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26 April 2019 | 3 replies
I have one potential tenant who wants 3 out of the 4 offices and a few other possibilities lined up who might be interested in the 4th.Here are some factors to the decision:My ultimate goal is to buy and hold properties for a long period of time so that once they are paid off, this will be my retirement income (I'm currently 35).While I have a positive cashflow on my first property, I don't have a lot saved up at this point that I could put towards a downpayment for the second property.I talked to a banker who, based on my current finances, would finance 100% of the property, 5 or 10 year loan, 4.5%, amortized either 20 or 25 years.So...from my perspective that looks like $0 down other than closing costs, and tenants lined up who are interested in the office.One problem is that given the asking price, and what the monthly mortgage + operating costs would be, the rents for the 4 offices would be 20-25% higher than the market rate.The potential tenant who is interested in the 3 offices is willing to pay that because there are some unique characteristics that they are specifically looking for that would be hard to find somewhere else.Let's say that tenant is willing to sign a 5 year lease initially.
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27 April 2019 | 24 replies
I am curious how you structure the wording regarding tenants not co-operating with showing.
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25 April 2019 | 8 replies
I started with a duplex, bought a couple more and am starting to buy singles, but they haven't been vastly different in terms of how complex they are to operate.
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1 May 2019 | 12 replies
You can also check the operating expense ratio (OPEX/effective gross income) in comparison to the comps to see whats going on.Good Luck!
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27 April 2019 | 2 replies
sorry Derek for the late replyI'm need a 1 2 3 step in lining up my wholesale operation and a guide to follow.
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2 May 2019 | 27 replies
Investors and companies buy other companies (or properties), improve operations, and then leverage that business to buy and repeat.
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27 April 2019 | 80 replies
Regardless of whether you own one property or 1000, whether you house hack or are a out of state investor always operate your investment as a business.
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27 April 2019 | 1 reply
I work for a local FD and when we do inspections we ensure each pull station is operable,able to be reset and the alarm bell activates.
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28 April 2019 | 6 replies
Have you run the numbers to see what YOUR expenses in operating the property will be?
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29 April 2019 | 2 replies
Should my operating account be in the same bank as the security deposit?