If so use a broker familiar with the property type they should know the market and be able to answer rental rate questions or run a market survey for you.

We agreed to have the land surveyed to prove we were out of the flood plain (which we did, and which we are) but during all this the buyer's realtor would take up to 4-5 days to response to a simple question.

Bye the way, we're starting to do some surveys - what do you like about the place, what don't you like etc.

Debt expense is roughly $2400 / month Annual Tax: $10,500 Insurance: $3,500 Heating expense (Nat Gas): roughly $4850 / year (One boiler for entire building & two water heaters) Estimate expenses at 5% of Gross Income Annual Rent Roll: 70k ACQUISITION COSTS: Lawyer: 1k Appraisal & Environmental: $2300 Tank Sweep, LLC Set up, Survey, Misc: $1500 Title Fees & Bank Attorney: $5K Bank Origination Fee, Gov Record Fees: $3k The property did come with one unit vacant which I filled this month.

Glad to hear the place you surveyed looked like it was in great shape.

I would like to do a survey of entrepreuers who work for themselves.

All in all though, think we raked in a solid deal.Please review my numbers and let me know how I did.Purchase price: $92,900 (all cash)Closing costs: $1,800 (inspection, survey, etc)Renovation costs: $22,000Holding costs: $1500 (utilities/taxes/insurance)ARV: $160,000Closing costs: $8000 (realtor commissions)Net Profit: $33,800!

., highway) As far as the basement sq. ft. my GC and I surveyed the property and the 2100 sq. ft. does not seem to include the basement, if it does it is only a small portion (where the fireplace is).

Do you plan a trip once a year to check on the property; get in touch with the neighbors and ask how things look; send the tenant a brief survey every six months…?

Jeff there is a lot more too these types of things then it looks.On my commercial deals with clients surveys reveal sometimes encroachment issues etc.The attorneys step in at that point.