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surveyor
Participant[quote=LarryTheRenter]Are there any web sites like piggington geared towards those looking to but rental properties??? It might be nice to get some discussions going about multi-unit properties and things like rents, cap rates, cash on cash returns , etc. Also common management issues and the like…
[/quote]
Hahaha. I tried to do it here, but there wasn’t a lot of interest at the time. Although I probably admit it was more because most people weren’t in a buying mood for SFRs and condos, much less multi-units.
I even posted my ROE calculator for people to do cash on cash and cap rate calculations on. Hahaha.
Participant[quote=LarryTheRenter]Are there any web sites like piggington geared towards those looking to but rental properties??? It might be nice to get some discussions going about multi-unit properties and things like rents, cap rates, cash on cash returns , etc. Also common management issues and the like…
[/quote]
Hahaha. I tried to do it here, but there wasn’t a lot of interest at the time. Although I probably admit it was more because most people weren’t in a buying mood for SFRs and condos, much less multi-units.
I even posted my ROE calculator for people to do cash on cash and cap rate calculations on. Hahaha.
Participant[quote=LarryTheRenter]Are there any web sites like piggington geared towards those looking to but rental properties??? It might be nice to get some discussions going about multi-unit properties and things like rents, cap rates, cash on cash returns , etc. Also common management issues and the like…
[/quote]
Hahaha. I tried to do it here, but there wasn’t a lot of interest at the time. Although I probably admit it was more because most people weren’t in a buying mood for SFRs and condos, much less multi-units.
I even posted my ROE calculator for people to do cash on cash and cap rate calculations on. Hahaha.
June 17, 2008 at 3:25 PM in reply to: What do you folks think about this sub-$100k condo in MM? #224049Participantwaiting
Just waiting for the Laker game, so thought I’d run a quick calculation:
For this property, assuming $800/mo., $100k, with $20k downpayment, 7.25% interest rate (which is the last interest rate I was given a few months ago):
Cash flow: -$262/mo.
Cash on Cash: -15.7%
ROE = 12%
Cap rate: 3.4%Anyways, doesn’t look too terrific from these numbers. If you can push this rent to $1100 per month, then it breaks even. However, on this new amount, the Cash on Cash calculation would be 2.3%, which would still be under my standards.
Unless you are sure to get that $1100/month rent, assuming properties continue to go down in price, I would pass on this property. While condos/condo conversion prices lead the market, there may still be some more downside to the prices.
June 17, 2008 at 3:25 PM in reply to: What do you folks think about this sub-$100k condo in MM? #224155Participantwaiting
Just waiting for the Laker game, so thought I’d run a quick calculation:
For this property, assuming $800/mo., $100k, with $20k downpayment, 7.25% interest rate (which is the last interest rate I was given a few months ago):
Cash flow: -$262/mo.
Cash on Cash: -15.7%
ROE = 12%
Cap rate: 3.4%Anyways, doesn’t look too terrific from these numbers. If you can push this rent to $1100 per month, then it breaks even. However, on this new amount, the Cash on Cash calculation would be 2.3%, which would still be under my standards.
Unless you are sure to get that $1100/month rent, assuming properties continue to go down in price, I would pass on this property. While condos/condo conversion prices lead the market, there may still be some more downside to the prices.
June 17, 2008 at 3:25 PM in reply to: What do you folks think about this sub-$100k condo in MM? #224170Participantwaiting
Just waiting for the Laker game, so thought I’d run a quick calculation:
For this property, assuming $800/mo., $100k, with $20k downpayment, 7.25% interest rate (which is the last interest rate I was given a few months ago):
Cash flow: -$262/mo.
Cash on Cash: -15.7%
ROE = 12%
Cap rate: 3.4%Anyways, doesn’t look too terrific from these numbers. If you can push this rent to $1100 per month, then it breaks even. However, on this new amount, the Cash on Cash calculation would be 2.3%, which would still be under my standards.
Unless you are sure to get that $1100/month rent, assuming properties continue to go down in price, I would pass on this property. While condos/condo conversion prices lead the market, there may still be some more downside to the prices.
June 17, 2008 at 3:25 PM in reply to: What do you folks think about this sub-$100k condo in MM? #224202Participantwaiting
Just waiting for the Laker game, so thought I’d run a quick calculation:
For this property, assuming $800/mo., $100k, with $20k downpayment, 7.25% interest rate (which is the last interest rate I was given a few months ago):
Cash flow: -$262/mo.
Cash on Cash: -15.7%
ROE = 12%
Cap rate: 3.4%Anyways, doesn’t look too terrific from these numbers. If you can push this rent to $1100 per month, then it breaks even. However, on this new amount, the Cash on Cash calculation would be 2.3%, which would still be under my standards.
