All Forum Posts by: Craig Curelop

@Caleb Gray - we have not yet set an official policy in place for this yet. We do not want to make any promises, but we are leaning towards giving the early purchasers access to the newest forms when updated for the first round of updates. An incentive for trusting us now. 

After that, we will likely have it so anyone who has already purchased the forms can purchase the newest ones at a discount. 

@Caleb Gray - We are working on getting a sample for each landlord form to show on the web page. For now, here is a screenshot of the first page of the Chicago lease. There is also a lease for the rest of IL included in this package. 

Hope this helps! 

@Chanise P. - Rather than make tenants pay utlities, some landlords charge a flat utility fee of say $75. So if the rent is $900 and the utility is $75 then the renter will be responsible for $975 per month. 

If you wish to have the tenant pay all utilities then you would put a $0 here and say in the lease that they are responsible for utilities. 

I believe that should answer your question, if not please let us know! 

@Jacob Morgan - Thank you for pointing this out. We will look into this right away! 

@Ron Hall - Kansas and Missouri should be within the next month or so. Arkansas within the next few months! 

@Andy Bartley - Most of our content is nation wide. The only tools that we offer that are state specific are landlord forms. However, I am sure there are loads of people on the site from Oregon that can help you! I would suggest posting in the forums introducing yourself, saying you are new to the site, and looking to meet like minded people from Oregon. I'm sure you'll get quite a few responses :). 

Also - feel free to send messages to people in your area too! 

Nevada and Oregon landlord forms are now available! Check them out here: http://get.biggerpockets.com/forms/nv/ and here http://get.biggerpockets.com/forms/or/

For other available states. Click here! http://get.biggerpockets.com/forms/index/

@Immanuel Sibero - I do not 100% agree with that. I just think generally, a higher cap rate means higher risk. There are obviously exceptions. 

We are talking about two different things. You are talking about the market's cap rate and I am talking about the specific property's cap rate. A specific property's cap rate is a good ballpark estimate as to how profitable the property is relative to price (in a buy & hold scenario). Similar to a Price to Earnings ratio in stocks. 

A cap rate is simply the NOI divided by the purchase price. In your example. You bought a property for $1.0M and NOI is $70k, your cap rate is 7%. If you increase the NOI to $80k, your cap rate is now 8% which means you have increased the profitability by making good business decisions. It will not impact the entire market.

If the market cap rate is still 7% then yes, you will likely still be able to sell for the $1.1M number you mentioned above. 

@Immanuel Sibero - Cap Rates are often referred to when looking at markets. However, it can also be used when determining the value of a particular property to get an idea as to how profitable the property will be. 

Mathematically speaking, if Cap Rate = NOI/Purchase Price then by increasing the NOI, you are also increasing the Cap Rate. That's what we mean here.

@Joshua Levine -  What everyone said above is exactly true. The higher the cap rate, the higher the risk typically. One strategy that I think is cool is purchasing a lower cap rate property and using your business acumen to increase the cap rate by either increasing income or decreasing expenses. 

Once you stabilize the property, you can either keep it for yourself OR rent it out,