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4 September 2018 | 1 reply
Strangers on the internet, including BP, might be helpful, but your best bet is going to be folks you can meet face to face and show the deal.
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3 September 2018 | 5 replies
I make good money but this is company /firm size deal.90 units on 53 properties in foreclosure due to a sudden rise in property value that made the property management company not be able to cover the tax liability. 50k a month revenue worth 8.9 million supposedly, but listed for 6.4 million.
1 October 2018 | 4 replies
Since you're in San Jose, I'm willing to bet that your original cost is the lower of the two.Use your tax assessor bill to determine the percentage that is considered land (non-depreciating) and the percentage that is considered depreciating rental property.
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18 September 2018 | 16 replies
With the little research I’ve done, I’m betting I can get $500/month in rent for a simple unit, like I’m considering.
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10 September 2018 | 14 replies
Given the age of the house, your rafters are probably 2x4s (they'd be the old school actual full size 2x4's, but still too skinny), so you would likely need to add some furring thickness to get up to code R-values.
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12 September 2018 | 78 replies
-------Forget Zestimates:Well, let's go to rooms, square footage, lot sizes for these same five single-family homes:1. 3 bed/1.5 bath, 2 car detached garage, 1690ft2, lot - 5940 ft2.2. 5 bed/1.5 bath, no garage, 1951 ft2, lot - 2970 ft2.3.
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3 September 2018 | 14 replies
It's going to be very tough to finance this with $0 down through a conventional or commercial lender.Your best bet is to find private money to put up the $470k for acquisition + rehab and then refinance once the property is fully stabilized and pay off your private money lender.If you get rents to $8k you'll be around $48k NOI so at a 7% CAP the property would be worth $685k.At a 70% LTV refinance you'll pull $480k out to pay off your lender/closing costs and have $0 into the deal.This is obviously assuming the seller is carrying anything above the $400k as you had alluded to.Also I don't know the going CAP in your market so this is all just a hypothetical BRRRR example.
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4 September 2018 | 9 replies
I’d say your best bet is to wholesale this one to build your reserves.
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6 September 2018 | 4 replies
On the other hand, some small firms may be less responsive if they have a heavy workload.Really, you cannot answer this question based on the size of the firm, or even based on the practice area.
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20 October 2018 | 44 replies
Same size as yours and couldn't rent for $695 a month less?