids own the laundry machines, would they get some sort of payout so they can buy new machines for a different property (depot perhaps)?
@@MsBlackhawk69 they don't own these. They own the complex machines
@@investfourmore My mistake, sorry.
Awww!!! 😢
Bye, bye Ocho. Its been a good run. 👍🏽
Are there separate water meters? Whats the monthly water bill for whole building.
Rents are 1250 per unit?
Its interesting whoever built this decided to put garages there, could have been a 16 plex instead of an 8 maybe.. if zoning allows it. Looks like a large lot.
or 24 units?
They require a certain amount of parking. The garages serve as parking for the apartments. If you had a 16 plex you would need 24 to 32 spots depending on code at the time. It might have been tough to fit that all in. There also could have been water requirements depending on the code when it was built as well. Now, they would require a ton of water be brought in or bought for that many units.
1.82 million. For 16 beds and 16 baths and 16 stables seems fair.
No smoking, no pets, or consumption of other tenants pets.
Based off the roof, screening & condition of property the prior was a SLUMLORD
If you can get that much $ for it, take the money and run.
Did someone steal the trees you planted?
Not really understanding how you're making money on this property. Would be an interesting video explaining the numbers. $1250/unit, rehab costs, insurance. Assuming all cash it sounds like a 2-3% return? But if you can sell for $1.82m that profit would be $14k/mo over 36 months. That would be a good return.
I never buy any properties all cash
Is all this hassle with tenants and contractors worth it? Do you have the numbers so you could you do a video comparing your portfolio to the S&P500 over the last 5 or 10 years?
....Fergie: good project - - you'll definitely get a 1031 buyer and then you become a 1031 buyer of another project with artificially inflated dollars........point being, there are two commercial real estate markets.........REALITY and the 1031 crowd........................
I liked your videos when you bought houses and fixed them up. You don’t seem to have those anymore.🤷♂️
I thought i heard u say these rent for 1250 are something.... you price gouging for those....hell naw!!! U up the price they won't be renting fast. Ppl must be desperate. Nope!!!!
price gouging? That is some of the cheapest prices in the area for a 2/2 let alone one with a garage
I would keep it. That's a ton of money every month, and approx 144K a year gross income
We have a loan and expenses. that is not all profit.
@@investfourmore I know. I did say GROSS, not net
U went to pick up the laundry money, why didnt u take out the trash too?? 😢😢 the garbage was overflowing
ARE U ASKING $1.95 million now??? how much are property taxes on the it??
Wow six months no problems is good news. You had a bad tenants and finally got good ones to make the place safe again.
Wassup
Waz happenen