Archive for November 14th, 2007
Property Invest Operating Budget Confrontation
Wednesday, November 14th, 2007This doesn’t have to be difficult, but you do eventually have to reveal to the seller your findings on the property. And you’ll need to do this before the end of clue diligence or the property is yours, warts and all, as the saying goes.
It’s all in the presentation. You can [...]
The Operating Budget of Real Estate Investment
Wednesday, November 14th, 2007This really sounds much more complicated than it is. I taught you how to read a seller’s pro forma and make an offer. The steps to the budget are not all that different. You calculate the property income by using the information you obtained on the income statement, rent survey, [...]
Real World Example of My Property Investing
Wednesday, November 14th, 2007My partner and I recently purchased a 182-unit property located in Sun City, Arizona, an age-restricted fifty-five-and-older community. It was constructed in 1996 and was in excellent condition. The ownership was based in New York City and this was their only property in Arizona. After running the numbers we calculated that [...]
The Property Plan Adding Value
Wednesday, November 14th, 2007It would be nice if making sense of your property evaluation was as easy as finding that $700,000 worth of repairs are needed, saying, Mr. Seller, we want to reduce our asking price by $700,000, take it or leave it. It’s not that simple. With the Tucson property, we looked at [...]
Signing the Agreement
Wednesday, November 14th, 2007Once both the buyer and the seller agree upon all the terms of the agreement, you have a completed purchase and sale agreement that is ready to sign and date. This agreement is binding, and in most cases you will be asked to put down an earnest money deposit on the [...]
