All Forum Posts by: Sri Ram

I use rent manager which has better features than appfolio. I have compared both.

Thanks Arun. The property is 75 units, 15 have to rehabbed full and 13 units have to be rehabbed for rent. The NOI is 302k currently with 60% occupancy.

Want to do a partnership, trying to figure out a valuation?

About 400k may be needed for  rehab

Hello All

         I am in a discussion with a property owner to buy a property. the Property owner wants to do a partnership now. He acquired the property about 15k / unit. Now he was ready to sell at 33k/unit. Now because it a partnerhsip what value can be put for the property. The property was acquired at 43% occupancy now it is at 60%. There has to be rehab work done for an estimate of 450k on the rest of the units. My question is what kind of value can we put for the partnership in its current state.

Thanks

Welcome back Cesar. Hopefully the rents are around 900 to 950 per month with separated utilities  like water and electric paid by tenants. then seems a reasonable deal in this market. 

good luck.  If you need any advice, you can reach out.

I agree with Kari, Property management software gives much more than accounting. Specially when you want to keep track of what work and material was used.

If you want to keep track of expenses where it all does it got spent when it comes to a  by unit or by property it helps you there.

If your plan is to have lot of units, it is better to go with property management software, it may sound expensive initially but the per unit cost drops down when you get more units.

I hope this helps

It  depends that if the net $1000 you are going to live of it or you have other income to live off.

If you have other earned income to pay your living expenses then it will pay out in the long run.

Things happen as they always do, after a month if you need to do some repairs, you should able to come up with the money from other places then you can take the risk.

1000/ month , 12k /75k seems good return (16%) cash on cash. 

Other thing you have to see what is the upside potential for rent increase.

Good luck. hope this helps.

It depends if you plan to increase your portfolio further. If so we use Rent manager or other property managment software as things are more based on the unit/property which is difficult to handle in quick books. We used to use quickbooks before. Specially tracking the work orders/materials etc related to each unit/property makes a lot of difference.

Hi All

     I am looking to visit atlanta  this weekend 04/23/16 to look for some oppurtunities.

Please let me know where to look for.

Thanks

Sri

Welcome to Bigger pockets. Review the Podcasts and listen to them which interests you. Good luck with the purchase of the house. 

Familiarize with the various topics related to rentals. 

Sri

Hi Josh

Welcome to the BP. Listen to the PODCASTS. They are full of resourceful and great info from real people who are doing Real estate every day.

Great ideas and motivation come from listening to them.

Forums and resources tab have great articles also

Good luck.