 setting sale price (by Pam [MA]) Apr 14, 2019 7:39 AM
 setting sale price (by NE [PA]) Apr 14, 2019 7:40 AM
setting sale price (by pam [MA]) Apr 14, 2019 7:54 AM
setting sale price (by myob [GA]) Apr 14, 2019 8:08 AM
setting sale price (by plenty [MO]) Apr 14, 2019 8:20 AM
setting sale price (by AllyM [NJ]) Apr 14, 2019 8:27 AM
setting sale price (by Live The Dream [AZ]) Apr 14, 2019 8:47 AM
setting sale price (by NE [PA]) Apr 14, 2019 8:59 AM
setting sale price (by Robert J [CA]) Apr 14, 2019 10:24 AM
setting sale price (by Busy [WI]) Apr 14, 2019 10:58 AM
setting sale price (by Deanna [TX]) Apr 14, 2019 11:47 AM
setting sale price (by Robert,OntarioCanada [ON]) Apr 14, 2019 2:33 PM
setting sale price (by Hoosier [IN]) Apr 14, 2019 3:41 PM
setting sale price (by Live The Dream [AZ]) Apr 15, 2019 12:27 AM
setting sale price (by Pam [MA]) Posted on: Apr 14, 2019 7:39 AM
Message:
How do you set the sale price by cap rate? THERE IS NO COMPS AROUND.
Small town,isolated, very different economic base.than surrounding towns. (I have never sold a property before but its time for this one) Its a 4 plex in good shape. --66.30.xx.xxx |
setting sale price (by NE [PA]) Posted on: Apr 14, 2019 7:40 AM
Message:
Pay for an appraisal. --174.201.xx.xxx |
setting sale price (by pam [MA]) Posted on: Apr 14, 2019 7:54 AM
Message:
I know two well known appraisers. Both said they didn't wanted to do it citing the same reasons. --66.30.xx.xxx |
setting sale price (by myob [GA]) Posted on: Apr 14, 2019 8:08 AM
Message:
2 ways to approach. 1. are you selling straight out -- bank financing or 2 owner financing?
Mortgage lender can give you name of appraisers they have approved.
#2 we use 120% of value with owner financing. With a 4 year prepayment penalty-- that covers the 5% discount we give them for upgrades at closing.
--99.103.xxx.xxx |
setting sale price (by plenty [MO]) Posted on: Apr 14, 2019 8:20 AM
Message:
You have a unique property? Just price it and soon you'll know if its too high or low. Ask a real estate agent to assist and earn their keep --99.203.xx.xxx |
setting sale price (by AllyM [NJ]) Posted on: Apr 14, 2019 8:27 AM
Message:
How far are you from a major city? Maybe someone wants a fourplex as an investment and doesn't care where it is. Don't think of just selling it to someone local. How about going on Craig's List and seeing what comparable properties are going for? You can list it also on Craig" List and that doesn't limit you to local people looking at it. --173.61.xxx.xx |
setting sale price (by Live The Dream [AZ]) Posted on: Apr 14, 2019 8:47 AM
Message:
Use replacement cost and income based apprasial. There are three kinds of appraisal, sales comparison is only one.
You can "sort of" use nearby cities and other non similar properties. In that land is land, square footage is sq ftge.
In the end you make your best guess and see what happens. --47.216.xx.xxx |
setting sale price (by NE [PA]) Posted on: Apr 14, 2019 8:59 AM
Message:
So hire a 3rd. --174.201.xx.xxx |
setting sale price (by Robert J [CA]) Posted on: Apr 14, 2019 10:24 AM
Message:
When I wanted to sell a duplex and four unit property I first got "free" lender quotes. From that I knew how much the buyer would have to come up with for a down payment. Based on that I offered a "Credit" in escrow for any "repairs" requested. This way they didn't have to put the standard 20% down.
In one case the "Selling" real estate agent was the buyers mother and she gave back 3% of her commission. I gave the seller a 2% credit for repairs and as a price reduction. This way the buyer only needed a 15% down. --47.156.xx.xx |
setting sale price (by Busy [WI]) Posted on: Apr 14, 2019 10:58 AM
Message:
I thought four plexus, and other multi-units were priced as a function of income stream? What are rents bringing in? Not just rents you think you’d like to get, but what you actually get. Some properties have almost zero value because the just sit vacant. No one rents in that area.
Kind of like the empty lots I see in my town. They will come on the market for four, five, six thousand, but , it costs more to build a structure on the lot than what can be brought in in rents. And the area is largely renter occupied, so those who would be owner occupants aren’t building there either. Those lots sit and sit, unless a neighbor decides they want it for lawn and parking.
Sorry, I don’t remember over how many years of rents Determines offer price on building. Maybe those who invest in large multis know that formula. --70.92.xxx.xxx |
setting sale price (by Deanna [TX]) Posted on: Apr 14, 2019 11:47 AM
Message:
In urban areas, the bigger multis around here are priced at gross rent x units x 12 months x 10. I have no clue who actually buys stuff at those prices-- probably big REITs that want to hold-improve-flip for profit over the course of five years-- but that's what their formula is.
In smaller cities, the smaller multis around here are priced at around $15-$35k/unit for the old 1920's-1940's buildings, and more like $75-$150k/unit for the new build that's under 20 years old, with the lower number being more of the stuff built in 2000-2005, and the higher number being more of the stuff built in 2015-now. --96.46.xxx.xx |
setting sale price (by Robert,OntarioCanada [ON]) Posted on: Apr 14, 2019 2:33 PM
Message:
Two factors effect the selling price which are the net operating income so a building that has separate utilities has lower operating costs so more investors are interested then the overall condition of the building. There is always a demand for rental buildings as long as the vacancy rate is low no matter where the building is located. --147.194.xxx.xx |
setting sale price (by Hoosier [IN]) Posted on: Apr 14, 2019 3:41 PM
Message:
Price it a bit high, see how much interest you get, and drop the price 5%/month if you are not getting any interest. --99.92.xxx.xxx |
setting sale price (by Live The Dream [AZ]) Posted on: Apr 15, 2019 12:27 AM
Message:
Busy - no, 4 plexes are often appraised by both sales comps and income methods, actually by all three, usually there will be a note regarding replacement cost, sq footage by whatever the local building cost is, $200 per sq ft or whatever. --47.216.xx.xxx |
Reply:
|
|