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11 March 2020 | 0 replies
Averaging 1.5 turn overs per week with a $50 cleaning fee adds $300 per month brings total income to 3,600 per month revenue.
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19 April 2020 | 22 replies
I hope to do a make-ready at turnover and put another tenant in place for average market rent rates.
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13 March 2020 | 10 replies
Lets say on average I buy row homes at 15K, put 25K into each and install my tenants who have vouchers anywhere from $1,200 - $1,325.
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1 July 2020 | 24 replies
At that price point, most people with the average salary can afford it, and even if a family has to downsize, there’s still plenty of nice places for rent in OKC for around $1k/month.
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13 March 2020 | 2 replies
You either have to go out a litte further, 2-3 miles to try and find comps, or try another valuation method like price per square foot average in the area to get a ballpark.
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21 May 2020 | 5 replies
The median sales price in the Philadelphia Metro Area gained for the nineteenth straight month, with attached home pricing (up by an average of +7.2%) outpacing detached homes (up +5.3%) over that time.Philadelphia County celebrated its 51st consecutive month of year-over-year median close price gains, dating back to December 2015.The number of closings in the Philadelphia Metro (4,445) hit a new February high.Activity in the Philadelphia Metro continues to flourish, as new pending home sales saw a best ever for the month of February.
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13 March 2020 | 5 replies
On average, refinance closing costs range from 3 percent to 6 percent of your loan amount (again, depending on your location and your lender)
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15 July 2020 | 20 replies
Part of this cost is because they had to ‘level out the jamb’A charge to install a ‘custom toe kick’ along with painting it – basically my floors are crooked and there was a larger gap in one area that needed a larger toe kick.I responded back, and he takes a while to respond – on average its 3-4 weeks before I get a response from him.
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25 March 2020 | 14 replies
Really averaging a little over an hour per property could certainly be reasonable depending on the circumstances.Hourly billing can be tricky - I would inquire respectfully of what created the increase over the prior year.
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13 March 2020 | 2 replies
I would use 5-10%)Tenant Covered Utilities (get from owners, or use average for the area)Insurance (200-300 per unit)Other Misc (Pest Control, Lawn/Landscaping, Legal, Acct - I would use maybe 300-500 per unit, maybe more depending on property needs)Total ExpensesNOI (Total Income - Total Expenses)Cash Flow (NOI-yearly mortgage pmts)For the loan, since it is 4 units and under you should be able to get a 30 year fixed mortgage, probably 75% LTV or 25% down, figure in another 5-7% of purchase price for closing, and depending on your credit my guess would be an interest rate of 4-5%.If you dont have the expense #'s from the owner you can do a quick analysis by using just 50% of the income as expenses to get you a quick number.