All Forum Posts by: Charles McCabe

Check out LoopNet and CoStar.

Thanks,

Chaz

My impression is that CoCR is only used for rentals.  It's annual cash flow divided by cash out of pocket for the purchase.  Since your property has no "cash flow", it has no CoCR.

Thanks,

Chaz

@Ryan Fennick Harleysville Savings Bank is the kind of portfolio lender @Steve Babiak mentioned. They did a presentation at a local REI meeting recently and talked about this particular circumstance. I think you're too far away for them to service directly, but they might be able to point you to a lender in your area. Talk to Conrad Driver or Kim Licata.

Thanks,

Chaz

@Gregory H. Thank you again, sir.  If you have a PM company recommendation, I'm all ears.  I called one based on seeing their van parked near these properties and never got a callback, which doesn't instill me with confidence.

Thanks,

Chaz

@Gregory H. Thank you for the considered response.  You're right about the property in question.  I've adjusted the analysis per your recommendations (and no, I didn't really expect any significant appreciation; long story ; >).  

https://www.biggerpockets.com/calculators/shared/4...

Thanks,

Chaz

https://www.biggerpockets.com/calculators/shared/458451/4b2298b5-8512-41b1-a3e1-cce65a7d76b4

Multi-family rental (triplex) in Norristown, PA (Montgomery County).

This is coming right off the MLS, no discounting done. All units are already occupied at those rents. Anything is fair game...criticisms of the area, check...of the cost assumptions, check...criticism of taking it right off the MLS, check.

Thanks,

Chaz

@Leslie Arroyo-SanchezI second what @Percy N.said.  DIG is amazing.  http://digonline.org.  The next general meeting will be in in Horsham on 31Mar, but presumably you'd be interested in the BuxCo/ChesCo/MontCo subgoup meetings.  Have a look at the calendar here:  http://www.memberize.com/clubportal/Calendar.cfm?c...

Thanks,

Chaz

@Bobby WeaverDo those numbers account for all possible expenses, like insurance, taxes, snow removal, lawn care?  I'll PM you the sheet I've cobbled together and you can see how things stack up against my model (and I still recommend throwing it into the BP model:  https://www.biggerpockets.com/buy-and-hold-calculator).

Also, I'm curious about that financing...3% for 15 years with only 10% down is lots better than I've been seeing.

Thanks,

Chaz

@Bobby WeaverYou certainly seem to have your box well defined.  I'd like to throw one of your potential properties into my model and see how my results compare to yours.  That kind of CoCR is stellar; my numbers in Norristown are topping out around 48%.  Have you used the analysis tools here on BP?  Are any of these already occupied?  Last I knew (I'm way, way far from an expert), Pottsville was pretty depressed, so I'm a little skeptical of the vacancy rate/rent.  Have you compared against rentometer.com?

Thanks,

Chaz

@Bernard AntwiExcellent.  I PMed you.  If you haven't already, I recommend you check out digonline.org, the local "Diversified Real Estate Investor Group".  As a matter of fact, the DelCo subgroup is meeting Wednesday night at Casey's in Newtown Square, if you're interested.

Thanks,

Chaz