Erin Dorsey Robinson
Can we stop calling places war zones?
Something has been bothering me. This phrase, "war zones". Am I the only one? Real people actually live in these places that are so casually and and narrowly characterized by this phrase. I'm not discounting that some...
Justin Jarboe
LEASE ADDENDUMS? What extras do you add to your lease
What are your favorite add ons to add to your lease? Do you have an addendum to your standard residential lease? Examples: Smoking is prohibited in the unit. LANDLORD permits the use of parking space #XXXX t...
Tony Nguyen
How To Find Motivated Apartment Sellers
Hey guys,
I'm trying to see how else i can find apartment owners who are motivated and WANT to sell. Something I did was I printed 100 postcards with a generic message of 'saw your apartment, do you want to sell'. I'...
Hal Cranmer
New Property, Bad Tenants
I just closed on a short-saled triplex, that is full of tenants. Sounds good at first. However, at the closing, the previous owner said that there is one tenant that only paid half the rent for January and has not p...
Mike N.
Direct Mail Re-mailing Sellers
I am quickly coming to the realization that I will eventually be running out of sellers to direct mail in my area. Does anyone have experience with re-mailing sellers, and what is the success rate compared to the firs...
Dax Gurr
Ideas on how to remove "owner occupant" from auction.com property
I just bought a property from auction.com. I am set to close in a month. I have not seen the inside but even if its a meth lab I got a great deal. However, it is currently occupied. Does anyone have any ideas on ho...
Chris Brillante
Appraisal Waiving Stress
I am currently looking for a multi-family house in the Somerville area and am running into an appraisal issue when putting in offers. I was just recently beat out on an offer as another buyer completely waived their a...
Tyler Hallman
Cap Rate.. based on previous owners purchase
I am new to running commercial deals and when looking at cap rates and NOI the numbers don't quite make sense.
Example:
Asking price - $1.175m
Cap - 6.36%
NOI - $74,000
Its a 5 unit in Denver, Colorado. I can s...
Mary Jay
What is your tolerance for bad or below average areas?
Do you guys only buy in good areas?Does anybody buy in bad areas or below average areas?For instance, property is close to "druggies " area....An appraiser came to a unit and there is a passed out tenant on the couch....
John Curseaden
70% Rule
When, if ever, do you depart from the 70% rule in making your max offer on a property?