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All Forum Posts by: Prabhat M.

Prabhat M. has started 3 posts and replied 4 times.

Post: Assisted living rental

Prabhat M.Posted
  • San Jose, CA
  • Posts 4
  • Votes 2

Hi @Sali Armstrong, I'm in the same boat as Kevin. I recently acquired a property in the bay area which use to be assisted living. I'm not interested in running the business but just being the landlord on this property.

1. How do I go about marketing the property to operators? Are there any platforms to find operators for assisted living?

2. What are the usual lease terms? Is it 5 year or 10 years. Do you put an escalator every year for rent increases.

3. The property is fully ADA compliant however, it's a bit dated.  Should I upgrade the property myself or work with the operator to make the upgrades. 

4. Are there any platforms to connect with other RAL operators?

@Kevin Lefeuvre  - Would appreciate if you can share feedback on your experience so far.

Post: Creative ways to make property in Bay Area Cash Flow

Prabhat M.Posted
  • San Jose, CA
  • Posts 4
  • Votes 2

 Are there any creative ways to make property in bay area cash flow. I'm aware of

a) AirBnB

b) Traveling Nurse Rentals

c) Renting individual rooms

d) Standard 12 month lease with a family

Are thee other options available? Please share your experiences.

Post: Roofing Contractors - 2300 Sqr feet house

Prabhat M.Posted
  • San Jose, CA
  • Posts 4
  • Votes 2

Hi all,

I'm looking to change roof on my rental property (SFH) in San Jose. What type of roof, what brand do I consider installing? Do you have recommendations on any roofing contractors that you have used and are happy with their work? The square footage on the house is 2350 and is 2-story. How much would it cost (ballpark) to have this done?

Post: Need help to evaluate a deal

Prabhat M.Posted
  • San Jose, CA
  • Posts 4
  • Votes 2

Below are the details of a deal I am working on.

Its a multi unit complex in Austin, TX.

I have some buffer build in the maintenance costs however, cash on cash return on this deal currently stands at around ~7%. Do you think its worth pursuing the deal. 

What can I flex in the below numbers (purchase price/capex, etc) that might make it lucrative deal. Any help would be highly appreciated. 

Property Price 1,740,000
Property Taxes (%) 1.55%
Property Taxes($) 26,970
Other Closing Costs (%) 1%
Other Closing Costs ($) 12,180
 
Total Property Value 1,752,180
 
Expected Monthly Rent 13,532
Occupancy rate 93%
Annual Rent 162,388
Annual Rate (adj. Occupancy) 151,021
Annual Gross Rental Yield 8.7%
Net Operating Income
 
Mortgage Interest 58,706
Insurance 7,000
Property Taxes 26,970
HOA -
Capex 6,960
Maintenance Costs 17,400
Property Mgmt Fees 10,080
 
NOI 23,904.3
NOI/Month 1,992.02
Net Rental Yield/Cap Rate 1.4%
Cap Rate ( Excludes Interest) 4.7%
PE Ratio 73.30
Cash on Cash 6.9%

Thanks

Prabhat