All Forum Posts by: Uwe S.
Uwe S. has started 45 posts and replied 1063 times.
Post: 2 multi family houses over 100 years old
- Property Manager
- Dublin, OH
- Posts 1,550
- Votes 291
Agree with Barrington Gallahad take a look to towns max 2 hours from NY. There plenty of opportunitys there I guess.
-Uwe
Post: Newbee needs help on best cities to start investing in.
- Property Manager
- Dublin, OH
- Posts 1,550
- Votes 291
Columbus Ohio is a pretty good place to start investment actual its only depending on your pocket.
-Uwe
Post: Possible first MHP.. What do you guys think?
- Property Manager
- Dublin, OH
- Posts 1,550
- Votes 291
Hello Justin,
calculate only with actual numbers not with future!
I see your stated expenses and will ask you do you have an P&L of the last 3 years of this park?
Mostly I see 30-35% in expenses of an MHP so you should calculate with $46k for this park. This reduces the NOI to $85k with an price of $850k you can get an 10% CAP. looks good.
-Uwe
Post: Eviction County Marion, City Marion, Ohio
- Property Manager
- Dublin, OH
- Posts 1,550
- Votes 291
... and I forgot the eviction time in Ohio can be only 3 to 4 weeks.
-Uwe
Post: First deal...is it worth it?
- Property Manager
- Dublin, OH
- Posts 1,550
- Votes 291
Agree K. Marie Poe and Steve Babiak.
-Uwe
Post: Eviction County Marion, City Marion, Ohio
- Property Manager
- Dublin, OH
- Posts 1,550
- Votes 291
Welcome Phil,
you need an attorney for the eviction and I will tell you start the eviction process like Igor Generalov said.
A good attorney in Marion OH you will find here.
-Uwe
Post: Help with quad analysis
- Property Manager
- Dublin, OH
- Posts 1,550
- Votes 291
Originally posted by Brian H.:
Angelo: When you say it would be better if I wasn't borrowing so much, do you mean putting more money down? I'd certainly get more cash flow. But, I won't have much left in reserve. So, not sure if that's really an option.
Uwe: That's the Cap rate I came up with too...but what did you mean by the 10% for beginning investors comment? I definitely consider myself in that category so please :)
Brian,
first I want to reply to your response to Angelo:
If you don't have really much in reserve after the 3.5% down you have maybe next problem if there any bigger maintenance in next months.
How much you pay actually for your rent? More than $475, you estimated for the fourth unit in house, each month? If yes you should pay the same rent to you in your investment house.
Now to the CAP rate, I calculate as investor anytime a 10% CAP without any downpayment, so if you receive $11,9k NOI this house price should be only $119k. Beginner investors have mostly no much money, I guess you know and in this case they must borrow a big sum from the bank. Big sum from bank with interest can eat this 10% so its better to take this as minimal CAP rate. Much different is when you buy with 50% down (excample) so you can down to 7-8%.
Your propertie is now in this range of 7-8% CAP actual.
A good thing is you live in your own investment so you can drop the propertie management fee of around 10% from the monthly expenses.
So maybe a deal for you but not for an out of town investor.
-Uwe
Post: Help with quad analysis
- Property Manager
- Dublin, OH
- Posts 1,550
- Votes 291
Brian,
looks like you know about the 50% rule and so I assume you know also about the 10% CAP rate as beginning investor.
With the price of $155k and only $11,9k NOI you have an CAP rate of only 7.7% all the more with only 3.5% down.
Number don't work here in my mind so no deal for me.
Good luck.
-Uwe
Post: Atlanta Rehappers and Flippers ...
- Property Manager
- Dublin, OH
- Posts 1,550
- Votes 291
Originally posted by J Scott:
Originally posted by Uwe S.:
So this house is to be worth a try or not? On Zillow I saw many price changes for this house an up and down.
Worth a try in what respect? To live in? To hold as a rental? To flip?
My guess is that if it were a great investment deal, it would be sold by now and there wouldn't be so many price changes. Also, 5000+ sf for $250K isn't unheard of in this area, especially in the cities far from downtown like that one is (it's pretty much in the middle of nowhere).
Thats an statement, thanks J Scott
-Uwe
Post: help 20 yrs old with some money.
- Property Manager
- Dublin, OH
- Posts 1,550
- Votes 291
Scott French,
there is no offense from you. I told him what he can do and in same time I told him my doubts so I don't see an problem here.
If I had wrote "buy it now you would have no hassles and you will be rich in 2 years" yes this should be a high problem I guess.
Aaron Mazzrillo,
I´m not an naysayer I think.
-Uwe