24 March 2015 | 4 replies
i did comparables myself with mls
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28 March 2015 | 26 replies
Also note that you can't use list prices, you need to look at actual sold prices - usually within the last six months, within as narrow a radius as possible to the property you're trying to value, on very similar properties - in other words, Comparable Sales, or "Comps".A realtor should be able to run this search for you in about five minutes when they're logged into the MLS, and they can exclude REOs and Short Sales (or include them) - depending on how you want the comps to be run.I recommend getting your hands on some old appraisals from a professional appraiser (and/or broker price opinions), so you can see the process they use to determine market value of a particular property.I also recommend making friends with a realtor who will "run comps" for you occasionally.
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31 March 2015 | 3 replies
I really think going over stock market investments, or comparing the two is touchy.
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31 March 2015 | 6 replies
I plan on attending my first local BP meet-up this week to network with actual humans, and would love it if you reached out to say hello, and/or to compare investing notes.
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15 June 2016 | 5 replies
These areas are all connected downtown via rail and have close proximity to a number of schools, but have a slightly more mature population compared to say Manayunk.
28 March 2015 | 1 reply
Compare their track records, compare their contracts.
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/296463/small_1695428122-avatar-paulog.jpg?twic=v1/output=image&v=2)
7 March 2017 | 11 replies
The advantage we have is price, things are incredibly cheap here compared with the rest of the country.
28 March 2015 | 9 replies
In this document they will pull comparable sales and those will be the base for the number you are getting.
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28 March 2015 | 1 reply
Don't be afraid to bring in a basement foundation repair company and get a quote to get the issues identified and fixed. 20% of 110k = 22k Down110k - 22k = 88k Financed88k @ 4% for 30 years === Monthly Payment of $420 (principle and interest)Other Numbers you'll need:Property Taxes (get on the county website)Insurance (just call an agent or ask owner)Repairs ( Really depends on condition of property, 10-15%)Utilities (get as many months of bills as possible)Property Mgt (even if you plan on doing this yourself)vacancy (depends on market and property, 10%)LawnCap Ex (depends on property but sounds high on this building) 15%These are VERY VERY rough numbers but lets look anyway...Gross Rent- 22,500 (assuming all 3 are rented at 625 and no washing machine income)ExpensesP&I- 5,040Taxes- 2,200 ( I figured 2% of home value)Ins- 800 Repairs 2250 Water 1800 (150/mth) Look into heat billVacancy 1125Prop Mgt 2250Lawn 300Cap Ex 3375Total 19,140 22500-19140= 3,360 Cash Flow YearlyInvestment of 22,000 / 3,360 = 15.2% ReturnPlus tax advantages, paying a little down on mortgage, possibly appreciation, learn a lot.Location, Basement, Local Market, Comparable properties, and firming up numbers ALL need to be looked into.Let me know what you think!
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30 March 2015 | 9 replies
@Lekisha Cole zillow does have recently sold comps that you can compare the last 6 months of sales in the area.