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15 August 2018 | 11 replies
If you have others ways to boost monthly income (pet fee, garage fee, storage area fee, etc) it can reduce the other costs you mentioned.
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13 August 2018 | 4 replies
Income Evaluation No of Units Unit Rate Income 2 Bedroom Unit A 1 650.00 650.00 2 Bedroom Unit A 1 650.00 650.00 2 Bedroom Units A 1 650.00 650.00 2 Bedroom Units B 1 650.00 650.00 2 Bedroom Units 1 - - 3 Bedroom Units B 0 - - Garage Units 0 - - - Storage Units 0 - - Laundry Units 0 - - Comm Units 0 - - Comm Units 0 - - Comm Units 0 - - Total Monthly Income 5 2,600.00 Total Annual Gross 31,200.00 Total Annual Cost / EBIDTA 9,911.86 Net Cash Flow (Annual) 21,288.14 Net ROI 42.39% Monthly Cost of Operation By Landlord By Tenent Monthly Annually Monthly Taxes x 137.50 1,650.00 (From Historical Data) Montly Space Rent (MHP) - - N/A Monthly Insurance x 100.00 1,200.00 Calc'd Monthly HOA - - Posted Monthly Water/Sewer X 320.00 3,840.00 Estimated Monthly Garbage X 160.00 1,920.00 Estimated Monthly Electrical X - - Tennant Monthly Heat/Gaas X - - Tennant Monthly Other Utes x - - N/A Monthly Yard Maint x 20.00 240.00 Estimated Monthly Maint - Op Ex x 260.00 3,120.00 Calc'd - 10% Cap Ex x 260.00 3,120.00 Calc'd - 10% Monthly Vacancy x 182.00 2,184.00 Calc'd - 7% Screening/Tennant Management x 20.00 240.00 Estimated Monthly Management x - - At Risk - Self Manage MONTHLY OP EXP 1,459.50 Total Annual Expenses 17,514.00 Total annual Debt Service 8,452.36 Net Operating Income NOI 13,686.00 Net Income 5,233.64 ROI % 10.42% Low/Average CAP Rate (Net Income/Purchase) 2.92% Extremely Low Cash Flow per Door 109.03 Very Low Tax Assessment Estimated Expenses - 50% Rule 159.50 Conservative Banked Amount - CAP Ex, Repairs, Vacancy 8,424.00
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23 November 2018 | 3 replies
Eventually I’d love to get in to apartments, mobile homes or even storage unit facilities but I have to learn to flip over, before I can crawl, before I can walk.
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23 August 2018 | 15 replies
You have two homes that are rented at 1,000 and 1,050 a month with 2 year leases.No mortgages on either home.Both houses were purchased and renovatedOne Is worth 135k wIth about 30k equity.One Is worth 130k wIth about 50k equity.Do you sit fat and happy with these two?
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10 September 2018 | 4 replies
It's difficult here to differentiate between giving good advice and advocating mentorship programs, workshops or courses to advance your one on one activity and thus speed up the learning curve and timeline to reaching and stretching your goals.I personally have gone the journey from DIY wholesaling, flipping, seller-financing SFR and international Short Term Vacation Rental management and then arrived at commercial multifamily and self-storage real estate syndication due to the fact that it offers the maximum scalability, economy of numbers and at some point truly leads to passive, residual income and thus to time freedom and choice.Send me a colleague request to kick the tires, set up a call and get a few burning questions answered in real time, one on one.
12 July 2018 | 5 replies
Wait for the right pitch...a fat pitch.
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23 July 2018 | 3 replies
I have a question regarding how to implement extra monthly charges for the use of a parking spot/garage, or storage or other additional items in Los Angeles.
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17 July 2018 | 4 replies
Could I use it as storage or something of that nature to get around it being a commercial unit?
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14 July 2018 | 5 replies
There is this one and another one in Deby NY ( this one has 54 acres and i am looking at either selling it with the old house on it or putting storage units on it) With regards to FL, a loan to build the 36 units is one option or i am working now at entitling the lot then selling , so I am open to either.
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16 July 2018 | 1 reply
Home storage has gotten a good bit of negative press and opinion lately, and, of course, the IRC section 4975 text about "providing services" for your IRA assets is something about which you may want to consult with your legal team.