All Forum Posts by: Craig Parsons
Craig Parsons has started 16 posts and replied 138 times.
Post: ISO Idaho Real Estate Investing Community
- Contractor
- Orofino ID, Hollister CA
- Posts 139
- Votes 71
Quote from @Bryce Henson:
Hi, my name is Bryce and my family and I recently moved back to our home state of Idaho from the greater Seattle, Wa area. I'm seeking out other real estate investment-minded folks in Idaho. My family and I live in central Idaho, so neither Boise nor Moscow/Lewiston are that far from us. If you are are currently residing in Idaho and/or have experience in owning investment properties in Idaho, feel free to connect! I look forward to meeting you.
Hi Bryce nice to meet you. I am up near Lewiston and have some experience in the more rural areas of Idaho would love to meet up some time.
Post: Community Internet as an amentity
- Contractor
- Orofino ID, Hollister CA
- Posts 139
- Votes 71
Quote from @Dave Rav:
@Craig Parsons trick? Nobody is tricking anyone. If anything, the real "trick" is providing a service to someone at no-cost, then having to pay the repair bill when the infrastructure for that free service breaks or when performing regular maintenance (pumpouts).
Family size is definitely a consideration.
When was a tenant, I cant recall anything being provided for free. That would be like saying, "hey you have all these extra parking spots, let me just park all 5 of my cars in your parking spots. After all , the spaces are just there anyways, right?"
Wrong. Number 1, it's their property and they determine its use. Number 2, there was a cost associated with setting up that amenity. And number 3, there is value in extra parking! (ie, you can - and should- charge for that)
Point taken I think i need to ponder that one for a while.
Post: Discount Rates vs. Cap Rates in CRE Analysis!
- Contractor
- Orofino ID, Hollister CA
- Posts 139
- Votes 71
So i'm in a market with little or no comps and there is no general cap rate for the area. with this in mind how do I figure out what my building is worth? lets just for round numbers say it has a NOI of 60k per year and the rents are all pretty much stabilized How do I value it?
Post: Why would a seller would consider seller financing
- Contractor
- Orofino ID, Hollister CA
- Posts 139
- Votes 71
Simple question what will you do with the cash from the sale? if you do not need the cash Can you get more money charging interest to the buyer and potentially a higher sale price. I think a guaranteed 7 or 8 % interest rate on a home loan is gonna generate more income than most other less riskier investments.
Post: Inheriting M2M tenant who smokes - give them the boot?
- Contractor
- Orofino ID, Hollister CA
- Posts 139
- Votes 71
If the rent is in the area of what you wish to receive and otherwise they are a good tenant I would ride him out. Unless you have other plans for the building that makes it more cost beneficial to get rid of him now. Personally I would rather keep the tenant and deal with it later so at the beginning I have less hassles
Post: Community Internet as an amentity
- Contractor
- Orofino ID, Hollister CA
- Posts 139
- Votes 71
Quote from @Dave Rav:
@Logan M. and others:
something else I've been mulling... if you have septic for sewer, why not bill tenants a flat rate?
After all private utility isn't "free" as it's perceived to be. There is an infrastructure and maintenance cost to the landlord. (Free for tenant, yes)
And I'm suggesting a flat rate sewer fee. The cost would be LESS than the tenant would typically pay through city sewer. All the while, this small cost helps offset the cost of the septic. So hopefully all parties would be happy with the arrangement.
Thoughts?
I guess its another way of tricking them to get more rent but in the end its all the same. I do think that family size maybe should be a concern/rent factor when renting a place that's on septic. Obviously more people means having to have the thing pumped more often.
Post: Is 25k enough to start in the Bay Area?
- Contractor
- Orofino ID, Hollister CA
- Posts 139
- Votes 71
Look into the meetup group Bay Area Real Estate Hustler Network. These are good guys from the East bay they have both live and virtual meetups. I'm sure they would love to help you and your ability to find potential leads.
Post: Community Internet as an amentity
- Contractor
- Orofino ID, Hollister CA
- Posts 139
- Votes 71
I do provide internet services but I do not explicitly offer it with the rent. I do however charge a little more rent than the next guy and have happy tenants. I just let them know its a free amenity that I let them use for free that way if it goes out its not on me.
Post: "Rural property" private money/hard money
- Contractor
- Orofino ID, Hollister CA
- Posts 139
- Votes 71
Quote from @Abdiel Garcia Rodriguez:
Hey Justin! I would love to connect with you! I am part of Pace Morby's Gator Method Community and can help with securing financing. Ill shoot you a DM!
Aren't Gator loans a very short term option? From days to maybe no more than a month? I will admit I am not a disciple of Pace's but do follow along now and then. Please help me understand.
Post: "Rural property" private money/hard money
- Contractor
- Orofino ID, Hollister CA
- Posts 139
- Votes 71
Yup I have had the exact same problem in rural and not so rural Idaho the hard money guys have a very specific box and no matter the risk/reward they either wont lend or want you to have so much down that it makes no sense to even get a loan. Personally I am trying to line up private lenders but its still a tough road. The upside is once you figure out financing you will have an edge in an under served market. If anyone else has lenders who will lend in a county of 8,000 people please shoot me a DM I'm always willing to hear what some have to offer.