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11 March 2018 | 5 replies
Talk to them about their services.2) Call the local reps from the national chains, Marcus & Millichap, CBRE, JLL.
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12 March 2018 | 1 reply
Many large, national chains have no training and no focus on investing at all.
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16 May 2018 | 4 replies
Just for background, I work in logistics and supply chain management.
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16 May 2018 | 1 reply
(Utilities were rounded up on my part)The asking price is $115K (in a very small town, but the biggest town within a 50 mile radius).Monthly Rent 280010% Vacancy - 280Gross Monthly Operating Income 252010% Property Management 28010% Repairs Maintenance 28010% CapEx Reserves 280Property Taxes 280Property Insurance 200Heat 270Electricity 225Water 75Monthly Operating Expenses 1890 Total Annual Operating Income 30240 Total Annual Operating Expenses - 22680Annual Net Operating Income 7560Purchase Price 115000Cap Rate 6.57%25% Down Payment on Loan 28750Loan Amount 86250Closing Costs 300Length of Mortgage 20 yrsAnnual Interest Rate 5.0%Total Annual Debt Service 6831Annual Cash Flow 729Monthly Cash Flow $60Cash on Cash ROI 2.3%When I first saw a "6 unit apartment for only $115K" I thought it was a gold mine.
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16 May 2018 | 15 replies
Buy from seasoned, established sellers, instead of some joker broker daisy chain on Fakebook or Linkedin...
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27 May 2018 | 14 replies
But we're a couple hundred years into it at this point.If you review the chain of title to every property that is subject to ground rent, you will find that at some point back in time the fee simple owner of the land decided to create a ground lease.
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18 May 2018 | 4 replies
There is some type of official paperwork that you file with your city/county that when the buyer tries to close on the property with the seller, your contract shows up as part of the chain of title.
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3 June 2018 | 8 replies
But I doubt this is the case from the sounds of it.I have purchased properties before where there were incredibly complex title searches, where multiple estates were involved, heirs died without a will, hand written deeds in the chain with incorrect or incomplete legal descriptions, etc. - and in instances like these, I've paid the closing attorney upwards of $1k - $2k just for his fee alone.
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24 June 2022 | 69 replies
My company has over $100 Million dollars of currently finished and built properties for sale right now in four different states in four major markets: Park Slope and Caroll Garden Brooklyn NY ; the New Jersey Gold Coast overlooking Manhattan ; Center City Philadelphia prime Rittenhouse Square ; And dozens of oceanfront condominiums and single family homes along the beach in super prime Palm Beach County Florida.