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re: Rental Property
Posted on 4/2/18 at 8:19 am to Mr.Perfect
Posted on 4/2/18 at 8:19 am to Mr.Perfect
You have to know the cap rate. Most want to purchase at 10-20% and sell for 10% and under.
There should also be a GRM, Gross rent multiplier for the area
You can use loopnet, or any commercial brokerage site to get a better idea of pricing for the area.
What do they rent for?
There should also be a GRM, Gross rent multiplier for the area
You can use loopnet, or any commercial brokerage site to get a better idea of pricing for the area.
What do they rent for?
This post was edited on 4/2/18 at 8:39 am
1
Posted on 4/2/18 at 9:12 am to Rust Cohle
quote:
You have to know the cap rate. Most want to purchase at 10-20% and sell for 10% and under.
This. Be very careful OP, why doesn't your family member have an offer for you?
You don't want to buy something just because a decent offer is there from family. Soooo often that works out poorly.
You need to make sure this is something you would buy if it was a 3rd party too. Just because it's an easy property to rent and decent income for your family member doesn't mean what they sell it to you for makes sense for you.
If the family member is really much of a family member, why don't they help you come up with a fair offer?
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