All Forum Posts by: Lawrence L.

Congrats to @Aurelie Boudon and to @Abel Curiel Best of luck to you both

SEE YOU AT THE TOP!!

@Chris Rosenberg @Jayson Greenblatt@Andrew E....I used the numbers that was given me and used Bigger Pockets and Michael Blanks  analyzers. I want to say thank you to all for your input. 

I made an offer today on a 5 family house in the Bronx. Please let me know what you think about my analysis,calculations, and offering price. 
Asking price..850,000 GR.....75,600...No vacancy added 10% for vacancy....75600-7560=68,040 Expenses...26,879.15...not showing management....Insurance......Gas 
Took 50% of adjusted gross income 
Which equaled..34,020 The cap rate with the price of 850,000 and NOI of 48,721 = 5.7%. When I used the same 5.7 cap rate on the adjusted expenses and income the NOI was 34,020 the valuation calculated was 596,140. I made an offer of 536,000. 
 This is the response I received: the residential market in the Bronx has gotten very hot. The cap rates are are out the window. 2-families are selling for $650,000 so I think we’re just playing in different sand boxes. 
Should I make another offer?

I made an offer today on a 5 family house in the Bronx. Please let me know what you think about my analysis,calculations, and offering price. Asking price..850,000 GR.....75,600...No vacancy added 10% for vacancy....75600-7560=68,040 Expenses...26,879.15...not showing management....Insurance......Gas Took 50% of adjusted gross income Which equaled..34,020 The cap rate with the price of 850,000 and NOI of 48,721 = 5.7%. When I used the same 5.7 cap rate on the adjusted expenses and income the NOI was 34,020 the valuation calculated was 596,140. I made an offer of 536,000. This is the response I received: the residential market in the Bronx has gotten very hot. The cap rates are are out the window. 2-families are selling for $650,000 so I think we’re just playing in different sand boxes. Should I make another offer?

Joseph Gozlan Please ignore the post I just posted I now understand what was meant by 25%

Joseph Gozlan Hey Joseph you stated 25% of offering price is that one of the ways you determine an offering price. Can you please elaborate on that 25%. Thank you

@Michael Healy  

CONGRATULATIONS!!!!!!   Where is the property located.

@Adam Cherko @Nick Harvey@Account Closed Mount Vernon taxes are high to me, I was looking at a 4 plex near Mount Saint Michael if you are familiar, the taxes were close to 20,000 that is insane. I really like Yonkers I have seen the changes. I hope to see all of you at the first Yonkers Investment meet up to get some great info about investing in Yonkers.

I was given a listing by a broker for a 5 unit building in a c+ b- neighborhood. Not far from the subway, you can walk to everything. The broker said they are asking 850-900,000. The taxes which I found on county web site is 9000. He asked me if I want to make an offer.... The question is how would you analyze this property to make an offer or would you ask for more info.

@Eric Gabriel The rant It's all good!!! Same thing I'm thinking...!!!! Should I or shouldn't I. I want to hear some opinions. Have an awesome day Eric...

See You At The Top!!!