All Forum Posts by: Jennifer Lee

@Ned Carey Oh Ok I understand, I was intimidated by the sales number. I am very interested in the CCIM course.  But my attitude is like you, I think it's a valuable next step for me.

Thanks you, I will look into it more seriously ;p

@Gabriel Amedee I like that, that I agree with ;p

I agree with @Wayne Brooks 

I have a good relationship with my GC and it was a long long road... Now I can say, get it done, budget x. But I know what he will do, and he know what I want.

But you really need to go into details, you cant assume.  

-----

I referred him to my clients (newbies). They constantly fight, bc they were not on the same page. Renovate the kitchen standard grade, was what they wrote.  Unfortunately, there is a confusion of what "standard" is.

In retro spec they should have said, X cabinets, X finishing x flooring. 

@Josh Caldwell @Matthew King sorry I couldn't tag earlier

I have been thinking about the CCIM, but I am confused with the site. DO YOU HAVE TO SELL $10M to even join? and what is with all the different membership?

Thanks for this post btw, I am following 

Unless I m in the city, I won't do 2/1..

I will do 2/1 in a multi unit situation.

older 3/1 it depends on condition, if I can flip it to a 3/2.  3/1 if the location is a good rental I would consider

I have a problem with "STUPID" Low ball offers.  

and you are talking to an agent  that is ok with offering 100 offer, and get them all rejected.

but it's not efficient.

The problem with working with investors that does these 2 a day offer, low ball offer, 

THEY DON'T REALLY DO THEIR HOMEWORK.   and when we DO GET THE OFFER, they freak out and try to bail.  They spend so much time analysing deals to offer they forget to stay updated on their financing.... and don't get me started on multiple offers accepted scenario  

This is why I vent my investors.

------

I suggest we go and put in your best offer. if it's low, so be it, if you lose it by $1 you are ok, and we move on.

But maybe figuring out BEST offer is just too much work for some investor.

I am not sure if electrical is the same as water meter. I have a 6 unit that had a "by-pass".  One unit with a salon the previous owner puts on one meter bc they use a ton of water. the rest of the unit, is from one meter.  They are separated but runs from one meter.

So I had my plumber remove the by pass, and install separate meter for the 5 units.  It was a cost I was willing to do. 

Good thing too, I found out the other units were paying for 50% of the the salon water.  

I am glad to hear that there is SUBMETER, that means the electrical wiring is going to the "right" place.

I would definitely figure out the cost, but you can do it in stages.  

---

I am all for efficiency, I get the bill, I pay and I mail to tenant for reimbursement. I don't have time to go and figure out the ratio or check submeters.

Maybe you can split them as they come vacant and upgrade the unit.  That is what I did for another unit.  You don't have to do everything all at once.

I changed all the fuse panels at once to save the cost. but rewired each unit as they come vacant and upgrade the unit, and increased the rent.

that's new, could it be agent is related to seller? 

if so on the mls it would say, agent is related to seller or agent is seller.

@Zach Quick  I agree. I looked over the cap rate formula, it's 

CAP RATE: NOI/ Current mkt value.

and for Cash on Cash Return = Annual Pre tax Cash Flow/ Actual Cash Invested

Thank you!

For clarification: I took monthly cash flow of 1.100/mo and turned it into 4,650/mo