All Forum Posts by: Louis P.

I could see demand from the tenant side, in the same way payday loans have a market.  

I'm not sure I see the value from the landlord side unless it's a rent guarantee product.  Meaning timeliness of rent is likely related to general credit quality to begin with, so if getting rent on time is an issue, it's much more likely to be a question of getting rent at all.

Hi Karla, I'd be happy to speak with you about what we can offer if your properties are in Western, MA.

Lmk, thanks!

I come across this pretty often as well.  My view is that it's more correct to compare against the legal bedrooms, but practically people list and buy based on what they can rent rooms by, so offering by records wouldn't get you the property.

There is a risk to buying/running a property like that and in my view is much better to sell that risk than buy it, but the numbers and individual's risk appetite will dictate in the end.

I have a client looking to sell his SFH (nice 5BR on a large lot), but there are tenants in place who are delinquent on rent and are not allowing people in. We don't have current pictures and no way to ascertain the condition of the home. In all likelihood they'll have to be evicted.

The earliest they could be evicted would likely be around August 1st.  We're wondering how to approach marketing the property right now and being sold as-is with the tenants in place.

I've been involved with multi-family properties marketed in this manner, but this is a bit different. Any thoughts or suggestions on if we should put this on the MLS and how to market it? Price would be commensurate with the added difficulty and lack of transparency.

Hi Asad, I just sent you a message and would be happy to talk to you in more detail.  We're a local Property Manager and can help with what you're looking for.  Best!

Agreed, percentage of rent is how to go about it, I was just trying to equate what kind of $ value that works out to for people given area rents can vary widely.  The dollar value makes it easier to compare the cost per hour I'm earning given the number of hours required for that unit.  I'm trying to more carefully track time per unit to baseline the real cost.

Good idea Nathan, I've also been trying to find little ways like that to earn incrementally.

Appreciate the input and curious to see what kind of numbers others are seeing....and nice numbers Peter, that's great!

I'm curious to see what other property managers are seeing in their markets.  What is your revenue per unit?  Any context on the type of market would be helpful too.

For example, in one area I have a 3-Family priced at $93 per unit per month.  This is a C class market which is more hands on.

As a counter example, there's a 2-Family in a nice B class market priced at $55 per unit per month.

Just trying to get a sense for pricing and some opinions.  Thanks!

Thanks for the perspective.  

I guess the reason it seems strange to me is I'm looking at it from a corporate background in manufacturing.  If we hire a company to produce a widget for us and they then hire other companies to make component widgets - we aren't liable for our contractor's deficiency with their contractors. 

I'm surprised the liability rests with the homeowner and not the GC.  Is this a TX thing or generally applicable?  

If so, seems to me one of the big benefits of hiring a GC would've been liability protection.  If that's not present, seems like a paying someone to coordinate while taking on all the downside of added cost/risk.  Must be good being a GC.

Syed makes a great point. What I've also found is OO can overpay for small multi-family properties - they have access to better financing terms and can justify the price with soft benefits from living there.