All Forum Posts by: Michael Ganovski

Hi All,
i have several rental properties, traditional - residential areas.  I have recently moved and am 1031'ing some $$.  I am near a beach.  I do not know how to assess beach the Beach Condo Rental Market.  I'd love a tool, a spreadsheet - plug and play with some numbers, this and that - to see what NOI could look like, Cash on Cash, Cap Rate calculations, etc - all of that.  Does anyone know where I can go to find something like that - an assessment tool, or some rules of thumb, similar to the 1% rule for rental or the 70% for fix and flips?  thank you....Michael

Thank you both for your replies, they are very helpful, most appreciated. I love this community, thank you again

Hi all, I am evaluating a ~$1M property, first time in commercial.  I am a little blind in this area (been doing rentals and flips past 6 years)- I see props in my budget but don't know about feasibility.  Any SME's out there that do this - or can provide some advice?  thank you - Michael

Quote from @H. Jack Miller:

I wish it was that easy in residential or commercial. You really need to focus on the expenses and NOI even in SFD investments. Example you could have one city with low taxes and one with high taxes. We focus on NOI

Thank you for this. So when you look at NOI, as a percentage, how do you use that in evaluating an assessment asa good deal or not? Are use my million dollar investment once again as a barometer, is an NOI of $100,000 good, week, or Soso? I recently was presented with a $375,000 asset and an NOI of $29,000. That is a little less than 10% of the investment. What I'm trying to understand is my best use of capital. Than's again for discussion

most know the 1% rule for renting residential:  all in cost (purchase, rehab, etc.)  all in for say $250,000.  I'd want to collect no less than $2500 / mo in rent.  So - parlay that to commerical.  a $1,000,000 property, is it reasonable to expect $10,000 in lease monies?  Love your thoughts - trying to figure best way to assess an opportunity.  I know there is cap rate and NOI.  I use 1% first as quick and dirty math.

Hi All, one upon a time, I had a good letter template that I used, but somehow, I mis-placed it. I had done some direct marketing to homeowners, 'cash for your house' letter.  Does anyone have a sample or two, templates - that you could share or point me to? thanks....Michael

thank you both. Do either of you do self storage? I am comparing and contrasting the business models and ROI, one verses the other.

does anyone know this law well?  Would a storage facility million dollar property investment constitute a legal 1031 exchange?  Sell an apartment building and move the $$ to a storage facility?  thanks...Michael

Hello,
I live in Maryland and have 3 small multi units in Baltimore.  I am seeking a Prop Mgmt Co, but 7-8% fees are hard to swallow.  The buildings are in decent shape. I can continue to collect the rents and manage that side of the house, but I am looking to move to NC.  Day to day is the issue - calls, maintenance calls, a mouse in the house, a toilet problem, a new leak in a roof, water bugs that show up - those sorts of calls and coordination of repair / maintenance.  that is what I cannot do.  that - and of course, if living 400 miles away, tenant screening and turnover.  any ideas - would anyone take this on for 5%?  curious if you have run into this yourselves......thanks - Michael

great Q Julie - I am going thru this right now.  your GC sounds just like mine!  he gets nervous getting out of his 40 year, "always done it this way", lane.

thanks all for the input and feedback here - I think i am going to go for it!  I just bought a 4 unit 110 year old house - with no HVAC on any floors. Old boiler system, and window A/C.  4 new furnaces and spiral - i think that is the ticket!