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All Forum Posts by: Anna Catron

Anna Catron has started 29 posts and replied 192 times.

Post: Build To Rent Calculator Tool??

Anna Catron
Posted
  • Fort Worth, TX
  • Posts 198
  • Votes 85

Hola!  We're in FW, TX, and building duplexes to hold and rent. Is there a calculator for that?  We'll build (150k) with cash and then finance (100k) out into a 15yr note. Our numbers are pretty solid as we already own a prototype in the same area. Running the numbers on BPs "RENTAL PROPERTY" calculator somehow feels incomplete. Any ideas? 

Thanks!

Post: Can I use 1031 exchange on a new build house

Anna Catron
Posted
  • Fort Worth, TX
  • Posts 198
  • Votes 85
Quote from @Jeff Nash:

@Kyle Crouch I’d be happy to discuss with you as there are a number of different funds and they are of different types and geographically dispersed.

 Good afternoon!  Were you able to help @Kyle Crouch? I'd love help as well!

Post: Can I use 1031 exchange on a new build house

Anna Catron
Posted
  • Fort Worth, TX
  • Posts 198
  • Votes 85

Well, that stinks.  We wanted to do the same in Texas. I understand you can't exchange with yourself, but if the spirit of the law is to get us to build, why couldn't you put the profit into the actual construction even if you already own the land?  

Would it be worth contacting a real estate tax attorney??

Post: Subdivide residential lot

Anna Catron
Posted
  • Fort Worth, TX
  • Posts 198
  • Votes 85

Did you end up subdividing?  I'm starting the process in FW and am looking for guidance as well. 

Post: First Rental Property

Anna Catron
Posted
  • Fort Worth, TX
  • Posts 198
  • Votes 85

DeMarcus, if you wanted to look at our latest duplex, my husband has fabulous taste and keeps up with the trends. 865 Anahuac Ave, ft worth, tx 76114. 

Post: Seeking East Texas/Distance Peer Accountability / Growth Group

Anna Catron
Posted
  • Fort Worth, TX
  • Posts 198
  • Votes 85

Hola!!

Right after we met, I lost my access to anything google related, including my email and phone contacts. I'm just now getting back to this and seeing your request. I instantly also thought of Mike, he's always been helpful!  Did y'all get together?  What night this week would be good for y'all to come over for dinner?

Let me know!  We too, need some inspired real estate folks in our life. 

Post: How much to pay for a RV park or a mobile home park?

Anna Catron
Posted
  • Fort Worth, TX
  • Posts 198
  • Votes 85
Quote from @Chris Seveney:
Quote from @Frank Rolfe:

The standard rule is that the operating expense of a mobile home park is 30% if the tenants pay their own water and sewer and 40% if the park does. But if the park is less than 20 lots, you are safer at increasing that expense ratio to 40% and 50% respectively. So all you do is take the total number of occupied lots times the lot rent time either 50%, 60% or 70% to get the net income. You divide this number by the asking price and that gives you the cap rate. Most mobile home park buyers want to pay a cap rate that is around 3 points higher than the interest rate on the loan. That can get you a 20% cash-on-cash return.

RV parks are treated differently. The bank will want to see the last three year's P&Ls and tax returns from the seller, and then will average them and count that as the net income. RV parks are typically priced at two points higher cap rate than mobile home parks because they have more risk since customers can freely move out (mobile homes cost around $5,000 to move by comparison).

There are about 1001 additional items you need to know, but that will get you started.


 Frank

This is an awesome post and the first time I have seen it put this way - which is great for a back of napkin analysis on a MHP. Out of curiosity, if th MHP owns the homes vs. tenants owning the homes, how much of a difference does that make?


 I was going to say the same thing. that's a great formula!  

Post: Gauging interest for CRE investing group in/by Nacogdoches, TX

Anna Catron
Posted
  • Fort Worth, TX
  • Posts 198
  • Votes 85

You know I'd love to listen in!  

Post: Modular Multifamily Dallas-Fort Worth

Anna Catron
Posted
  • Fort Worth, TX
  • Posts 198
  • Votes 85

Hello!!

What did you end up doing?  We're looking at doing the same and are receiving the same cricket silence your post did! I'd love to hear what you learned!

Post: Felon on a new path.

Anna Catron
Posted
  • Fort Worth, TX
  • Posts 198
  • Votes 85

This is so fantastic!  Go you!! Stories like yours make my week! I hope you keep filling us in on your journey! 

So, can you give me a pro tip?  I'm interested in potentially renting to felons.  Our fancy (very little) duplex is in an up and coming neighborhood and getting a tenant is proving difficult.  If they had all other qualifications, would you rent to a felon? Is there a magic trick to knowing who's turned their life around for good??

Thanks so much!  And keep up the awesomeness!!