Archive for December, 2007
Offer accepted!
After a little back and forth late last week, I’m the new owner of a four unit piece of property. Well, assuming all goes well until the closing. I’m going to go ahead and give some of the details here and assume that the seller isn’t a regular reader.
The seller was asking $135,000. We offered […]
Rents take big jump in 3rd quarter
Scott over at Minnesota Investment Real Estate linked to a great article. An excerpt:
Apartment asking rents posted their biggest increase of the year in the third quarter, jumping 4.2% from a year ago, to an average of $1,015 per unit, according to real-estate data firm Reis Inc. And vacancy, which had edged up slightly earlier […]
Term of the day: Pro-forma
Pro forma: In reference to real estate rents, pro forma is the rent amount that the seller believes is fair, relative to the area. It’s basically a projection of what you can get. Often (I should say always) this is inflated, unrealistic or incomplete. Find out the actual rents or gross income. Even if the […]
Read More..>>Making a low-ball offer
Back in October, during guest post week, I had a post from Noah at Urbandigs.com about timing a low-ball offer. The last few days I did another search for some other posts and articles about low ball offers. Given the real estate environment, now is a good time to look at these.
The anatomy of a […]
Choosing a house in San Antonio
We checked out the houses on Tuesday with the broker. Online pictures certainly decieve. We checked out four of the ones I listed as well as one other that I had not listed. Out of these, we’ll be making on offer on #4. This was the four unit for $135,000. Is it in great shape? […]
Read More..>>Going it alone? 20 top FSBO markets
Another day, another list. This one is the top For Sale By Owner markets. It is interesting to see why some cities have a very healthy FSBO market while others don’t. If you read the article, you’ll see that Madison, WI is a top market simply because of a Web site, FSBOMadison.com. It’s not the […]
Read More..>>San Antonio will soon be making me money
Things have moved along pretty steadily in the last week since I’ve been in San Antonio. I’ve spoken with an attorney and the LLC filing for my business will be done soon. I’ve got a loan approval and can move forward on a house or two. I’ve also spoken with two brokers and am using […]
Read More..>>Frankie Muniz: Real Estate Mogul or Muck-Up?
As an extension of my celebrity gossip post the other day, I came across this on TMZ about Frankie Muniz. Remember him, that kid from Malcolm in the Middle? Apparently he bought a Hollywood Hills home for $3.5 million in 2006 and now has it up for sale for $3.9 million despite extensive upgrades. Of […]
Read More..>>Most secure U.S. cities
I got an email yesterday from Sperling’s Best Places with their “most secure” rankings. They took into consideration crime statistics, extreme weather, risk of natural disasters, environmental hazards, terrorism threats, air quality, life expectancy and job loss numbers in 379 U.S. metro areas, and they broke it down into large cities, medium cities, and small […]
Read More..>>Term of the day - All bills paid
All bills paid: In relation to rental units, this means that the landlord pays all the bills, such as electric, gas, water, etc. Basically, the cost is included in the rent and the tenant only has to make one payment to the landlord a month.
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