All Forum Posts by: Anthony C

I was able to lower taxes on a property that was just assessed higher. I brought a dozen comps with me and was able to make my point and succeeded.

Be very friendly to the tax assessor, and have a case ready to make as if you're going to court. If you can prove your case you should be successful, if you have no case - don't get your hopes up.

Read JScott's blog beginning to end 123flip

I feel bad for the legitimate, hard working family that is out of work and needs temporary help to get back on feet.

Unfortunately, i'm sure that crowd is also made up of many deadbeats, working the system with their hands out to uncle sam. While the hardworking taxpayer pays for their housing! Rioting while running for their free housing? What is this country coming to?

Quoted from video..."I need help with my housing so I don't have to work as much"

Here's a plan..stop having babies, stop working the system, and get off the couch.

Sorry but my sympathy is limited

At least in NJ, when a property is listed with an agent, owner is required to fill out a full disclosure form where they answer comprehensive questions on the condition of practically everything.

The agent is therefore in the know of these conditions and are legally bound to disclose these to the buyer... IF they ask.

Don, interesting... just curious - do your orders come ultimately from projects that are in the public or private sector at the top of the chain?

Funny this post is circulating today when jobs #'s were released today..

Expected: +105k new jobs added
Actual: +18k

Unemployment rate: +.1 to 9.2%

Frightening.

Buffet is right, jobs will return when housing picks up.. housing will not pick up until jobs return. Rinse and repeat.

For simplicity sake in just browsing deals I haven't detailed expenses such as cpa, advertising, etc.. and am just using the 50% rule, so yes repairs look high but that really should be labeled 'all other expenses' to get to 50%.

I have open terms with my bank for 15yr @ 4.5% & 30yr @ 5% at the moment which is prob average? That should be more like 4.8% then but that would only mean ~$400 +/- per year. I think I can do better than those terms though.

@Uwe: thanks I will use 10% going fwd.

Any thoughts on this property.

It is a 6-unit MFH. Rents look a little low at 1.5%, but that is based on asking price not purchase price.

wondering if i'm missing anything...

http://i970.photobucket.com/albums/ae184/thecentfamily/br.jpg

When speaking about cash flow, do most of you refer to it pre or post debt service?

p.s. - Thanks to Jscott, as the spreadsheet used was based on one from his site and then customized.

Phil,

I'm curious as to why or how you're basing your value vs. zillow's highly inaccurate and wildly fluctuating zestimate.

There are many posts and arguments around the web on the problems and tainting this zestimate does to both buyers and sellers thoughts.

In my area, the zestimate fluctuates constantly and way to quickly. I have seen my primary residence change in swings of $50k in the span of a few days.

The zestimate is blind, meaning if 2 similar homes side by side are fairly close, but one has a $25k brand new chef kitchen and the other has a 25yr old throw away kitchen, zillow is none the wiser, hence inaccuracy.

Is this zestimate more accurate in other parts of the country? In the northeast it is considered a joke.