All Forum Posts by: Dovid Staples

Sue that's golden. Thanks! ...honeypie lol

@tracy Dydney, I was actually very careful not to claim to be a resident or use any wording that would indicate I was talking about my own apartment. And I definitely do not live there.

Sue that's a great idea!

Hello BP. My lady is a living in an apartment complex in Chandler AZ. The management is terrible and I hear about one issue after another after another. The laziness of the place bugged me as well as I visited often enough. Since she doesn't have a Facebook I decided to leave a negative but truthful review on their Facebook page.
They had the audacity to actually call her in to the office and demand I take down the comment. They said they would charge her an extra $75 a month as if I was a resident and even mentioned things about eviction.  

Real or empty threats?

Hi Rick! I'd be happy to do some bird dogging for you to reach your rental property goal. I'll send you a colleague request.

ok so it seems like on one hand I decide what cap rate I want (which I do), yet it's the current market that determines what a reasonable cap rate to demand is (which I'm trying to figure out). In which case I can simply reach out to awesome folks like @Tim Winter ha I knew it came down to something super simple. Thank you guys for your feedback!

OK, perhaps I'm going about this all wrong. What I was told was to valuate the properties based on the cap rates of similar properties in the area. That It's a good way to gauge if the cap rate I want to attain is unreasonable and to gauge what a fair price would be based on it's operations and see if I'm getting a good deal or not based on the current trends. and whether my offer would be considered low-ball, fair, or too high. 
I did consider the ones going for a 7 cap, but then considered that perhaps that was part of the reason they were STILL for sale. 

@Anthony chara yes I meant NOI. Thank you for the info!

Hello BP! I have a question that I'm sure is as newby as it gets. I found a six plex in n the Phoenix az metro area, called the owners, had the current income and expenses emailed to me and began to do the numbers to determine the value of the property. My preferred method I think is using ROI and cap rate, but I can't figure out the cap rate I should use to determine that. The cap rate for THIS property at their asking price is 5.3. The cap rates of other properties currently for sale in the area seem to average about 7.1, but I don't know where to find data on SOLD multi-family properties online more recent than 2014 or how to narrow down the data to the parameters of the property I'm looking at. Your guidance is appreciated!

Hello BP! I have a question that I'm sure is as newby as it gets. I found a six plex in n the Phoenix az metro area, called the owners, had the current income and expenses emailed to me and began to do the numbers to determine the value of the property. My preferred method I think is using ROI and cap rate, but I can't figure out the cap rate I should use to determine that. The cap rate for THIS property at their asking price is 5.3. The cap rates of other properties currently for sale in the area seem to average about 7.1, but I don't know where to find data on SOLD multi-family properties online more recent than 2014 or how to narrow down the data to the parameters of the property I'm looking at. Your guidance is appreciated!