All Forum Posts by: George Smith

You are right. Everyone knows it and the seller knows it better than anyone else. So what would be a reasonable price point? I believe the rent amounts are correct. That is about the only thing I will copy and paste for any calculation

That is what I am thinking. Way too much per unit for a complex.

Check your PM, AG

Maybe someone can help me with this one. I know the seller is asking way too much and I am just playing with the numbers. How much should I offer if I want a 8% return COC:

It is 201 Main street, Little Elm, TX, 24 Units complex. Anyone in DFW area and investing in apartment should know this one because there are only a very few on the market in the entire DFW area.

Build in 2000, tax office value 750K, asking 2.5 Ml.

Only information the seller willing to provide is

Current Monthly Rental Rates:

1 BR, 1 Bath 650 sq.ft : $715 Plus Electric & Water

2 BR, 2 Bath 840 sq.ft : $895 Plus Electric & Water

2 BR, 1 Bath 720 sq.ft : $795 Plus Electric & Water

3 BR, 2 Bath 1040 sq.ft : $1050 Plus Electric & Water

Income: $21,181 /Month

Expenses:

Water, trash and sewer is $1,375 / month

Electric, $300 / month

Alarm, 100 / month

Phone, $50 / month

Taxes, $5,700 land and $15,400 improvements

Wear and tear, maintenance, $650/month

Insurance $500/Month

And he claim the cap rate is 8%

Yeh, but too hard to burn that kind of cash he has,  even we buy 4-plex that are worth buying 

Eviction is easy and just take time. You can do all by yourself:

1. Post eviction notice on the front door and back door, take pictures (Pay or evict), demanding full payment including late fees and other back chargers. Accept full payment or none. Right now is a peak season and you will find new tenant in no time.

2. After three days, file eviction in court and pay the filling fee.

3. Wait for 2 to three weeks then go to the court, You will win automatically with no payment.

4. Evict, most time they will move before the actual eviction date.

5. Clean the mess

I am asking for some solid investment opportunities in DFW area, especially the north part, probably starting with at least half ml. My friend does not like cash sitting in the bank

Hi, I am George and have been buying rentals for several years on and off. I am thinking about going big with apartment complex with my partner who has tons of money sitting in the bank. DFW is super hot, SFH or complex. Any good investment idea?