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15 March 2019 | 6 replies
For example, for commercial MFH I typically implement the following from his analyzer:Conservatively estimate expenses as 50%2% annual rent growth (again, being conservative)--I know this depends on the marketVacancy % = 1/[number of units in property]--ex. 1/6 unit, 1/8unit, etc.Ernest Money Deposit = ~1% of Purchase PriceCharge an acquisition fee since I'm procuring the deal = ~1%Charge capital transaction fee = ~1%Charge Asset Management fee = 1%Refinance after X years and sell after Y yearsGauge whether a deal is "good" if: Average Annual Return = 15%, IRR = 15%, Average CoC Return = 9%Can these measures be taken for 4plexes as well?
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24 March 2019 | 27 replies
You pay all that with real money out of your pocket if you can't procure tenant ASAP Even after it rented, there is no guarantee that tenant won't move out quickly because he doesn't like something - that's why banks consider that stabilization of a property takes two years.From my experience, there is always something wrong going in the first 5-6 months even with perfectly move-in ready properties.After all, if your Rent is projected at $1250/mo the price should be not higher than $125K.
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24 February 2019 | 3 replies
I’m hoping this is avoidable because my broker did not provide me any resources that helped procure any of my deals
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27 February 2019 | 4 replies
-Should I tenant screen for all adults in the house or only those responsible for paying the lease as agreed?
16 April 2019 | 8 replies
It seems procuring financing to purchase notes is difficult if not impossible.
10 March 2019 | 0 replies
The initial model we have in place at the moment is all procurement, construction, and property management fall under my responsibilities while the investor strictly provides capital and waits for a check in the mail.
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15 March 2019 | 16 replies
.------- Chapter 4735: REAL ESTATE BROKERS4735.01 [Effective Until 3/20/2019] Real estate broker definitions.As used in this chapter:(A) "Real estate broker" includes any person, partnership, association, limited liability company, limited liability partnership, or corporation, foreign or domestic, who for another, whether pursuant to a power of attorney or otherwise, and who for a fee, commission, or other valuable consideration, or with the intention, or in the expectation, or upon the promise of receiving or collecting a fee, commission, or other valuable consideration does any of the following:(1) Sells, exchanges, purchases, rents, or leases, or negotiates the sale, exchange, purchase, rental, or leasing of any real estate;(2) Offers, attempts, or agrees to negotiate the sale, exchange, purchase, rental, or leasing of any real estate;(3) Lists, or offers, attempts, or agrees to list, or auctions, or offers, attempts, or agrees to auction, any real estate;(4) Buys or offers to buy, sells or offers to sell, or otherwise deals in options on real estate;(5) Operates, manages, or rents, or offers or attempts to operate, manage, or rent, other than as custodian, caretaker, or janitor, any building or portions of buildings to the public as tenants;(6) Advertises or holds self out as engaged in the business of selling, exchanging, purchasing, renting, or leasing real estate;(7) Directs or assists in the procuring of prospects or the negotiation of any transaction, other than mortgage financing, which does or is calculated to result in the sale, exchange, leasing, or renting of any real estate;(8) Is engaged in the business of charging an advance fee or contracting for collection of a fee in connection with any contract whereby the broker undertakes primarily to promote the sale, exchange, purchase, rental, or leasing of real estate through its listing in a publication issued primarily for such purpose, or for referral of information concerning such real estate to brokers, or both, except that this division does not apply to a publisher of listings or compilations of sales of real estate by their owners;(9) Collects rental information for purposes of referring prospective tenants to rental units or locations of such units and charges the prospective tenants a fee.
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12 February 2021 | 4 replies
I tenant did not pay rent and left the property in bad shape, I got a judgment against the tenant, how do I file for garnishment?
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13 January 2019 | 6 replies
Whoever shows them the property is the procuring cause of the sale, and they are due the commission.
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22 January 2019 | 14 replies
Personally, on small MF investments of 5 units and up, a debt play may be the wise route where you simply borrow the capital to procure/rehab the units and then pay a reasonable interest rate to the lender.