All Forum Posts by: Larry Flanagan

I got a call yesterday from an attorney I know. He has a client who recently lost a nice house to tax sale. They are still living in the house but are about to be booted. They filed a suit against the tax sale buyer, citing improper notice was given or some such. The tax buyer agreed to settle if the homeowner paid $45,000 to get the property back (tax sale was around $12,000, retail value is near $120,000). Obviously, the homeowner doesnt have $45,000 and cant get a loan. They proposed I pay the $45,000 and then sell it on contract or lease it back to them or some such. It was enticing, but I decided to pass, too many ways it could end badly I was thinking. What say you?

"kick out" clause?

Good work.

Have you determined your $65/sf build cost is accurate?

Is there any evidence that one is better than the other to make the phone ring?

My worst loss was $100,000 trading foreign exchange. I made $100,000 one year then lost $200,000 the next.

My worst real estate deal I lost about $25,000 on. Paid too much, rented to dirt bag tenant for way too long, cost me a ton to rehab after I got rid of him, and sold it for a lot less than I projected.

abc

Billboards, transit benches, bus signs, vehicle graphics, etc...anybody have much success with them?

Expenses are user inputted above the column. 50% is what is in there now.

I touch a lot of properties in my wholesaling & flipping business. Sometimes I feel bad that I dont keep more rentals for myself. I put together this financial worksheet to evaluate the merits of rentals over a 20-year holding period. Now I dont feel so bad that I sell everything haha.

Rental Property Analysis Spreadsheet

Does anybody have any hard data they have compiled for expenses/vacancy/management of low-income vs. higher end rentals? I know the rule of thumb around here is 50%, but it seems that low-income is probably higher and higher end stuff could be less.