All Forum Posts by: David Schwan

Steve,

I would say IF this is a good tenant and they are fine with staying in the property as is then I would negotiate with them on what is a fair increase. They know as well as you that the rent for the property needs to go up. My opinion is rent between $1,100 and $1,200 would be a fair number. In this market they would be hard pressed to find a better option. It would be a win/win for both of you. You get to increase the rent on the property and they still get housing at a lower than market value. As far as the IRS do you have any recourse to dispute their FMR number?

Best of luck,

David

tenants pay all utilities and at present 19 of the 20 are rented. The units will need more improvements in the future to be able to raise the rents to a higher level but they are in decent shape right now. The $1000 a unit is just for basic paint and landscape. 

Average rents are $500 per month. I would be doing this with a $360k mortgage.

I am looking at a 20 door complex and it seems like a good deal but I am not sure if I am doing the math correctly. My question is how does a lender value commercial properties. Here are some of the details. Please respond with any questions that you have.

property consist of 10 duplex (20 doors) 

Asking price is $400k

Estimated expenses of $4500 per month excluding the mortgage. Taxes, Insurance, Vacancy, Repairs, CapEx, Management and misc.

This is a C property that is 40yrs old and needs about 20k in upgrades. it is currently 95% occupied with that being the current 12mo average. I am not sure what other questions you might have but reply and I will answer the best I can.

Thank you,

David

What part of TN are you wanting to be in? I am in Middle TN so I could possible help you out.

Thank you,

David

I am in Manchester what price range are you interested in?

Pm me I think I can help

Pm me I think I can help you out.

I have a basic question concerning owner financing in TN. If I sell my current home on owner financing will I be able to quality for capital gains exemption if I sell with owner financing and just hold the mortgage. If anyone can help that would be awesome. 

I am looking to find average construction cost for the middle TN area. Any area in middle tn would be fine. If someone has the cost on the shotgun style in east Nashville would be great. Thank you in advance.