All Forum Posts by: Larry Flanagan

The cap rate for a long-term ground lease will be lower than any other property type out there.

I said i've gotten lazy.  I've worked with these guys for years.  Are these prices out of line?

I have gotten lazy lately when it comes to getting bids for work.  I have been just calling my usual guys and telling them to do the job, then I get the bill and resulting sticker-shock.  This is for a 1,200 SF ranch with 500 SF finished basement.

New 2.5 ton AC unit & coil - $2750

Replumb entire house (1.75 baths) - supplies, wastes, & vents (excl. fixtures) - $5300

Rewire entire house & garage to code - new panel, service ok (excl. fixtures) - $5300

Paint interior 3 colors (walls, ceilings, trim), incl. removing some wall paper, most surfaces required 3 coats, incl. paint utility basement walls & floor - $4650

I'm in a medium-sized midwestern city with average material & labor prices.

Are you calling unrealized "rent to own" sales as income/profit?  I made that mistake in a previous life...

I'm sitting on an offer for $35k but I am working with another group who I think will pay $50k but their due diligence is taking forever...

I just bought a very clean, low mileage, used Porsche 911 turbo for $40k.  MSRP new was $116k.

I knew I had good credit but I checked my score today out of curiosity with Equifax and was floored to see I have a perfect 850.  

"Your credit score ranks higher than 100 percent of U.S. consumers."

I own a house on a big lot that I am splitting an acre off for sale and development.  There is a large tree on the property line that may have to be removed or trimmed for access to the new lot.  I would like to give the lot buyer full control of the tree so there are no issues down the road when he wants to build.  How can I do that?

I just bought 2 acres with a house on it and I can split off a 1 acre flag lot to sell as a single family lot.  There are no sale comps of flag lots to look at.  Nearby, 8,000 - 9,000 sf lots in a typical subdivision are selling for $50-$60k and builders are putting up $200-250k houses on them.  My lot is 5x the size but a buyer will have to extend water, electric, and a driveway about 300' and install a septic tank.  Do you think the large size offsets the development costs?  Do you think my lot should be worth more, less, or the same as a typical neighborhood lot?

A landlord acquaintance of mine told me a tenant recently noted on a rental application his occupation as "blood donor".