All Forum Posts by: Mark Davis

Mike: Your formula of 50% works for you because your properties are generally low-end. Craig said that his property is upscale. As far as I've seen and heard here and elsewhere, an expense ratio for a higher end property will be considerably lower.

If you assume a 40% expense ratio, this property looks like this:

Gross rents: $3,000
Operating Expenses: $1,200 per month
NOI: $1,800 per month

You're assuming that Craig is going to be able to do 100% financing here, which I'll contend is impossible in the current lending environment. On a 6 unit, he'll likely have to put down 20%.

Down Payment $53,000
Mortgage Payment (30 yr, 7%, $212,000): $1,410

Monthly gain: $390

Even at your 50% Ratio with NOI of $1,500/month, this property cash flows $90/month.

Welcome to the community. I'd think that the cranes are standing around projects that ran out of money. Everything I read tells me that Miami is far from the place to buy in yet, especially in these incomplete projects. What is attracting you there?

Sounds like the Church of Scientology.

Can someone make a compelling argument why we should vote for someone with less than 1 term in national politics?

Can someone make a compelling argument why we should vote for someone who openly disenfranchises over 2.3 million voters?

Can someone tell me how Obama is not a hypocrite in his support/non-support/support/complete distancing from his religious guide and mentor of 20 years, Jeremiah Wright?

I'm just so confused by the blind support of him. I ask people why they support him and they say change. Great! Every candidate for president is for change. He brilliantly attached his name to the word change, and has coasted forward from there. Every policy he has decided to stand behind is a duplicate of those of Hillary Clinton (barring a few changes and of course his rejection of the gas tax holiday)

Obama has his name attached to lots of bills in his short time in the Senate, however, that's because he was running for president since the last Democratic convention. How many of those bills actually went into law? How many of those bills were destined to die from the beginning?

It is very convenient that he is one of the most prolific Senators for his 2 terms in office (when he decided to show up to vote), yet what has he actually accomplished?

I don't trust him. I think he is one of the most sneaky politicians we've ever seen (and yes, he is a politician, not a preacher or anything else he pretends to be). I think he has run a brilliant campaign. I fear having such an opportunist in the white house.

Hillary Clinton has destroyed him in EVERY debate, and he has chosen to avoid at all costs, any future debates with her. If he can't handle Hillary, can he handle Chavez? Can he handle Putin (pulling the strings in Russia)? I think he'll be another Kennedy (not the Democratic hero, but the guy whose weakness got us into the Cuban Missle Crisis). I fear his inexperience will lead us to a place worse off then we are today with Bush and Co.

Here's a few reads that may change the way some of you look at this guy.

http://www.townhall.com/Columnists/GuyBenson/2008/02/17/the_opportunistic_rise_of_barack_obama

http://wonkette.com/361542/barack-obamas-dastardly-rage-and-corruption-revealed

http://www.houstonpress.com/2008-02-28/news/barack-obama-screamed-at-me/

http://www.huffingtonpost.com/jane-hamsher/barack-obama-profile-in_b_75466.html

I don't think Clinton has a chance at this point, since the Media is in Obama's pocket. I don't think she has a chance since the leaders of the party won't seat Florida or Michigan. I don't think she'll become the nominee.

I do think Obama will become the Nominee, and if so, we'll certainly see McCain in the White House. I'm not sure which is worse, Old or Inexperienced?

What a choice - McCain or Obama? I'll write in NONE OF THE ABOVE!

I'm sorry, but I don't know that the seller's financing (the amount of his loan on his property) is a matter of public record. I know that you can find out what a property was bought for, but how precisely do you find out what the current owner owes on their note?

Is is just me, or is this information that happens to be privileged?

Thanks.

You can predict the price of a home for sale within a few thousand dollars by just eyeballing it.

Where in NYC are you looking to invest? I'm also from NY and heard that the Bronx has some really great deals. Am I right?

I think school is the best option, especially if you are going for a business degree. There will always be time to get real estate, but it gets harder to get an education the older you get.

Wow! Looks very cool so far.

This question has been answered many times before. Have a look in the Starting out or General Real Estate areas . . . I believe you can find the same question in one of them. You can also do a search to find the answer.