Sean Fisher
Submeter Water New Jersey
23 February 2018 | 5 replies
FYI I have not work with this guys ever, not sure how good they are, or even if they offer this service in the area.
Mike Stephens
Low Cost Employing Broker in Colorado to Hang License for 2 years
13 September 2017 | 1 reply
I have no interest at this time in actually providing agent services to anyone, but rather I'm just interested in unrestricted access to the MLS, and the ability to schedule my own showings for properties that I am interested in.
Daniel Lin
HUD ANNOUNCES DISASTER ASSISTANCE #IRMA #Harvey
16 September 2017 | 1 reply
Assisting the Commonwealth of Puerto Rico and local governments in re-allocating existing federal resources toward disaster relief – HUD's Community Development Block Grant (CDBG) and HOME programs give the State and communities the flexibility to redirect millions of dollars in annual formula funding to address critical needs, including housing and services for disaster victims.
Arissa Dahl
Reliable property manager and contractor in Everett?
12 September 2017 | 2 replies
Located in EverettTerra Property Services - Tom is a one man show but offers a more hands on almost asset management like service.
Jason Chen
First Rental Property in Sacramento, CA
16 September 2017 | 20 replies
The idea of charging water/garbage in lieu of raising rent is something I have not thought of so thanks for bringing that up.
Kevin T.
Mobile home park deal analysis
12 September 2017 | 4 replies
Here are the key data points:Park info Located in Alabama61 lots25 owner occupied homes18 park owned homes (14 currently rented; 4 currently being repaired and should be rented soon)18 vacant lotsAvg lot rent - $160 (unknown what the market rate is but it doesn't sound like there has been a rent increase in at least a year, maybe more)Avg POH rent - $400Expense ratio - seller claims 26% but I'm estimating 35% for the lots and 50% for the POH'sCity water - individually meteredSeptic - good condition (allegedly); a couple were pumped last year, none this year (no lagoon thank heavens)Seller claims gross income $130k, expenses $30k, and NOI $100kI calculated gross income of ~$135k, expenses of $60k (55% on POH and 35% on lot rentals), and NOI of $75kOther infoMom & pop seller, but park is listed with a brokerPark has been on the market for > 3 years (recent price reduction)Greater metro area stats look goodPopulation = 115kMedian home price = $105kUnemployment < 8%Household income > $40kHousing vacancy ~ 15%Closest Walmart is 7 miles awayFreeway is 1.5 miles awayNumbersMy valuation is coming out about $80k-$100k under the seller's asking priceWith conventional financing I'd be hoping for a purchase price of $500k, $100k down @ 6% over 20 years (not sure if this is plausible or not)Assuming that financing, I'm expecting net cash flow of $40k (after debt service)Upside potential is in raising rent and filling the 18 vacant lotsFollowing the same assumptions above, raising rent $50 (if the market supports it) would change NOI to ~$90k and net cash flow of just over $50kFilling the vacant lots could potentially increase gross rent up to somewhere between $150k-$200k, depending on what the appropriate occupancy rate is for the areaWithout verifying any of the above information (haven't offered anything yet so there's a lot of DD left to do), the deal seems to make sense.
Ridvan Hoxha
Have $100k+ to Invest. REI or Buy a Business Now and REI later?
14 September 2017 | 11 replies
Plenty of well-positioned restaurants with great food and great service have failed just because they didn't get enough traction before the promoters ran out of money.If you buy multifamily real estate, however, you're buying an existing income stream.
Jordan Puffer
Excited About Our First BRRRR Deal
12 September 2017 | 3 replies
The numbers look good:Location: Broadway HouseNumber of Units: 1Rent: $1,350.00 Square Feet: 1,666 Upfront Costs:Cost per Unit $95,000.00 Price: $80,000.00 Cost per Square Foot: $57.02 Cap Improvements & Repairs: $15,000.00Cash on Cash Return:19.84%Total: $95,000.00 Debt Coverage: [minimum 1.6] 1.78 20%Down: $19,000.00Capitalization Rate (ROI)9.05%Current Assessed Value: $29,666.00 Loan Amount: $76,000.00 Net Cash Flow per month: $314.08 Interest: 4.88%Net Cash Flow per month per unit: $314.08 Term (yrs): 30Total Rent/Month: $1,350 GROSS SCHEDULED RENTAL INCOME: $16,200.00 Less: Total Annual Debt Service: $(4,826.40)Less: Operating Expenses: $(6,470.63)Less: Vacancy and Credit Losses (7%): $(1,134.00)NET CASH FLOW: 3,769 NET OPERATING INCOME - (NOI): 8,595 INTEREST: 3,680 DEPRECIATION: 3,455 NET INCOME: 1,461 Property Insurance: $1,000.00 Property Management (10%): $1,620.00 Placement Fee(30%): $405.00 Real Estate Taxes (5.06179%) $1,501.63 Repairs and Maintenance (12%) $1,944.00 Services: Snow Removal: 720 Utilities: Electricity: N/A Gas and Oil: N/A Sewer and Water: $30.00/mo Other
Luke Moczydlowski
Most Reliable Hot Water Boiler
12 September 2017 | 4 replies
Try and get one that has experienced service techs aswell.
Paul G.
Condo in Mesa, AZ Deal Analysis
10 December 2017 | 18 replies
If I were in your shoes, I would go the route of raising her rent to $850 and taking a chance on her.