All Forum Posts by: Lari A.
Lari A. has started 5 posts and replied 43 times.
Post: How I Completely Lost My A$$ On This Deal
- Tampa, FL
- Posts 48
- Votes 15
Originally posted by @Engelo Rumora:
G'Day everyone,
It's your favorite Aussie and The Real Estate Dingo.
I am writing to you today with my head down and my tail between my legs as I just lost $25,000 on a recent deal.
I don't have any deals under my belt yet, but I come to BP to learn what I can from those who have been doing for years what I want to also do for years. Very rarely do I come upon a post where an experienced investor admits to making mistakes, and even though I'm sorry that you were taken advantage of, I appreciate how thorough you were in laying out how and why you were. Thank you so much for your honesty and transparency, and all the best to you going forward!
P.S.: I know that this business is about profit, but with tongue firmly planted in cheek, I look forward to the day when I can lose $25k on a deal, because that will mean that I actually had it to lose!!! ;-)
Originally posted by @Christopher Brainard:
Originally posted by @Lari A.:
Is my understanding incorrect about Cap Rates regarding cashflowing properties for sale?
The answer, in my opinion, to that question is yes and no. I understood what you meant on your original post, I assumed you were talking about a Cap Rate on a SFR and phrased my answer accordingly.
Thank you Christopher. That was both informative and thorough, and gave me much to chew on.
Originally posted by @Troy Gravett:
Thank you Troy -- I will do that!
Originally posted by @Christopher Brainard:
You haven't found any information because Cap Rates aren't generally used when looking at residential properties. The cap rate doesn't take into consideration the repairs that need to be completed on the property or the area the home is in. Usually, an investor is more interested in the comparable properties, the condition of the house, and the projected Return on Investment (RIO) the property has to offer.
-Christopher
Thank you for the response, Christopher. I think that I didn't pose my question thoroughly, as I was really asking about properties for sale that are currently occupied by a tenant. I've been led to understand that Cap Rate % comes into play in that situation; when a property is already rented and cashflowing as a property is being sold. It's my understanding that under those circumstances that a potential investor who intends to keep the renter in place would want to know the Cap Rate %, and I'm trying to find out what Cap Rate would be the standard in Tampa and its surrounding areas.
Is my understanding incorrect about Cap Rates regarding cashflowing properties for sale?
Hello BP Community!
I'm a new Wholesaler (no deals yet) who is trying to find out what Cap Rates would be appealing to investors in Tampa, broken down by neighborhoods. Can someone help me out with this? I've searched, but can't seem to find this info.
Many thanks!
Thanks again for the welcome, and well-wishes everyone!
@Mark Nolan @Aaron Trommater
Thank you for the welcome, the advice, and for ignoring the egg on my face! :-)
I wish that I would've known about BP before drinking the kool-aid of several gurus, but I'm here now. I'm so impressed by the sheer volume and quality of information available, as well as how freely the more experienced members (like yourselves) share your knowledge.
If there's anyone interested in taking this newbie under their wing, I'd be grateful!
Originally posted by @Tom Kelly:
L.D.
Welcome, Tampa also and a newbie!
Thank you Tom, and welcome to you too!
Originally posted by @James Syed:
Welcome to BP.
It's a great platform to learn and network.
Thanks for the welcome, James!
Originally posted by @Adrian Smude:
welcome to BP! Keep at it!
Thank you, Adrian. I WILL!