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Results (1,074)
Account Closed 17-Unit/35-Bed Student Apartment Investment
6 January 2020 | 0 replies
This will allow us to put this unit back into rental circulation in time for the Spring 2020 semester.
Mike Row using an electric tankless water for heating small apt???
7 November 2017 | 8 replies
Plus they don't include re-circulation pumps. 
Valerie Adams Scrubbed Vacant Non Owner Occupied Leads
30 December 2017 | 0 replies
I do not re-circulate leads (because I just don't like that.. lol) So you must text me to let me know what county you are interested in so I can see how much data we have. - https://goo.gl/YgiV2GThis can help take your business to another level.
Michael Rush Any pros from NE that could help walk me through an analysis?
7 January 2018 | 4 replies
-MikeProperty 1: $650,000 | 10 Units | 8.2% CAP | 1Bed, 1Bath Gross Revenue Q3 2017MonthlyAnnualUnit 1$ 615Unit 2$ 630Unit 3$ 615Unit 4$ 745*New Tenant 08/10/2017Unit 5$ 615Unit 6$ 635Unit 7$ 665*New Tenant 08/10/2017Unit 8$ 570*Long Term TenantUnit 9$ 600Unit 10$ 635Annual$ 6,325.00Other IncomeLate Fees$ 58.33$ 700.00Laundry Revenue$ 150Total$ 6,533.33$ 78,400.00Vacancy0Expenses:Cleaning and Maintenance$ 150$ 1,800Insurance$ 442$ 5,305Legal$ 41.67$ 500Repairs$ 278$ 3,338Taxes$ 606$ 7,276Utilities$ 632$ 7,582Total Exp$ 2,150.12$ 25,801Income$ 4,383.22$ 52,598.58*Current Offering Price$681,8127.71%Units: 4,6,7,10 are on Current LeasesAll other units on Month-to-Month from previous leasesSingle Meter for Water/Gas, can be billed back to Tenant monthlyElectricity in Tenants NameProperty 2: 23 Units | $1,652,000 | 7.24% CAPUnit Mix:Proforma:Rate/MonthSF/Unit1 Bedrooms12$ 650.00$ 7,800.008002 Bedrooms11$ 800.00$ 8,800.001000$ 16,600.00Actual Gross Revenue Q4 2017:MonthlyAnnualUnit 1$ 750Unit 2$ 550Unit 3$ 550Unit 4$ 475Unit 5$ 505Unit 6$ 605Unit 7$ 585Unit 8$ 795Unit 9$ 595Unit 10$ 550Unit 11$ 600Unit 12$ 525Unit 13$ 570Unit 14$ 625Unit 15$ 570Unit 16$ 630Unit 17$ 555Unit 18$ 500Unit 19$ 525Unit 20$ 490Unit 21$ 600Unit 22$ 650Unit 23$ 675Monthly Total$ 13,475Other IncomeLate Fees$ 50.00$ 600.00$ 600.00Laundry Revenue$ 245$ 2,940$ 2,940.0010 Garages (Included in Rents)$ -$ -$ 4,200.00Total$ 13,770.00$ 165,240.00$ 206,940.00Vacancy: (100% Occupancy***)$ 688.50$ 8,262.00$ 10,347Total:$ 13,081.50$ 156,978.00$ 196,593.00*Assumed 5%Property Management: (Self***)$ 915.71$ 10,988.46$ 14,485.80Total:$ 12,165.80$ 145,989.54$ 182,107.20*Assumed 7%Expenses:Cleaning and Maintenance$ 291.67$ 3,500Full Coverage Insurance$ 710.42$ 8,525Legal$ 50$ 600Repairs$ 279$ 3,350Taxes$ 1,392$ 16,707Utilities$ 1,082$ 12,988Total Expenses$ 3,805.84$ 45,670Analysis NOI:$ 8,359.96$ 100,319.46$ 136,437.12Asking Price/ Cap Rate$1,652,0006.1%8.3%Current NOI/CAP-Actual Operating:$ 9,964.16$ 119,569.927.24%Owner Improvements & Costs:All New Windows$ 40,000New Hail Resistant Roof & Gutters$ 40,000New Garage Doors$ 10,000New Carpet in Common Areas$ 8,000New Circulating Pump/Hot Water$ 2,000Unit Upgrades/Appliances$ 20,000$ 120,000Kitchen & Bathroom Reno:Unit Cost $3,000; Resulted in $150 - $200/Unit Rent IncreaseOwner creating a waiting list for unit reno's from tenant demandUnit Rental Rate Inflations:Rent Increase Notices given every year, Tenants aware & compliant
Mike V. Closing escrow Friday- seller keeping future rents
21 February 2018 | 8 replies
Yes, all sides in an escrow would need to sign off on the terms and amount of a holdback... and at this last hours in the process you're in a tough spot as this kind of thing is better discussed, circulated and agreed to earlier so people have time to engage their long term thinking about it, their ethical brain about it. 
Mike Cotter I'm Paying for Heat on My 14 Unit Apartment and its Killing Me
17 October 2017 | 24 replies
If I knew then what i know now, I would have filled my entire attic (save a small space for air circulation) with blown in insulation up north.
Account Closed Analyzing a 5 Unit Rental
30 October 2017 | 19 replies
I'm not sure if i'm missing anything else, so any advice would be great before I jump in...Here are my figures (calculated monthly)Purchase Price: $93,000.00-----------------------------------------------------------------------------Total Rent: $2,730.00Insurance: $52.00Property Management: $163.80Capital Expenses: $273.00 (i just used a 10% estimate)Maintenance: $136.50 (5% of Total Rent)Vacancy: $163.80 (avg vacancy for the area is 6%)Utilities: $448.25 (this number seems high, but i flesh out below where it's coming from)Taxes: $593.95 (this seems really high and i'm wondering if there's a way to get it down.Mortgage: $499.00 (93k @ 5% interest rate over 30 years)Cash Flow: $399.70Net Income - Mortgage: $898.70Cap Rate: 12%-----------------------------------------------------------------------------It needs 1 new hot water heater, but he'll have that replaced before purchase.1 unit is vacant, but again, it'll probably be filled before i purchase it.There could definitely be some other repairs, but nothing major and just maintenance things that aren't urgent.Utility ExplanationsMonthly Utility Averages for 2017 YTD:Gas: $72.43 (for hot water only, no heating bills are paid)Electric: $39.31 (For common area lighting and circulating pumps on boilers)Water: $72.95Sewer/Refuse: $263.56 (Charged by the unit for refuse + usage for sewer portion)Total Monthly Utilities: $448.25This seller also has other properties for sale that if this one works out, it might be a good way to grow my portfolio.Some Property PicturesApartment 5 (only one I have pictures of right now but most are laid out the same)
Tareq Salaita What’s your second favorite investment after real estate?
22 June 2018 | 76 replies
When I was in high school in the 1970's I took silver coins out of circulation
Jake Deiters Headaches with tenant moving out
14 February 2018 | 5 replies
I called her, she said we could enter though she wasnt home, and we discovered she had all 4 stove open flames turned on high and she was circulating that heat using a fan!
Mark Smith Program Thermostat or Set and Forget
18 January 2018 | 6 replies
You can also use the circulate feature that will help notice the temp difference.