All Forum Posts by: Paul Bowers

Wouldn't rents also rise as cost of purchasing homes rise?

If your numbers are accurate I would think a buyer would want to own that for about $50-52,500.  From there figure out how much you think you need to make and there's your offer.

Forgetting about the upfront payment, If you truly think you under priced the market on rent it may be easier to re-rent after a year and raise the rent on a new tenant than to try and bump an existing tenant $100-200 per month. 

Here is a pretty solid explanation:

https://www.biggerpockets.com/renewsblog/2013/01/19/real-estate-math/

Be careful with horse related property in the Boston area. With 25 stalls this is more than just a hobby farm. From what I understand Suffolk Downs only has six racing days this year and will probably be gone in another year or two. I would venture to guess that there will be more inventory (empty stalls) than tenants in the New England area.

For an 11 unit complex you wouldn't use comps. Run the numbers based on NOI and local cap rates and go from there.

If rent is due on the first isn't it late on the second? Shouldn't you be able to serve notice on the 2nd. I assume your lease doesn't charge a late fee until the 6th but that doesn't mean the rent isn't late.

You're talking about reducing your interest rate on $30,000 from 8% to what, maybe 4 or 5%? If you're going to pay it back in less than 6 months why even bother? The savings can't be enough to offset the aggravation can it?

You can try the bigger pockets one a few times for free if I'm not mistaken.

You say you're wholesaling. Run a few of your deals through the BP flip calculator and just show him actual hard numbers that you could help him find. Another option would be to ask him to partner up with you on one. See if he'll just provide the financial support and then hope he catches the "fever" from just tracking the progress and being involved on the fringe.