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30 July 2015 | 17 replies
While I was readings these replies about 5 more questions popped into my head, thinking about what @Jordan Williamson said about making sure you get a good deal instead of looking at the lower my expenses aspect and it rang a bell, I was definitely looking at this the wrong way, This would be my first investment property and I don't want to regret it, the more I analyze this without living in it, the worse it looks, but when I see the lower my expense aspect when living in one side it appears great.
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28 July 2015 | 4 replies
Heres the way I calculate it,(Gross Scheduled Rent) - (Vacancy rate (at least 5-6%)) = Operating Income(Operating Income) - (Repairs & Maintenance + Utilities + Taxes + Insurance + Management Fees (at least 8%) + Replacement reserve (capX)) = NOIThen I simply divide the asking price by the NOI (Asking Price / NOI) to get the cap rate.I can't find anything above 5 or 6 % at best, am I doing something wrong or does the MLS just suck that bad??
24 July 2015 | 9 replies
But maybe I'm wrong, I'll let you know what I find out.
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24 July 2015 | 3 replies
Is the area just bought out.....or I'm I just going about this all wrong?
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29 July 2015 | 6 replies
I assume that I don't need to repost, but could be wrong.
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28 July 2015 | 6 replies
Don't get me wrong, I am an investor for income, I just have no interest in quitting my job.
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24 July 2015 | 1 reply
You have the wrong attorney for the job, then.
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25 July 2015 | 3 replies
I could be completely wrong, but it worked and I will do it again.I asked if she liked getting a check every month without having to worry about repairs or problem tenants.