All Forum Posts by: Navya Rajput

Hi I am looking for a way to calculate the taxes for the properties that I am evaluating. For eg If I am looking for property in Worcester, MA. I am looking at this site http://www.worcesterma.gov/finance/assessing. But the numbers doesn't match with the zillow's estimates of per month taxes on the property. Please can anyone tell me the correct way to calculate the taxes on the property?

Thank you :)

Regards

Navya

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@Ricky Beliveau : I clearly asked her if she is talking about per month payments and she said yes. I may be wrong. I also asked her to send me a mail reiterating everything she said on the phone so lets see.

Thank you so much for the information. I'll clear all of that with the lenders I will talk to in future.

Thank you :)

Regards

Navya

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Hi all

I am currently looking for MFH in Greater Boston area and I am in talks with a lender. I have not talked to too many lenders. But she told me that for MFHs they collect 75% of the rent the property can generate which includes the mortgage payments per month. Is it common for lenders to ask for a share in rent? Can anyone please put me in contact with some lenders?

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Originally posted by @Bob Couture:

Awesome! Look forward to meeting you in person!

Sure Bob.

Thanks :)

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Originally posted by @Jeff B.:

Let's assume we're discussing apple/apple units ( same bed/bath, sqft & all amenities too), the FMR is certainly City specific and frequently further refined by neighborhoods.

On one city block, I've seen lows of 825 to 1150 and the differences were the exterior paint.

Don't assume there's one right answer.

Hi NA Beard

Thank you so much for the help :)

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Originally posted by @Bob Couture:

Hi @Navya Rajput,

Smart move getting out to the REIA's. Best place to network and learn. In your area definitely check out the Black Diamond meetings. If you find yourself looking to invest in Western Mass come visit us at the WMASS REIA. Good luck!!

Hi @Bob Couture

I have joined the group. Perhaps I will meet you at the next meetup. :)

Thank you :)

Regards

Navya

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Originally posted by @Michael Lee:

Originally posted by @Navya Rajput:

Hi All

I am primarily interested in rental properties (Buy and Hold Investments). While I was looking for SFHs and MFHs in my area and trying to analyze some properties I was getting confused regarding how to estimate the rentals I can earn from the property or specifically from each unit in case of MFHs?

Is this something you can estimate only by visiting the property in person or is there a way which can give a ball park range regarding the rents? What I am doing up till now is estimating the rents by comparing them from the rents asked by large apartment owners from apartment.com and rent.com for comparable units. Is this a logical way to get a rough estimate on the rents?

Using the above method I found that most of the properties would generate a negative or probably zero cash flow (though the returns from them would significantly reduce or even sometimes completely cover my rent but the overall cash flow is -ve or 0). Would such deals be considered good? OR good deals are only the deals that generate some +ve cash flow?

Thank you :)

Regards

Navya

Hello and welcome to BP! Probably, the best way to use rent is to see what similar units in that neighborhood are renting for. If the numbers don't work on that one go on to the next one. Be sure that you know what the capital expenses are going to be. They can really screw up a deal if you don't calculate them. If you decide to make a lower offer just let the owner know why. Good luck!

Hi @Michael Lee

Thank you so much for the suggestion and help :)

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Originally posted by @Jay Orlauski:

Originally posted by @Navya Rajput:

Hi All

Thank you :)

Regards

Navya

Sounds like your on the right track with looking at rental on apartment.com and rent.com- but remember that a lot of those are apartment buildings so it's not always comparing apples to apples when you are trying to find SFR & MFR rental prices. Here is one site that I and a few other investors I know called Rentometer @ https://www.rentometer.com/ . You can get some quick and dirty stats on the local rents in the area - you can put in the area code and number of rooms and the rent amount and it will tell you if the rent is too high too low or just right .. it tells you how many rental it queried and it also has supporting information available to show where they got the data from , but I think that info cost extra - hope that helps you.

Hi Jay

Thank you so much for the help. I'll definitely look at the site.

Thank you :)

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All Forum Posts by: Navya Rajput

Navya Rajput has started 6 posts and replied 30 times.

Post: How to calculate the tax

Post: How to calculate the tax

Post: How to calculate the tax

Post: lender's deal

Post: lender's deal

Post: Buy and Hold

Post: How to estimate the rent?

Post: Buy and Hold

Post: How to estimate the rent?

Post: How to estimate the rent?