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11 June 2016 | 21 replies
In fact (at least in Palm Beach, Broward and Dade counties), you can filter and sort your search to only show the records for a particular property.
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31 May 2016 | 10 replies
& Credit Loss (5%): $1,734 (I include the laundry income in this calculation because it is safe to assume that when you experience a vacancy, you will experience an equivalent proportionate loss in laundry usage).Gross Operating Income: $3,2946RE Tax: $5,237Insurance: $1,200Lawn: $870Fuel: $636Electric: $240 (seems low for 12 months of laundry)Water/Sewer: $2,029.94Property Management (10%): $3,294.60Repairs & Maint (5%): $1,647.30Total Expenses: $15,154.84OER: 46% (Lower than 50%, yes, but the 50% rule is for quick assumptions and somewhat worse-case. 46% is realistic for a multifamily, but you still need to verify all of the known variables to be accurate).NOI: $19,525.16CAP (assuming $245,900): 7.94%Now, I don't know the prevailing CAP Rates for 3-families in that part of Manch, but I would have thought they would be better; thereby suggesting that the price is too high.Cash Flow: I'm going to have to make some assumptions here.
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28 May 2016 | 12 replies
Here is the numbers.Rooms: 6 bedrooms 2 bathroomsTenants:3 tenantsUnoccupied rooms: None Rent for tenants: 2825$/month = 941$ each Average yearly Income: 34, 200Property Listed Price: @$299,000 Offered Price: $290,000EXPENSESTaxes: $1722 per year = 200Insurance: 200 City water 150Lawn 160$ Estimate for Vacancies: 5% 142.5 Its actually 5.2% Repair: 7% 170Property Management (10%) 285-> She told me she can have a friend watch and care for the property for meMortgage: 5% down(14,500) at 2.3% for 1206(adjusted)Expenses total: 2228.52$/monthCash flow= 596.48 NOI: 7157.76ROI = NOIx12/14,500 = 49%Okay guys so Looks like my Cash flow and ROI is GREAT.
27 May 2016 | 1 reply
People love to live near the water :)If you can find something near the oceanfront area, you can get higher rents.
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27 May 2016 | 4 replies
There were multiple times when I was living there during the four years that there was a water leak and caused damage to the apartment and dampened the carpet.
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30 May 2016 | 17 replies
I had a 800k house in Washington county. which was on septic and private water tax's were 6k a year total.. not bad.
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28 May 2016 | 7 replies
I'm assuming I should call now to get the utilities(water/sewer) in my company name with an expected start date.
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30 May 2016 | 6 replies
If possible get one on town water and sewer, underground utilities and paved roads.Check out the Start Here page http://www.biggerpockets.com/starthereLocate and attend 3 different local REIA club meetings great place to meet people gather resources and info.
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1 June 2016 | 4 replies
,I see a lot of listed properties that have one or more utilities in common.There was one in Caldwell that had Electricity shared between 2 units, and a lot of them have either water or gas shared between one or all units.Anyone have any experience in separating out utilities(Electricity OR Water OR Gas)?
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27 May 2016 | 1 reply
One unit has bedrm and bath closed off due to water damage, it's currently rented as a 1BR but could be repaired and rented out as 2BR probably for an additional $200-300/mo.This seems like a steal, assuming everything checks out with house inspection etc, but what makes me most nervous is I'm not planning to do this full time, I have a job and I can't be driving up there every week to coordinate the repairs and check on them.