All Forum Posts by: Eric Schrader

Please note, i could be completely off base. I got the GSI from taking the yearly income and subtracting out taxes, vacancy, maint. etc. to get the $32.6k number. Then multiplied by 10.

approximately GSI x 10.

That is with a 5% vacancy estimate.  

Thanks all

I have an agent looking into comps for the property. I calculated the GSI to be 32675 so it would get me to a property value of approx. 326k. Now off to figure out if the seller would be willing to do some seller financing. We shall see.

HI folks,

I am looking at a rental property for purchase. The property is a lot with 4 separate houses on the property. Two 2/1 and two 3/1 individual houses. How can you go about determining the comps for the sale/value of the property. The property has been on the mls for a while and dropped in asking price about 100k. I think they tried to use the cap rate to determine the initial asking price.

Thoughts?? Thanks

@Brandon Andreola

Welcome.  

Listen to pod casts and watch the webinars.  BP is a treasure trove of info.  I have been on for several months.  Getting closer to my first deal. 

Thank you for your service.

Eric 

All

So I have been chatting with several people in the Harford County MD area about their experiences.  Who out there is interested in starting a BP Harford County Meeting group?  I would think somewhere in Bel Air would be a central-ish location.

Anybody have any thoughts about a location?  

Thanks

Eric 

Hi Jeff

Welcome.  The Podcasts here are fabulous and informative.  There is no shortage of information on the site.  Good luck!

Eric 

Hi everybody.  

As a resident of PA, I have a fairly large sized school tax bill I have rolled into my monthly mort.  Of course the $ amount is based on the area and the govt. assessed value of the home.  

How does one account for that cost in their rental rates.  

For example, my school tax is approximately $500 / month, so it if fairly sizable.   

As always.  thanks

HI ALL

So I was looking around on the MLS and just stumbled on a 4 plex that was jumbled in the SFR group. So the description states that the deal needs to be cash or hard money, AS IS, etc but it also states that the buyer must sign a substitution addendum. What is that?

i think this could be a good deal.   The property owner has been issued a notice of sale and the auction was supposed to happen in November.  

HELP..

thanks