All Forum Posts by: Gabrielle Lujan

Hey All,

Just learning and looking for some guidance. All help and patience is appreciated!

We have been analyzing some deals, and found one very interesting one, but not sure about what to offer.

There is a 16 unit apartment building for sale. The asking price is $1.2 million but market value was appraised at $660k. The building appears to have been updated and the owner reports low vacancies in rent. The owner reports a gross income of $112k and operating expenses of approximately $32k. I have analyzed the property with the BP calculators, and my numbers come out right on target with those reported by the owner. Also looks good on the cash flow and COC %.

My husband thinks because of the high cash flow and COC % that we are safe making an offer that is above market value. He thinks that it will likely sell for somewhere between $660k and $1.2mil. I am uncomfortable ever making an offer that is above market value, but I know commercial is different than single family or even small multifamily. Any thoughts or insight? Thanks! #newbie

So I frequently see tax assessments listed on sites like zillow and realtor.com. Are these accurate? Are these numbers essentially what the county feels the property is worth? Or is the tax assessment different from a property value appraisal? 

Thanks. 

#newbie 

So helpful! Thank you!

https://www.auction.com/details/912-avon-st-la-cro...

Found this today. Does anyone have any experience with Auction.com? Can anyone help me decipher the title information that's on the listing? Is owner occupied typically a deal breaker when looking at REO deals? Looking for guidance as we have zero deals under our belt. Any and all help is greatly appreciated.