All Forum Posts by: Philip E.
Philip E. has started 3 posts and replied 67 times.
Post: 15 unit deal help
- Investor
- Washington, DC
- Posts 67
- Votes 12
Free marketing channels are great!
Based on what you’ve shared, doesn’t appear the seller provided a definitive reasoning how he arrived at his numbers. …If I were in your shoes I would start with:
1. Find out gross rents (..Seems you may have this number already)
2. Determine All annual expenses (…sometimes I do a back of the napkin calculation for about 55%)
3. Research cap rates for that sub-market area. Contact local broker to see what cap rates commercial properties are trading as in that area.
4. Determine the NOI : annual gross rents - annual expenses = NOI
5. Calculate the approx. market value: NOI / cap-rate (if market cap rate is 5.5%, then the you do NOI / .055)
6. This is all preliminary; However the number you arrive with in number 5 would help me gauge if this is worth looking into further and exploring if there there is value add opportunity based on:
a. Local market rents
b. Condition of property
c. Misc. micro-economic variables impacting that area (casino being built, government agency transitioning into the area, etc.)
d. Anything else I overlooked during this 2minute brainstorm.. :-/
Also these guys have always contributed great in depth advise on how to approach these opportunities:
@Ben Leybovich
@Serge Shukhat
@Brian Burke
…My two cents, Happy hunting!
Post: New member from Washington DC
- Investor
- Washington, DC
- Posts 67
- Votes 12
Welcome to BP! ...Its very competitive here, but my experience tells me there is much opportunity. Happy investing!
Post: Hello Everybody from the DMV Area!!!!
- Investor
- Washington, DC
- Posts 67
- Votes 12
Originally posted by @William Kenley:
I just turned 30 and Im tired of the 9-5 grind. I figure I will never get ahead killing myself doing overtime, so I want to make a splash into real estate and I happened upon this site. I would love to meet with some individuals from the DMV area. I would also like to say hello to everybody else on the board. Although I just signed up I have been getting information off this site for years.
William Kenley Welcome to Bigger Pockets!
Post: Real Estate Investor introduction
- Investor
- Washington, DC
- Posts 67
- Votes 12
@Larry Rock Welcome to BP!
Post: Newbie from Maryland
- Investor
- Washington, DC
- Posts 67
- Votes 12
@Edward Davis Welcome to Bigger Pockets!
Post: ...Have any Projects In Denver?!?!?!?
- Investor
- Washington, DC
- Posts 67
- Votes 12
Originally posted by @Anson Young:
Great way to connect! Unfortunately I dont have any time in the next few days to take anyone on a tour! I have a few in Aurora, and 2 in Centennial.
I understand, Thanks for your response Anson! Happy Investing!
Post: ...Have any Projects In Denver?!?!?!?
- Investor
- Washington, DC
- Posts 67
- Votes 12
Originally posted by @Philip E.:
Hi BP - I am in Denver on business today and tomorrow and I would love to see any projects you guys are working on out here! I am staying in the Glendale area, However, I am also open to seeing projects in any of the adjacent subdivisions (Edgewater, Mountain View, Englewood, Commerce City, etc.)
Phone would be the best way to contact me, Thanks!
My phone number is 202.607.0148
Post: ...Have any Projects In Denver?!?!?!?
- Investor
- Washington, DC
- Posts 67
- Votes 12
Hi BP - I am in Denver on business today and tomorrow and I would love to see any projects you guys are working on out here! I am staying in the Glendale area, However, I am also open to seeing projects in any of the adjacent subdivisions (Edgewater, Mountain View, Englewood, Commerce City, etc.)
Phone would be the best way to contact me, Thanks!
Post: Fresh investor from NOVA/DC/MD
- Investor
- Washington, DC
- Posts 67
- Votes 12
@Dustin Mullins Congrats on your REO purchase! Happy Investing!!
Post: Moving to Maryland DMV area need advice on the real estate market
- Investor
- Washington, DC
- Posts 67
- Votes 12
Welcome to the DC area! Happy Investing!