All Forum Posts by: Account Closed

The cap rate for the aparment (based on the numbers here), seems to be 16.23% and expenses somwhat low. You want to look into what the cap rate of a similar investment in the area is and what your cash flow may be if you are aware of what your mortgage rate/payment is.

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Originally posted by @Debra Muth:

I am looking at putting an offer in for a rehab in a college town. The retail value after rehab would be 91K, the bank is asking 65K, I am putting an offer of 26,600. I think I will need to put in about 15 K in work to bring it up to a rental property. Does anyone have any comments about this valuation?

Is this a foreclosure, short sale or...? If the house only requires $15,000 in repairs & ARV is $91,000; the $26,600 offer would mean you spent a total of $41,600 or 45.7% of ARV to get the house. How accurate is the repair estimate, ARV and how did you get them?

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Originally posted by @Senad Salihovic:

You can always check with banks in the area in regards to what rate they might have.

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Originally posted by @Chris Anderson:

...What's the best place and most accurate source for market rents in a particular area?

The local multiple listing service in the area may help.

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Originally posted by @Brian Rahaley:

@Greg F.

What you want to be aware of regarding direct mail is that the more motivated sellers you make contact with, the better.

The direct mail industry has been around for some time and based on which research report you look at, you may get a different number in regards to average response rates.

Conversion rate will often vary drastically as that has to do with your personal selling technique.

We supply direct mail leads (absentee, bank owned, vacant etc.) in the Jacksonville Florida area and may soon want to track some of the response rates that clients are experiencing.

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Originally posted by @Leon Y.:

With the current currency crisis in Argentina I wonder if anyone had purchased real estate there before or knows any contacts there?

Were you planning to buy in Argentina? It seems like this issue was drastically serious. Some of the sellers of real estate there were apparently demanding to be paid in an alternate currently other than the argentinian peso. Seems somewhat turbulent.

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Originally posted by @Shelly Scruggs:

I wanted to refi and use equity in my rental property to fund another buy and hold purchase. Discovered I was upside down. Is there anything I can do?

Any details regarding the property? Value of mortgage, value of property (per appraisal) etc.? How long have you had the rental? The refi table isn't exactly where or when you want to discover this type of information.

1 Vote

Originally posted by @Arvin T.:

Did anyone ever bought a multifamily in southern California as their first investment?

Where exactly in Southern California where you looking at?

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Originally posted by @Tina Encarnacion:

... am currently putting in an offer on a duplex. Offer is $239,000 ARV is $400,000 it needs cosmetic repairs in both units so I am estimating $35,000-40,000 in rehab costs. I am thinking rehab can be completed in 4-6 weeks....

You typically want to base project duration on a contractors estimate that uses the exact nature of repairs?

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All Forum Posts by: Account Closed

Account Closed has started 1 posts and replied 380 times.

Post: Analyzing the numbers: Which ones are important to you?

Post: 10 Unit Apartment

Post: New rehab offer

Post: Is this normal Or am I getting ripped off?

Post: Evaluating multi-unit deal

Post: Measuring direct mail response rate & effectiveness: Any horror stories?

Post: Has anyone purchased real estate in Buenos Aires?

Post: Upside down

Post: Buying a multifamily in socal anyone?

Post: What Should I do with this property?