@Regran_ed from @grenzigcre - So figured I’d talk a couple rules of thumb we base a lot of our assumptions around until we can get actual numbers, budgets, projections, etc. together. DO NOT USE THESE AS A BE ALL END ALL OR YOU WILL BE WRONG! These are solely used as a jumping off point, things we like to see, or estimates to be replaced as we go through a deal.
The old 50% expense rule, if you’ve never heard it, you will hear it a lot.
When we proforma a deal, we always sell at a higher cap rate than what we bought it for or where the market is. To be conservative we add .10% percent to the exit cap rate for every year we plan on holding. 5 years would go from a 6.0% cap rate to a 6.5% cap rate.
We always start off with 2% income and expense growth to account for average inflation. However, if we think an area is higher for income growth, we always match our expense growth to it!!
$300 per unit in reserves is pretty industry standard and what a lot of lenders will require, however sometimes we will go up to $500 a unit in the 3rd or 4th year if the building is older and think it may need additional money.
This last one is one that really only works if you’re buying properties with an average rent between $600-1100 because the way the expenses work. However this is the range in which we like to buy, so it works for us and it is something we would LIKE to see, but is something we can overcome for the right reasons. In a perfect world, we would like our ALL-IN price per door to less than or equal to the avg rent x 100, but usually go for the per door on just the purchase price.
Hopefully these can help you when you look at deals and hopefully at least one of them you haven’t seen before!
Alugue apartamento no Ed. Corum, propriedade do @grupocarlton pensada inteiramente para o aluguel residencial, no Setor Noroeste, Brasília.
O Ed. Corum oferece várias opções de planta e tamanho, que variam de 32 m2 a 52 m2 de área privativa. Na imagem acima, mostramos a perspectiva ilustrada da unidade de 35 m2.
No Ed. Corum você poderá usufruir de comodidades como academia 24h sem custo para moradores, lavanderia central, concierge dedicado in-loco, pet-friendly, entre outras comodidades.
#2 . The Rothschild Family – $350 Billion
Originally from Germany, the family established a banking dynasty in the 1760’s. Their exact wealth combined as a family is not clearly known – some say they are worth in total over 1 trillion alone in assets, but taking into account what is known they are worth at least $350 Billion
Sold Out 5 january 2019
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