All Forum Posts by: Account Closed

Very vague question. However, I am curious on you guys' thoughts about the value of land and properties after a natural disaster - tornado and/or hurricane. 

I am forward thinking to see if this a potential buying opportunity to potentially purchase the land to build duplexes on, etc? 

 The area in general is a nice area. I am thinking similar to vacant properties, etc., if it would be a good idea to cold call the land owners to see what their plan is and/if they would be interest to sell their land or property. Ultimately, I am unsure if natural disaster's hurt the value of the land? I can assume it definitely would to a damaged home, however, I am unsure how much. I had this thought and figured it would be best to say aloud to my BP community.

I am not opposed to any constructive criticism. So please answer, all answers are welcomed! If I need to clarify anything, please advise. 

Thanks in advance BP community!

Hello All!

First, thank you in advance for taking out the time to read this. My partner and I are currently renovating 2/4 units in our fourplex. My role is to keep track of the P&L, budgeting and documenting. 

I have a question, a rookie one, about Capital Expense. I am somewhat confused and I want to ensure it is correct.

Is Capital Expense a one time charge? or is it an accumulation of charges? For instance, my partner and I spent 5k on new countertops and cabinets. I know this would fall under the Cap Ex category. However, we have also spent over $2650 in different plumbing related items over the past two months as well - faucets, maintenance, etc. How would I record this in my P&L. Currently, I am putting the one-time big purchases like the countertops and cabinets under Cap Ex. For plumbing, I am breaking it down for each unit under maintenance. 

Is this correct? Incorrect? Is it a preference thing? 

Thanks in advance! I truly appreciate you all. 

@Pete Moran Good evening, Pete!

I would also love to see your excel sheet! Currently, I am completing the intention Journal, however, your excel doc seems very intriguing!

Thanks in advance.

Good Evening All,

First, thank you for taking out the time to read and help me. I just bought my first quadplex last week. 

Although, I know BP has an excel finance form for landlords, I prefer to make my own my which I am in the process of doing. Currently, I am calculating my Cash Flow analysis and I need help with the Vacancy and Collection Loss portion. Currently, I have one vacant unit that needs to be remolded then rented at $900 per month, which is the areas going rate. However, my other tenants are between $700-750.

When calculating the vacancy rate, do I multiply the future or current rent by the vacancy %? Also, because I have one 1/4 units vacant, does that percentage equal 25%? I maybe way off on my math already, however, that's why I need some serious help to get this right and accurate! 

Thanks so much for your time and advice!