All Forum Posts by: Peter K.

Hi All,,

Anybody have a check-list (excel, word, etc) that I can follow when I first check out a place to possibly purchase? (like a guide that tells me what I need to look for that includes capex (check list of that as well within the checklist)). Any help would be grateful!

@Anthony Barbato which type of lawyer would need to look over my lease contract? real estate lawyer?

Hi all. I'm in the process of placing an offer on a property - I want to know what a fair market value of the home price is and would like to know surrounding homes to see what they sold for so I can estimate if I'm bidding too high or too low. Are there any websites that show surrounding house prices on a map?

Hi all, I'm looking for a guide to managing a rental property myself? I am within a local area of where the home will be located. my question is: 1) How do I draft a contract once I find a possible tenant for a lease? (do I need a lawyer, etc) 2) For monthly payments- do I have to physically goto the place to collect or is there some sort of online payment system a personal landlord can use? (preferably a very low cost that doesnt eat away at my rent income) 3) With regards to maintenance- where is a good place to start for me to find a handyman that can come to the property instead of me having to be there? thanks all in advance!

Great, thanks for all the input! 

I was also looking at Capex and repairs on this condo- I feel as if I priced it a little too high because the exterior maintenance is all done by HOA (roof, etc, etc.). The only major things I would have to worry about is interior and I feel like I wouldn't need much for repairs/CapEx.

Any thoughts? 

So I'm looking into buying this rental property that just came on the market by a University. It is a 3 BR 3 BATH apartment Unit and the market is hot for these here and they sell quickly so I did my analysis, included all the things like capex, repairs, whatnot, and still come up negative. I know the rent price is fair market value and common sense tells me I should be getting cash flow but math does not, am I pricing CAPEX, repairs a little too high? What are your thoughts based on my calculation?

Wow, great. Thank you all for providing great examples! I appreciate everyone's explanations. 

I'm still confused what CAP Rate (%) means? Anybody have any good explanation? (with examples? Thanks a bunch in advance.

Ahh I see. Thank you so much for the info! Helps a lot. 

I see, so how do you find out about this contract (before I make the official bid)? Do you just speak with the Seller's agent?