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Results (10,000+)
Account Closed Second 4-plex and a foreclosure!
28 November 2014 | 10 replies
We snagged the foreclosure for 90 (thinking upgrades/rehab will total around 10).On a side note, has anyone had any experience with the Flat Fee MLS by FSBO?
Will Johnston Sellers Playing Chicken. Call Their Bluff?
24 October 2014 | 2 replies
I'm not willing to just flat out offer the full amount of what I would have escalated to.C) Tell them they have my best and highest offer, and that I need a response by 5 PM today or I'm pulling the offer.I feel like option C could pressure them to make a decision immediately rather than wait for other offers (potentially higher than mine) to come in.
Brandon Lee Electrical Costs...the 3rd rail of home improvement.
27 November 2014 | 13 replies
I come up with a flat amount of money that i pay either one or two people per day.
Jeremy Peters Property Cost of Ownership Breakdown
24 October 2014 | 7 replies
I just wanted to make sure you didn't assume your costs will be flat if a larger claim is filed.  
Chris Johnson Please, please help me decide a fair profit split on this particular flipping business!
27 November 2014 | 5 replies
We both appraise property the rest of the day.When a project is complete and its time to sell he will oversee our staff running internet and web ads, we put it in the MLS after a couple weeks with a flat rate listing, and he will put out the signs, etc. and show the property to any non-represented buyers.
Sam Leon Tenant Estoppel Letters getting more complicated?
12 November 2014 | 44 replies
So I went from trying to convince the tenants to sign to putting my foot down with the bank as I truly believe by making them sign those I would have allowed the bank to modify their lease currently in place.I basically told them flat out, I can get them signed, most likely with those clauses crossed out, which makes the estoppel equivalent to the ones I already submitted. 
Rodney Smith Due Dilligence - Forecasting Expenses
2 November 2014 | 4 replies
For Multifamily, here is how I break down my underwriting pro-forma and the expense cost rules of thumb I use:Annual Income:+Gross Potential Rents (Market Rate x Units x 12 months)- Concessions (depends on the market, but I try to limit to 3% GPR)- Economic Vacancy (physical vacancy + bad debt + loss to lease)= Total Rental Income+ Utility Income (based on past RUBs history or the per door flat fees)+ Other Income Items (Laundry, revenue share contracts, late fees, app fees, etc.)= Total IncomeAnnual Expenses:+ RE Taxes (usually use 3% increase over last tax bill, but make sure your area won't reassess immediately upon the sale at the new price, which could drastically increase the taxes)+ Insurance (my rate is about $200/door....yours will be different, talk to your agent)+ Management Fee (3-5% depending on size and company used)+ Administrative costs ($150/door)+ Payroll ($900/door, but the smaller the complex, the higher this cost usually goes)+ Marketing ($125/door, again it depends on the property size and market)+ Utilities (usually do a 3-4% increase over the past 12 month total)+ Repairs/Turns/Contract Services/any maintenance (depends on the age, I buy late 60's to early 70's vintage stuff and usually spend $750-800/unit....this goes down as the property is newer or renovated)+ Reserves (this will depend on your financing, but I place it above the NOI line here because if the bank requires it, it is an upfront expense monthly....usually $250-350/door)= Total ExpensesNOI = Total Income - Total ExpensesThis generally works well for properties 20+, but might not work so well for smaller complexes.
Gary Dezoysa How is the realtor fee, and other closing costs, adjusted on very cheap homes?
31 October 2014 | 8 replies
I've searched alot of homes on MLS in the 30-50k, and the compensation is outlined as either a percentage (usually 2.5-3% each) or a flat amount.As the BUYER, you won't typically pay your agents commission anyway.  
Albert Bui Have you ever moved markets to speed up your Investing?
4 November 2014 | 22 replies
People that live in the flat lands have no clue how off the charts great it is on the east slope of the Cascades  they just don't.
Gary Dezoysa Does the 50% rule hold true for lower end properties?
1 November 2014 | 5 replies
I believe property managers usually take 10% of the gross and any expenses  or vacancy fillings are extra; how did you negotiate them receiving a flat rate for all repairs, maintenance and insurance?