Hi all,My tenant just emailed me and said that there are termites ( must be dry wood ) running around on the walls / carpet in their 2nd floor unit.So, what would you do to try and control this problem and minimize the cost.I think I read that you must get professional help on this.There is the Orange Oil options vs fumigation ( hopefully not ).What suggestions, tips , options do I have ?

Most appraisers in this neck of the woods stop taking repairs as justification for a higher price.

Mike,I may be able to have my guys go to your neck of the woods for your kitchen in your rental.

Hi Mario,My neck of the woods Pompano!

Novice investors armed with nothing more than the knowledge they had gained from other crap courses began sucking everything in sight up through straws.

Wood siding rots and needs maintenance and asphalt siding looks like crap and is rarely installed correctly.

Finally, yes, slappin on brand new, energy efficient windows will be a great selling point specially if the houses in the neighborhood have older (aluminum, wood) windows.

Jason in my experience most of the time the first is larger than the second.Most of the second in my neck of the woods were done with these 80/20 loans so no mortgage insurance would be paid out.Even though the same company originated the 1st and 2nd loan both loans were sold off to different parties.So if you have for instance a house that was bought on an 80/20 loan program it might look like this.Paid for house year 2005 200k 80% 160k and 20% 40k.Fast forward to 2010.

Never be in the woods without a gun!

Property Description:2 building 9 unit apartment complex located in a downtown area of a Midwest city with inter-state, water, and rail transportation systems in place.The building is about 40 years old, but has been maintained very well.Building is 11750 Square footThe lot size is 16350 square footNew roofUpdated interiorhard wood floors, crown molding, and French doors.Units: 5 3 br, 3 2 br, and 1 1 brGross annual rent $55620, 1 3 br is vacant, rent would be $750 per month.Asking price $400,000.00Seller agent claims NOI is $43200 per year, with taking in to account the one vacant unitSo, if NOI is correct, the cap rate would be10.8.Using the 50% rule the cap rate would be 6.95.Assuming the complex was full, the cap rate, 8.08.Not sure who pays the utilities, I am still waiting for the seller's agent to send me more info.Cash flow:Gross rent $55620.00 with current vacancy.Expenses 50% rule $27810.00Per unit $257.50 per monthNOI $27810.00Seller is willing to finance 80% at 7.5% over 30 years with a balloon payment in 5.P&I $26849.88Leaves $960.12Or $8.89 per unit per monthNow, I am just getting started, so I have exactly no cash to put in to a deal, unfortunately.Assuming similar terms for a loan for a 20% down payment, but with a 9% interest, that would be a payment of$643.70Per unit $71.52Net cash per unit of $-62.63At the asking price of $400K, I think this property is over priced.