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29 December 2014 | 6 replies
Only the owner of a property can obtain a permit - which legally prevents tenants from placing a fire-pit on the property without your consent.
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30 December 2014 | 11 replies
They do this to try and prevent lender hopping to close on the property.
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30 December 2014 | 5 replies
Three story apartment complex, Built: 1970Number of Units: 29Gross SF: 23,184 SFAverage SF: 653 SFNet Leasable SF: 18,989 SFRoof: Slight pitch asphalt shingleHVAC: Forced hot air, gas furnace/central ACNeighborhood Class B Properties Class B-Rental Unit Income $212,911Vacancy $17,609Effective Gross Income $195,302Laundry $2,199Garage $960Other Income $4,192RUBS Bill Back $2,379 Total Other Income $9,730Gross Operating Income $205,031OPERATING EXPENSESAdvertising/Concessions $6,115Cable $8,344Management $10,252 (should be $21,291 for 10%)Office Supplies $239Employee Benefits $0 Legal/Credit Reports $1,078Landscaping/Snow Removal $3,730Cleaning/Maintenance $1,956Repairs/Supplies/Maintenance $19,073 (should be $21,291 for 10%)RUBS Utilities (Water,Trash, Pest) $18,451House Gas/Electric $1,944Real Estate Taxes $21,276 (should be $36,000)Insurance $4,400 (should be $8,400)TOTAL EXPENSES $92,192 (should be $125,109)NOI $205,031 - $125,109 = $79,922$79,922/0.08 (cap rate) = $999025I did change some number for management, insurance, repair and maintenance.
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22 January 2015 | 19 replies
. , it is better to prevent than the chance of a lawsuit.
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2 July 2019 | 189 replies
It is worse if there is a structure that can not be fixed since it either needs to be demolished or prevented from being a worse liability.I think the exceptions to the rule in these properties is a case where someone is putting in effort to generate returns aka "a job".
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24 January 2015 | 11 replies
The remedy we see a lot is they excavate around the outside and pull the wall back straight and tie it back into solid ground to prevent it from happening again.
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8 March 2015 | 8 replies
I want to be on the board to prevent or block the knuckleheads that try to ruin it for everyone else.
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26 January 2015 | 6 replies
In most cases, there will be a deed restriction preventing the buyer from selling or using the property as an investment.
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25 January 2015 | 7 replies
It caused our fearless leaders to enact laws designed to prevent all of that from happening again, most of which won't and a lot of which hurts more than it helps (like the FHA 90 day anti-flip rule--seriously?!).
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27 January 2015 | 8 replies
If you're planning to do any flipping/rehabbing, those things are what will break you... preventing them (or budgeting accordingly) is big.