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15 December 2019 | 13 replies
IE, that the bill payment company really exists, then contact them with the number I find, not the one she gives me, find out if she's a customer, see the police reports on the identity theft, etc.
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11 September 2017 | 6 replies
Counties reassess property with significantly higher values annually, and local governments assume that they are entitled to a corresponding increase in spending.
1 October 2017 | 9 replies
Additionally, with the City adopting the IBC 2015 and inspectors becoming increasingly difficult to work with, we've labor costs go up and soft cost on the design & engineering side go up as well.
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9 October 2017 | 4 replies
I am glad I was able to find that great price on the architectural shingles and my guys were able get it done quickly, I think it looks 100 times better than the 3 tab shingles and will increase the value even more.
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16 September 2017 | 20 replies
This should increase my cashflow overtime.
12 September 2017 | 4 replies
Here are the key data points:Park info Located in Alabama61 lots25 owner occupied homes18 park owned homes (14 currently rented; 4 currently being repaired and should be rented soon)18 vacant lotsAvg lot rent - $160 (unknown what the market rate is but it doesn't sound like there has been a rent increase in at least a year, maybe more)Avg POH rent - $400Expense ratio - seller claims 26% but I'm estimating 35% for the lots and 50% for the POH'sCity water - individually meteredSeptic - good condition (allegedly); a couple were pumped last year, none this year (no lagoon thank heavens)Seller claims gross income $130k, expenses $30k, and NOI $100kI calculated gross income of ~$135k, expenses of $60k (55% on POH and 35% on lot rentals), and NOI of $75kOther infoMom & pop seller, but park is listed with a brokerPark has been on the market for > 3 years (recent price reduction)Greater metro area stats look goodPopulation = 115kMedian home price = $105kUnemployment < 8%Household income > $40kHousing vacancy ~ 15%Closest Walmart is 7 miles awayFreeway is 1.5 miles awayNumbersMy valuation is coming out about $80k-$100k under the seller's asking priceWith conventional financing I'd be hoping for a purchase price of $500k, $100k down @ 6% over 20 years (not sure if this is plausible or not)Assuming that financing, I'm expecting net cash flow of $40k (after debt service)Upside potential is in raising rent and filling the 18 vacant lotsFollowing the same assumptions above, raising rent $50 (if the market supports it) would change NOI to ~$90k and net cash flow of just over $50kFilling the vacant lots could potentially increase gross rent up to somewhere between $150k-$200k, depending on what the appropriate occupancy rate is for the areaWithout verifying any of the above information (haven't offered anything yet so there's a lot of DD left to do), the deal seems to make sense.
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20 September 2017 | 10 replies
One aspect that most people do not consider, is the increased water and sewer usage bills due to the laundry.
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10 December 2017 | 18 replies
She knows that rent will be increasing, but she can't afford too much more.
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12 September 2017 | 0 replies
-will Contractor bids increase and will take longer to complete remodels due to high demand for labor?
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15 September 2017 | 5 replies
Wealth is the by product of someone who creates value for others and businesses that are long lasting, create incredible value for customers.