All Forum Posts by: Tracey Williams

I agree with Tom 100% (read a book, attend serminars or RE courses) -TAKING ACTION is the key factor.

I have paid for a serminar that was worth the price and for another course that I shouldn't have paid for but I have now learn my lesson.

What I do now is to go get their books first from the Library, if their view is in line with my goal I can then invest in their materials

I met a lady last month at a REIA meeting that has spent over 15k in books & serminars and she is yet too do her first deal!!!

I am learning so much from BP because here we cover very angle of RE.

Thanks again to everybody.

Thanks Jon,

Am wondering what seller use to arrive at their price because all the properties I have analyse today are listed way too high than my calculation.

Hopefully I willl find one that we work for me.

Hi dependable mentors,

Am wondering if someone could post the 50% formular to arrive at a purchase price the way Josh did with the property Analysis Worksheet.

Thanks

Jon,

Am not sure what am doing wrong but for a 12 units that is rented at 759/month. If fully 80% occupied what will be the offer price using the 50% formular.

Let's use 20% down payment, 6.75% rate & 30yr.

I got $756k but it does not look right to me.

Thanks

Thanks Jeffery,

Below is what I got from a local back here at week.

5 year term/20 year amortization=5.3
5 year term/25 year amortization=5.5

There is a 1% origination fee associated with the loan.

Thanks Jon, I get it now

Thank Jon,

Am from columbus and my goal is to buy & hold.

Thanks.

Thanks Jon, but am lost on how you arrive at the $150.112.

let me go and study the rental property forum

I just knew I could count on you!!!!!

Hi everyone

I went to check out a 4 unit multi-family today.

It's listed for $269,000
The rent/unit is $650.00
I check out the value on the auditors site and it value for $179,000

It was purchased in 2005 for $160.000
It was built in 1975
It's in a great sch district and 100% occupied

What will be the best offer price for this property?

I never feel confortable offering a price higher than the auditor value price but I feel offering close to 90k below the asking price may offend the seller (going by the price on the auditor's site)

The seller has done some renovation since he bought it(new roofs, new windows)

My question is " what is the best offer when the listing price is way too high than what it's value for in multi unit apartments?

Thanks for all your great contributions :D