Nike Roshe Kids Black

Nike Roshe Kids Black

Nike Roshe Kids Black

Originally posted by George P.:

Also, it's great to say that the numbers work, so the deal works for your model. The income method will be heavily scrutinized (with good reason). The price you bid for the asset should be weighted between two methods at the least and perhaps a third (such as replacement cost) to come up with a valuation. For instance, you would weight the income method 60%, comps 20% and so on based on your interpretation of the market You should be able to do this without the assistance of an appraiser, at least Nike Roshe Run Speckle Black

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What you should really be focused on is the cashflow. This is what any investor looking to buy from you or any bank looking to lend to you will focus on Roshe Run Black Red

Now you'll need to figure in expenses. Appraisers will automatically take about 5% of the gross income for anticipated repairs, and another 5% for anticipated vacancies. I have no idea what water bills are like in your market, but here in Philly in my experience it's been about $25 per month for a 1 BR apartment. So I would estimate about $150 per month for that building, or $1,800 per year. If there are any common areas that are lit, then you would have to figure in a small electric bill (maybe another $25 per month or $300 per year). If you plan on managing the building yourself, then that's fine. If not, then deduct another 7 10% for property management.

so let's say he uses 10% cap to get to 367k. he should make a lower offer, which esentially means he is dividing by a higher cap rate?

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similar properties.

Yes, the higher the cap rate, the higher the return and the lower the offer.

While many banks will value 5+ units based on the income approach most banks will still look Nike Roshe Kids Black at comparable sales in the area as well on a 6 unit building. It really depends on the bank. I'm not sure of the expected loan value however lending appetites for smaller multi families 5+ are much smaller than larger complexes. Especially when dollar amounts are

´╗┐How do I figure out a value

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Look at your market and see what apartments are renting for in that area. You're probably going to get numbers all over the place, but since you plan on renovating the apartments, then it's safe to use rental figures toward the higher end of the spectrum. But not too high. You still want to be a little conservative with your figures. The closer to your building, the better. Add up all the monthly rents from the apartments, and multiply by 12 to get your gross yearly income from the building.

Now you'll need to figure in expenses. Appraisers will automatically take about 5% of the gross income for anticipated repairs, and another 5% for anticipated vacancies. I have no idea what water bills are like in your market, but here in Philly in my experience it's been about $25 per month for a 1 BR apartment. So I would estimate about $150 per month for that building, or $1,800 per year. If there are any common areas that are lit, then you would have to figure in a small electric bill (maybe another $25 per month or $300 per year). If you plan on managing the building yourself, then that's fine. If not, then deduct another 7 10% for property management.

Take the gross yearly income, subtract all the expenses I mentioned, and you have your NOI (net operating income). Example below:

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in the initial evaluation stage

Lastly be careful of your rehab costs. Building code changes for buildings over a certain number of units. fire, life, safety requirements etc.

Any lender will order an appraisal prior to financing. The appraiser will look at similar properties recently sold, probably focusing on 5 10 units to determine a price per unit as well as a cap rate or GRM (gross rent multiplier). Using these things, they'll come up with a value. If you're wanting a very quick and dirty ARV estimate, look at the price per unit of similar buildings that have sold in the area. If 5 plexes sell for $250K, You can expect a 6 plex to come in around $300K. If you're wanting a more precise value, look at the expected rents for each unit, factor out reasonable expenses and then compare to the comps that have sold recently in the area.

Originally posted by Chris Wyche:

Take the gross yearly income, subtract all the expenses I mentioned, and you have your NOI (net operating income). Example below:

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and it's what makes a buy and hold investment worth making. Check out the Wikipedia explanation of cap rates for more info. You may want to check out some real estate pro formas to help you figure out the NOI and cap rate for this investment. Values will change depending on the purchase price. It's kind of hard to figure out what the market cap rate is without talking to a local commercial appraiser, but you can figure out the net operating income.

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Look at your market and see what apartments are renting for in that area. You're probably going to get numbers all over the place, but since you plan on renovating the apartments, then it's safe to use rental figures toward the higher end of the spectrum. But not too high. You still want to be a little conservative with your figures. The closer to your building, the better. Add up all the monthly rents from the apartments, and multiply by 12 to get your gross yearly income from the building.

There's really not much if any benefit to determining an ARV (that assumes a rehab will take place and a valuation after work is completed) unless you're going to sell or looking to refinance after extensive repairs.

Well basically, an appraiser is going to determine value by taking the net operating income and dividing it by the market cap rate. It's kind of hard to figure out what the market cap rate is without talking to a local commercial appraiser, but you can figure out the net operating income.

Getting back to the numbers example given, the NOI is way to high because the expense ratio is way too low. Everyone above has stated solid information. But, it's important to remember that cap rates don't come out of thin air. I'm a residential appraiser, but it should be noted that cap rates come from the market. In other words, cap rates come from the numbers of other similar properties aka comps. So while a cash flow analysis will be performed on a commercial property, those rates and figures should be derived from the comps, or at least of database of Nike Roshe Navy Womens

Nike Roshe Kids Black

Nike Roshe Kids Black

Six 1 BR units rented at $600 per month = $3,600 per month and $43,200 per year in gross income.

Six 1 BR units rented at $600 per month = $3,600 per month and $43,200 per year in gross income.

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