All Forum Posts by: Jack Tucker

Follow-up: since you stated the calculated rates are not attractive... What IS an attractive cap rate?

Jon, I appreciate your feedback.

So I think I hear you say that most sellers neglect to provide a comprehensive list of costs. As the owner and developer of these properties over a number of years, I could readily access my tax returns to provide that data.

I want to be sure to speak the language of a savvy buyer to show utmost transparenncy. In this case, it's great when a seller has nothing to hide. (plus, I aspire to become a more savvy buyer with each purchase I make). A full list of costs makes sence to get a more historical persopective.

Perhaps I need to brush up on the cap rate calculation based on the numbers you are quoting (6.0/4.6/6.7/6.7%). Perhaps you are adding in standard percentages for the omitted cost categories? I'm an engineer, so numbers and good data are very important to me, too. Elaborate?

As far as market rents, I hold current contracts in force for the stated rents including full (1-month) security deposits. Is there a standard way for me to provide verification to a potential buyer beyond copy of contracts that these rents are real and within the range for a given area? At the end of the day, in Athens GA, median rent per bedroom is approx $300-$400. Of course, it's generally higher for 1 bedrooms and lower as the number of bedrooms per independent unit increases. Thanks again!

Here's the deal: I'm looking to raise some cash for another project and want to sell some or all of my University of Georgia (Athens) rental properties. As the current owner and manager, I'm so sure that these properties will perform that I'm putting my money where my mouth is. After all, RISK is the biggest question we all face when sizing up any investment. What if I contractually guaranteed current market rent on these properties for 12 months? What if I provided FREE property management on these properties for 12 months? I achieve my capital-raising goals and you get a hassle-free, low-risk investment and an honest partner for one year. It's a win-win. Check out the attached hot sheet of my modest portfolio for sale. I'm not an agent nor am I looking for new representation, but agents are protected.

Starting/Designing a new Turn Key Investment Property company. We are rental property owners / managers with multiple local units that we've developed into great cashflow properties in a University town. We recognize that experience is the best teacher and BP offers a rich and vocal resource.

What are the aspects of existing turnkey companies that you do not like? What features or aspects of a turnkey company would make you more likely to do business with them?

Appreciate your generous feedback.