Hello everyone,
My name is Themis Kosmidis and I have recently moved to the Cleveland area. I have over a decade of experience in strategy consulting and in real estate underwriting for new acquisitions and ground up...

Does anyone have a "program" or formula to use to establish a reasonable list price based on current income and expenses.

We've been able to rent properties pretty quickly, just as long as the rental rate is appropriate!

Charge the tenants a higher rent rate and include utilities with their rent.

You are likely overpaying by $5,000.Broker fee of $3,000 and Processing Fees of $2,000 seem out of place...but then again, i never used a broker to get a loan so I am not sure about that.If the broker was able to get you an interest rate or loan product that you wouldn't be able to find on the open market...its high, but likely fair.if you are getting a loan product that you could have gotten by going to a normal bank...seems high and unnecessary. 

They should be bale to guide you more based on what you are looking for in the area. 

I'm familiar with Jeff and the C2C team (i've heard great things) and work primarily with Fernandos team who I love.Right now - all of the padsplit loans I am working on for my clients are underwritten based off long term rental rates.

Here’s the situation:Purchase Price: $540,000Down Payment: 20%Mortgage Rate: 7.125% (30-year fixed)Monthly Expenses (Mortgage, HOA, Taxes, Insurance): $3,706Realistic Max Rent: $3,000As you can see, I’m currently short $706/month even with max rent.

I'm currently pre-approved but my lender gave me a "mid-level rate" which I believe isn't my actual rate since I haven't chosen a property but me not being as educated on the behalf and thinking it was my actual rate I decided to rate shop a bit.

We don't bait and switch, we work deals based on actual details of the client's specific deal.