All Forum Posts by: Jim Horton

I am interested about this off market property.

Jim Horton

no listings .... Prefer off market

I would walk away. They should be keeping books for each property.

The fist thing you need to do is check with the local building/planning department and find out about the zoning for the property. Can more units be built there? Secondly what density you can build the units(units per acre). thirdly you need to know how many parking spaces per unit you are required. Also check what you will owe per unit in planning fees such as school fee etc...... That is for starters.

Jim

One thing you can do is implement a RUBS program for the utilities that the owner currently pays. But as a buyer you never base your purchase offer on what the expenses could be, You base them on what the expenses currently are and what the current NOI and Market CAP rate are.

It is in violation of the law for him to refuse to present your offer. He is obligated to present all offers to the seller. 

you can contact the companies and they can tell you.....or Google whaat city it is in and RUBs and it should take you to information......I did it in chatttanooga

Bill,

You should google something called a RUBS system. There are companies out there that will do this for you. They prorate the utilities based on square footage, tenants, bathrooms etc. You will be pleasantly surprised by it I think. You can also message me about it...I have looked into for one of my properties.

well I know my friend just bought a duplex in Galt for $305k and market rent is $1200 per side.....

Galt is south is Sacramento about 20 minutes 

You may want to try Sacramento and surrounding communities.