Elizabeth Wilson
Got lots of detailed pre-foreclosure Info - What to do with it!?!
23 September 2017 | 18 replies
Then, give them a free week of access to your list.If PropertyRadar comes to your neck of the woods I think your service might be in trouble though!
Sam Miller
Starting from scratch with a Self Directed IRA or Solo 401(k)-
8 September 2017 | 8 replies
Have a business plan(401k, SIMPLE, SEP,etc), a personal IRA(Roth and/or traditional) spousal IRA if applicable.
Michael Ndjondo makadi
Can trip expenses to go buy a first house be tax deductible?
9 September 2017 | 20 replies
I think the issues that you are going to run into is that technically you incurred these costs before you started your rental activities and before you placed the property into service.
Cameron Whitehead
Property management in College Station & Waco?
30 September 2017 | 3 replies
We offer full-service property management.
Jay Sechowicz
Having a tenant get sick
8 September 2017 | 18 replies
If they get sick enough where they can't pay, be patient, but also see if they have family or any special services can help out
Ryan Swan
Multi Family Appraisal
9 September 2017 | 8 replies
The appraiser might also deem the cost approach applicable, usually if the building is 5 years old or less.
Johnnie Fair
Escrow loan on hud foreclosure
7 September 2017 | 2 replies
Anyone have any good advice on getting a better deal on the service in these situations.
Carolina E.
What is your criteria for screening RETIRED applicants
8 September 2017 | 7 replies
Regarding retired applicants, do you still have to keep with the same qualifications?
Account Closed
Beginning your investing in a lower income city and moving?
3 November 2017 | 32 replies
For Pueblo to really experience price growth, at some point it will need to have jobs that are exporting goods or services outside the area.
Winston Parks
Developing 8 unit apt bldg in Middle TN - Here are my numbers...
13 September 2017 | 11 replies
I know that <5,000 sqft you do not)Legal: $3,500Other: $16,000 (Budget for unforeseen issues)Tap & Capacity Fees: $27,515 Building Permit Cost: $2,391.17 (estimated $706K total costs)Site Plan Review: $224.64 ($100 + $.015 p/ sqft)Wastewater Capacity Fee: $750 per unit x 8 = $6,000Water Capacity Fee: $750 per unit x 8 = $6,000Meters: $300 per x 8 = $2,400Water Tap Fees & Install: $300 per unit + 900 installation = $2,400 +900 = $3,300Wastewater Tap Fees & Install: $300 per unit + 800 installation = $3,200Facilities Tax: $4,000 - ($500 * 8 units, I am assuming this will change as I haven't asked solid numbers )Total Development Costs: $783,785 (8 units costing $94, 848 each, which I think is high)Proforma CF $ - Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Income Rental Income (Increase 2.5%/yr) 2.50% $ 79,200.00 $ 81,180.00 $ 83,209.50 $ 85,289.74 $ 87,421.98 $ 89,607.53 $ 91,847.72 $ 94,143.91 Vacancy (10% in Yr1) 5% $ 7,920.00 $ 4,059.00 $ 4,160.48 $ 4,264.49 $ 4,371.10 $ 4,480.38 $ 4,592.39 $ 4,707.20 Gross Income $ - $ 71,280.00 $ 77,121.00 $ 79,049.03 $ 81,025.25 $ 83,050.88 $ 85,127.15 $ 87,255.33 $ 89,436.72 Expenses Real Estate Taxes $ - $ 9,000.00 $ 9,090.00 $ 9,180.90 $ 9,272.71 $ 9,365.44 $ 9,459.09 $ 9,553.68 $ 9,649.22 Insurance 2.50% $ 3,000.00 $ 3,075 $ 3,152 $ 3,231 $ 3,311 $ 3,394 $ 3,479 $ 3,566 Trash Collection ($250/unit) 1% $ 2,000.00 $ 2,020 $ 2,071 $ 2,122 $ 2,175 $ 2,230 $ 2,285 $ 2,343 Common Utilities 2.11% $ 2,400.00 $ 2,451 $ 2,512 $ 2,575 $ 2,639 $ 2,705 $ 2,773 $ 2,842 Management Fee (10%) 10% $ 7,920.00 $ 8,712 $ 8,930 $ 9,153 $ 9,382 $ 9,616 $ 9,857 $ 10,103 Repairs/Maintenance 3.00% $ 2,138.40 $ 2,313.63 $ 2,371.47 $ 2,430.76 $ 2,491.53 $ 2,553.81 $ 2,617.66 $ 2,683.10 Turnover/Redecorating 1% $ 2,000.00 $ 2,020 $ 2,071 $ 2,122 $ 2,175 $ 2,230 $ 2,285 $ 2,343 Snow Removal/Parking lot cleaning 2% $ 1,500.00 $ 1,530 $ 1,568 $ 1,607 $ 1,648 $ 1,689 $ 1,731 $ 1,774 Landscaping 2% $ 2,000.00 $ 2,040 $ 2,091 $ 2,143 $ 2,197 $ 2,252 $ 2,308 $ 2,366 Admin Fees 1% $ 1,200.00 $ 1,212 $ 1,242 $ 1,273 $ 1,305 $ 1,338 $ 1,371 $ 1,406 Total Expenses $ - $ 33,158 $ 34,463 $ 35,188 $ 35,930 $ 36,690 $ 37,466 $ 38,261 $ 39,074 Net Operating Income $ - $ 38,122 $ 42,658 $ 43,861 $ 45,095 $ 46,361 $ 47,661 $ 48,994 $ 50,362 Property Value @ 8 CAP $ - $ 476,520 $ 533,223 $ 548,258 $ 563,686 $ 579,517 $ 595,761 $ 612,428 $ 629,530 Obviously, Once I account for my debt service (DS), say $758,000 @ 5.25% for 240 months ($5,108 p/ month), I am under water.Year 1 NI [$38,122] - DS [$61,296] = -$23,174 = Meaning I cannot do this project.......