All Forum Posts by: Luke King

I have a few duplexes and quarterly water/trash/sewer bills are running about $250 per duplex, so $125/unit.  I've only had the properties for 7-8 months though, so I'm not sure if that will be consistent over time.  That should give you an idea anyway.  Good luck.

I worked with Andrew on my property appeal and got a significant reduction even though the school district counter-appealed.  Great work and definitely worth the investment in my opinion.

One option I offer is for tenants to use the bank at the local walmart.  It's open seven days a week and can accept payment without fees by debit card, credit card, check, ACH transfer, cash, etc.  All they need is your name and last 4 digits of your account number.  

One option I offer is for tenants to use the bank at the local walmart.  It's open seven days a week and can accept payment without fees by debit card, credit card, check, ACH transfer, cash, etc.  All they need is your name and last 4 digits of your account number.  

Hi All, I've just had an offer accepted on my first investment property.  I'd like to ask if you have any recommendations for a top-notch property inspector in Toledo?  Also, do you a recommendation for a real estate attorney?  Thanks in advance....

Thanks for this.  Any idea what the first inspection will cost?

Welcome to BP Paul!

Thanks so much for these updates.  I'll be sure to write the council members.

Those are extremely enlightening links. Now I understand why when I calculated value based on different cap rates and estimated NOI, I was getting figures way below what properties are actually selling for. I was clearly using cap rates that aren't reflected in the local market. The conclusion is that cap rates for residential properties aren't very useful. Thanks Bob! back to the spreadsheets...

I have read that cap rates on small multi-families aren't very useful....though I don't entirely understand why. My calculations above were based on the assumption that 50% of gross revenue would be spent on operating expenses, which means NOI would be 50%. That's how I estimated the cap rate. Thanks for the advice to use comps or GRM....there a few duplexes currently pending on that list....I'm anxious to see what they ultimately sell for.