Unless you are sure to get that $1100/month rent, assuming properties continue to go down in price, I would pass on this property. While condos/condo conversion prices lead the market, there may still be some more downside to the prices.
June 17, 2008 at 3:25 PM in reply to: What do you folks think about this sub-$100k condo in MM? #224214Participantwaiting
Just waiting for the Laker game, so thought I’d run a quick calculation:
For this property, assuming $800/mo., $100k, with $20k downpayment, 7.25% interest rate (which is the last interest rate I was given a few months ago):
Cash flow: -$262/mo.
Cash on Cash: -15.7%
ROE = 12%
Cap rate: 3.4%Anyways, doesn’t look too terrific from these numbers. If you can push this rent to $1100 per month, then it breaks even. However, on this new amount, the Cash on Cash calculation would be 2.3%, which would still be under my standards.
Unless you are sure to get that $1100/month rent, assuming properties continue to go down in price, I would pass on this property. While condos/condo conversion prices lead the market, there may still be some more downside to the prices.
Participantscam!
The East Village place sounds like a scam. There was a similar scam going for a 4S Ranch foreclosed home awhile back. Be sure to deal with local people only – they should be willing to meet with you at the place and do the full “sell” – showing you the features of the place and letting you walk around the place. Be careful of the other scam as well – somebody pretends that this rental is theirs, and asks you for the deposit and first month’s rent, but later on you find out that person does not own the property. There were a few of these scams being done around last year, they may have popped up this year again.
To prevent such scams, you can ask for proof of ownership of the property and also conduct several visits at different times in order to establish that the property manager/landlord is authorized to work for that property.
As for craigslist, I’ve been using it pretty well to advertise my vacancies.
Participantscam!
The East Village place sounds like a scam. There was a similar scam going for a 4S Ranch foreclosed home awhile back. Be sure to deal with local people only – they should be willing to meet with you at the place and do the full “sell” – showing you the features of the place and letting you walk around the place. Be careful of the other scam as well – somebody pretends that this rental is theirs, and asks you for the deposit and first month’s rent, but later on you find out that person does not own the property. There were a few of these scams being done around last year, they may have popped up this year again.
To prevent such scams, you can ask for proof of ownership of the property and also conduct several visits at different times in order to establish that the property manager/landlord is authorized to work for that property.
As for craigslist, I’ve been using it pretty well to advertise my vacancies.
Participantscam!
The East Village place sounds like a scam. There was a similar scam going for a 4S Ranch foreclosed home awhile back. Be sure to deal with local people only – they should be willing to meet with you at the place and do the full “sell” – showing you the features of the place and letting you walk around the place. Be careful of the other scam as well – somebody pretends that this rental is theirs, and asks you for the deposit and first month’s rent, but later on you find out that person does not own the property. There were a few of these scams being done around last year, they may have popped up this year again.
To prevent such scams, you can ask for proof of ownership of the property and also conduct several visits at different times in order to establish that the property manager/landlord is authorized to work for that property.
As for craigslist, I’ve been using it pretty well to advertise my vacancies.
Participantscam!
The East Village place sounds like a scam. There was a similar scam going for a 4S Ranch foreclosed home awhile back. Be sure to deal with local people only – they should be willing to meet with you at the place and do the full “sell” – showing you the features of the place and letting you walk around the place. Be careful of the other scam as well – somebody pretends that this rental is theirs, and asks you for the deposit and first month’s rent, but later on you find out that person does not own the property. There were a few of these scams being done around last year, they may have popped up this year again.
To prevent such scams, you can ask for proof of ownership of the property and also conduct several visits at different times in order to establish that the property manager/landlord is authorized to work for that property.
As for craigslist, I’ve been using it pretty well to advertise my vacancies.
Participantscam!
The East Village place sounds like a scam. There was a similar scam going for a 4S Ranch foreclosed home awhile back. Be sure to deal with local people only – they should be willing to meet with you at the place and do the full “sell” – showing you the features of the place and letting you walk around the place. Be careful of the other scam as well – somebody pretends that this rental is theirs, and asks you for the deposit and first month’s rent, but later on you find out that person does not own the property. There were a few of these scams being done around last year, they may have popped up this year again.
To prevent such scams, you can ask for proof of ownership of the property and also conduct several visits at different times in order to establish that the property manager/landlord is authorized to work for that property.
As for craigslist, I’ve been using it pretty well to advertise my vacancies.
Participantrents!
We discussed the issue awhile ago in these topics:
http://piggington.com/will_rents_create_a_price_floor_despite_the_mini_rental_bubble
http://piggington.com/where_rents_are_headed
http://piggington.com/what_do_you_folks_think_about_this_sub_100k_condo_in_mm
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