All Forum Posts by: Bob Romano

-edged, si

Goodman

i wish i was Jaron 

I lost out on a SFH yesterday. The other buyer paid $40k above asking and he put $25k into a savings account for the buyers new baby for her college fund! This is getting ridiculous now

@Aaron Lancaster  I schedule the sweeper, meet the the guy there and pay for it. I then send the tenant the receipt and she pays it in the next months rent. This way I know it’s done and I’m there to witness it.

I have a wood-burning fireplace in one of my SF homes. I put right in the lease that the tenant is responsible for cleaning out the ashes and having a yearly chimney sweep cleaning. I would spend the $1500 to get it up to code and then include this verbiage in your lease to protect yourself. 

Hi Jake, I had this happen to me where the appraisal came in 10k less than the payoff when I tried to refi. My broker went back to the appraisal co and submitted a dispute request. Come to find out, he missed 2 homes that sold on the same street as mine for 40k more than mine, so we got to bump mine up 45k and everything was fine after that. So to answer your question: You would have to put a dispute request in and try to find your own comps to refute his. I did not have to pay anything to dispute the original appraisal. 

Hi Preston, The Bldg has 15 units, 13 of them are rented. 3 of the big anchor tenants have been there for 12 years. They just signed another 5 year lease. New roof was put on 5 years ago, 2 phases of environmentals were done 2 years ago. It is already zoned industrial. I dont think she will take my offer, but my realtor said she will probably come down to 1.8 mill. Even at this price, the CAP is still high i think.

Hey guys, need some help on valuing a commercial bldg I'm presently renting now, with an option to buy. Here are the numbers:

The asking price $2 mill, has an NOI of $212,000 a year. This would put it a 11% CAP rate. My offer is more around 1.2- 1.5 mill which would put it a 14-17% CAP , The cap seems awfully high at these numbers, what am i missing?

@Josh Gregory  Closing cost were $3,370.  I used BayCoast Bank out of Swansea, MA