All Forum Posts by: Lior Solomon

Thanks Scott

Please send me their contact details

Lior

Here is my rule of thumb for expenses, please let me know if that makes sense:
Vacancy rate - I use neighborhoodscout.com to get the neighborhood average vacancy rate. I agree with you Ned Carey that 3% is too low (it's 14% in my case)
Management fees - 10%
Repairs - 3%
Insurance - 3%
Legal and other professional fees - 3%
Taxes - depends on the area (16% in my case)
Cleaning and Maintenance - 1%
Utilities - 1%

Thanks

Thanks Ned Carey !
That's really helpful.
I will contact them later this week.

Lior

Thanks everyone for the info this is really helpful!
Please feel free to recommend PM companies you are familiar with.
What would be the best way to contact PM companies in Baltimore other then the yellow pages? :)
I tried the http://irem.org directory but so far only one got back to me.
Am I over thinking this?

Thanks guys for the info.
@Ray Corkran it's a single family, and yes if a student leaves I have a vacant room.
I'm thinking to sign the contract to only one student and provide him some sort of incentive in return so I won't be the one moderating conflicts between the tenants. Does that makes sense?
the property is in Charles village.
Thanks

Lior

Hi guys,
I'm new to the BP forum and to REI in general.
I'm wondering if you could share with how common are property management companies in the Baltimore area.
Considering the fact I'm about to buy my first property in Charles village(planning to rent it to 4 students) I'm afraid that's not kind of a prospect that would interest big management companies and on the other hand I'm afraid to work with one man show companies. Am I wrong?
In case management companies are available to my portfolio, what rate should I expect?
Thanks in advance!
Lior

Hi Shaun,
Thanks for sharing this info.
I'm wondering if you are planning to use a management company to take care of the tenants etc?
If so, how easy was it to find one in Buffalo? what are the rates?

Thanks

Dear forum members,

I'm new to this website and to real estate investment in general. So I would like to thank you for taking your time giving an advise to a newbie :)

I've been looking together with a partner to invest into the multi family market.
We've been going through all kind of areas and in the past 2 weeks we landed on Albany, NY.

Here is a quick analysis we ran over Albany, I would love to hear your thoughts of what parameters are missing and what's your thoughts about Albany in general.

- Unemployment rate went down from 9.1% in January 2013 to 6.9% April 2013.
- Population growth was in decline in the past 10 years (-6.66%) and past 5 years (-2.57%) and showing recovery on the forecast to 2013 (0.02%)
- Appreciation rate wasn't doing good in the past 5 years(-4.48% annual avg) but there a change in the past 12 months (-3.67%)
- It defiantly looks like a renters market with more then 60% renting. so cash flow shouldn't be a problem as long as the unemployment rate keeps on preforming that good.
- I also like the idea that there are plenty of educational institutes in the city and students can promise a low rate of vacancy.

Our exist strategy would be buy and hold and enjoying the cash flow while waiting for the market to gain.

Again thanks for the advise.

Lior