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27 March 2015 | 3 replies
Most of the larger organization I have called have their own apartments/dorms and are not interested.Section 8 in Austin does not pay any type of premium for these amenities so I'd rather not start there.I would love to rent to an organization or family that can utilize the benefits this house offers-- as it is very niche designed.Any suggestions?
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7 April 2015 | 13 replies
What size postcard and list did you utilize?
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28 March 2015 | 4 replies
You still need info like age of the building which will affect repair costs, cap ex, and utilities.
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29 March 2015 | 6 replies
I really want to utilize this site and peers experience to fulfill my success.
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28 March 2015 | 4 replies
Is the landlord covering the utilities or not?
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28 March 2015 | 7 replies
Lastly utilizing all that they offer here on BP.
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29 March 2015 | 11 replies
If it's low equity I generally show them -Selling w an agent, paying 8 to 12 per cent in not just commissions but closing costs, sellers concessions, waiting to sell costs, like PITI and utilities, and spruce up costs like fresh paint or mild landscaping-Renting, paying a property manager, risking damage and eviction costs, lost rent-option one - Owner finance - I take over PITI and maintenance -option two - I find a lease 2 own buyer for free, 24 payments, then house mortgage is paid off, you pay insurance and maintenance Seller picks his solution If he picks option 1 or option 2, I tell him how fast I can do it, and I dictate terms, I am the solution provider
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28 March 2015 | 1 reply
Don't be afraid to bring in a basement foundation repair company and get a quote to get the issues identified and fixed. 20% of 110k = 22k Down110k - 22k = 88k Financed88k @ 4% for 30 years === Monthly Payment of $420 (principle and interest)Other Numbers you'll need:Property Taxes (get on the county website)Insurance (just call an agent or ask owner)Repairs ( Really depends on condition of property, 10-15%)Utilities (get as many months of bills as possible)Property Mgt (even if you plan on doing this yourself)vacancy (depends on market and property, 10%)LawnCap Ex (depends on property but sounds high on this building) 15%These are VERY VERY rough numbers but lets look anyway...Gross Rent- 22,500 (assuming all 3 are rented at 625 and no washing machine income)ExpensesP&I- 5,040Taxes- 2,200 ( I figured 2% of home value)Ins- 800 Repairs 2250 Water 1800 (150/mth) Look into heat billVacancy 1125Prop Mgt 2250Lawn 300Cap Ex 3375Total 19,140 22500-19140= 3,360 Cash Flow YearlyInvestment of 22,000 / 3,360 = 15.2% ReturnPlus tax advantages, paying a little down on mortgage, possibly appreciation, learn a lot.Location, Basement, Local Market, Comparable properties, and firming up numbers ALL need to be looked into.Let me know what you think!
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5 April 2015 | 12 replies
At this time, I have not been able to utilize craigslist at this time, but I will definitely start using craigslist to as a tool to help me advertise.