All Forum Posts by: Savannah Leigh

thats a great ballpark. thanks

well under half what i expected...i thought upwards of 100/ft

just curious, knowing everything is regional and depends on choices ...our apartments are formica and laminate not granite and tile...but what do people use as a per sq ft price or per room price to thumbnail renovations from studs to finished on a older multi unit building that's been gutted

sample ad here: http://scranton.craigslist.org/reo/3784599553.html

roof and windows new. all else not there 8000 sq ft

thanks

no way. 3 month tenant, not the first issue and sarcastic to boot? uh uhh. nope. full late fee and no renewal. theres the door

my lease allows me to go to magistrate on the 3rd. next time i would. they struck out

are any of the utilities off or non functional? you could ask the city to declare it non habitable. instant eviction

i would make the 7 days a residential lease per the laws in your state. then in pa if they didnt move, the most it would take me to kick em out 30 to 45 days.

im doing this now. i emailed the owner, before entering, and said from what i knew, what he told me, etc

comps 120
i would sell for 100 to 110
profit 20
repairs 50
pad 10
i would be in the 20's likely

but i wanted his permission to break in or get keys to make an offer. im breaking in today

if this is tax sale...find out what the set aside or redemption period is...how long the old owner has to come back and take the property back

make sure you know if its foreclosure that youre buying the first lein....and therefore the property ...like the man said, title search

i have a property in wilkes barre pa. a former owner who is attached to a title issue lived in brooklyn ny. phones off, we hear she migt be dead...no record of obit or filed will at courthouse

need advice for or reccomendation of a searcher/skiptracer/ p.i. that can track this lady down for us

What are the taxes, insurance, and other landlord costs?

What is it going to rent for?

How much rehab to get it there?

(not relevant to rental math, but important) how much is the house worth for resale when done? Low end comps MINUS 10%

to determine if it will cash flow, I use this math on rentals.

Rent
minus 1/3 for maintenance/vacancy
minus 10% for management (optional)
minus all landlord hard costs
minus taxes and insurance
minus 100/ mo/unit profit
balance tells me what my mortgage payment can be.

mortgagecalculator.org using 7% by 20 yrs tells you what the rehabbed value is AS A RENTAL. always lower than comps...but it's about cashflow not appreciation.

wouldnt work for me. but then, anything that far exceeds 40k in total spend ...includung down pmt, mortgage and repairs...for a grand in income doesnt

your math ignores the value of the money you are putting in for down

i do
rent
minus 1/3 maintenance/vacancy
all landlord costs
10pct mgmt
100/mo/unit profit
balance at 7pct 20 yr mortgage tells me value
minus needed repairs tells me max offer.

in my area this is easy. 15pct cap rates are common.