All Forum Posts by: Amy Shepherd

Could anyone in the Columbus, OH market share what you are seeing for cap rates on Class B multifamily properties? My market is in the 5-6 range, so I'm looking for an area that is still selling a bit higher than that. Thanks!

They are constantly improving based on feedback from customers too. They have a mobile app with limited functionality, but I often login to the full site through the web browser on my phone or tablet.

One other thing to consider...the new entity can have a significant expense at tax time to get the tax return prepared, definitely more expensive than a simple 1040. Make sure you get an estimate on that and plug it into your expenses. It can take a bite out of profits if there are multiple partners on low priced properties. 

We've been seeing a lot of low appraisals in our area. The pressure is usually on the seller to come down in price if it is a good appraisal. Even if you walk away, the same thing is likely to happen with the next buyer. Splitting the difference with the seller is a great strategy. If you think the appraisal is bad, podcast #7 has some good info about challenging the appraisal. Hope it works out for you.

We use AppFolio, but I think they might have a $200 per month minimum, so it depends how many units you have. It makes the accounting very simple though and saves a lot of time.