All Forum Posts by: Craig Parsons

 Hi Bryce  nice to meet you. I am up near Lewiston  and have some experience in the more rural areas of Idaho would love to meet up some time.

Point taken I think i need to ponder that one for a while.

So i'm in a market with little or no comps and there is no general cap rate for the area. with this in mind how do I figure out what my building is worth? lets just for round numbers say it has a NOI of 60k per year and the rents are all pretty much stabilized How do I value it?

Simple question what will you do with the cash from the sale? if you do not need the cash Can you get more money charging interest to the buyer and potentially a higher sale price.  I think a guaranteed 7 or 8 % interest rate on a home loan is gonna generate more income than most other less riskier investments.  

If the rent is in the area  of what you wish to receive and otherwise they are a good tenant I would ride him out. Unless you have other plans for the building that makes it more cost beneficial  to get rid of him now.  Personally I would rather keep the tenant and deal with it later  so at the beginning I have less hassles

 I guess its another way of tricking them to get more rent but in the end its all the same.  I do think that family size maybe should be a concern/rent factor  when renting a place that's on septic. Obviously more people means having to have the thing pumped more often.

Look into the meetup group Bay Area Real Estate Hustler Network. These are good guys  from the East bay they have both live and virtual meetups. I'm sure they would love to help you and your ability to find potential leads.

I do provide internet services  but I do not explicitly offer it with the rent. I do however charge a little more rent than the next guy and have happy tenants. I just let them know its a free amenity that I let them use for free that way if it goes out its not on me.

 Aren't Gator loans  a very short term option?  From days to maybe no more than a month?  I will admit I am not a disciple of Pace's  but do follow along now and then.  Please help me understand.

Yup I have had the exact same problem in rural and not so rural Idaho the hard money  guys have a very specific box and no matter the risk/reward they either wont lend or want you to have so much down that it makes no sense to even get a loan.  Personally I am trying to line up private lenders  but its still a tough road. The upside is once you figure out financing you will have an edge in an under served market.   If anyone else has lenders who will lend in a county of 8,000 people please shoot me a DM I'm always willing  to hear what some have to offer.