多单元学生房----值得投吗？

来源: xhjaer19721 于 2022-01-11 22:36:52 [] [旧帖] [给我悄悄话] 阅读数 : (2420 bytes)

各位大佬。 尽请指教。

8 units apartment building, totally 24 bedrooms with 24 bathrooms, currently rented by rooms---so totally 24 leases. Near a major university campus. Asking is about $1.5 million. Rent is $595/room including all utilities and internet.  $595/ room x 24 rooms = $14280/month. But utilities paid by owner is about $2000/month. 

1. Conditions pretty good. Built around 2006 and current owner did some renovation in 2019 with all new appliances/ flooring etc. There are a few deferred maintenance but not much. 

2. Current management company sucks. Right now there are 3 rooms vacant, 3 tenants owe more than $2000 (rent due), and another 3 tenants owe several hundreds.  Current rent collected is around $11000 --- $12000 per month. 

We have 15 years experience dealing with student housing. We think we can turn it around after taking over.

3. Rent has more room to go higher after active management. 

Two questions:

1. We lives about 80 miles away from the property (about 1.5 hours drive）。We plan to go there twice per week to manage the property at the beginning. After bad tenants kick out and good tenants move in, we expect to go there once a week. Is that practical? Since conditions of the property is not bad at all, main issue is to evict bad tenants and look for good ones, we think. Maybe we somehow under-estimate the work involved.

What do you think?

2. The property is not on the MLS. We have RE license and can act as buyer agent for ourself. Should we ask the listing agent the commission split or simply ask listing agent as our buyer agent? The market is pretty hot locally, but the property was on the market for 2 weeks unsold. Normally buyer agent's commission is around $35k.  Right now It's hard to negotiate down the price with the sellers. 大家觉得应该去争取这个$35K的 buyer agent's commission 吗？

Listing is not on the MLS. Clearly the listing agent does not want to share commissions with the buyer agent. Even if we act as buyer agent for ourself, is that still legal for them to pay no commission to buyer agent?

Thanks for your input! 

 

 

 

 

所有跟帖： 

• 管理过比这个大的类似公寓，谈谈我的看法 -老朽- ♂ 给 老朽 发送悄悄话 老朽 的博客首页 (576 bytes) () 01/11/2022 postreply 23:11:59

• 非常谢谢老朽的建议-----很有帮处 -xhjaer19721- ♀ 给 xhjaer19721 发送悄悄话 (895 bytes) () 01/12/2022 postreply 00:02:32

• 请问on-site manager 如果做维修，每次维修费用另算吗？ -枣核- ♀ 给 枣核 发送悄悄话 (0 bytes) () 01/12/2022 postreply 10:46:01

• 另算 -老朽- ♂ 给 老朽 发送悄悄话 老朽 的博客首页 (0 bytes) () 01/12/2022 postreply 11:11:33

• 24个卧室，24个厕所？这个修的有点诡异，每一个卧室都是主卧。每一个unit 接近20万，我觉得贵了，按照这租金 -tallcuterich- ♂ 给 tallcuterich 发送悄悄话 tallcuterich 的博客首页 (0 bytes) () 01/12/2022 postreply 00:45:00

• 8 units (3 bed/ 3 bath for each) -xhjaer19721- ♀ 给 xhjaer19721 发送悄悄话 (553 bytes) () 01/12/2022 postreply 00:58:42

• 这个修的很高档。我一般是把学校周围的房子买下，算部重做。租金和你差不多，600一间。每个units便宜一点。不过市场不一样 -tallcuterich- ♂ 给 tallcuterich 发送悄悄话 tallcuterich 的博客首页 (0 bytes) () 01/12/2022 postreply 01:07:00

• kind of high-end -xhjaer19721- ♀ 给 xhjaer19721 发送悄悄话 (811 bytes) () 01/12/2022 postreply 01:36:37

• above has wrong equation. property appreciation= $10800 rent inc -xhjaer19721- ♀ 给 xhjaer19721 发送悄悄话 (0 bytes) () 01/12/2022 postreply 01:40:45

• yes -xhjaer19721- ♀ 给 xhjaer19721 发送悄悄话 (101 bytes) () 01/12/2022 postreply 01:42:21

• 1.5米，24units，应该是每个6万多，很合算啊 -品酒- ♀ 给 品酒 发送悄悄话 (0 bytes) () 01/12/2022 postreply 06:01:36

• all utilities are included in the rent -xhjaer19721- ♀ 给 xhjaer19721 发送悄悄话 (291 bytes) () 01/12/2022 postreply 08:06:00

• 我做很多学生房。好处是利润大，按卧室出租。坏处是每年搬进搬出。你隔这么远，turnover麻烦 -tallcuterich- ♂ 给 tallcuterich 发送悄悄话 tallcuterich 的博客首页 (0 bytes) () 01/12/2022 postreply 00:52:00

• Yes. This is our biggest concern. Thanks for reminding! -xhjaer19721- ♀ 给 xhjaer19721 发送悄悄话 (0 bytes) () 01/12/2022 postreply 01:01:30

• turnover rate is 50% or higher for student housing -xhjaer19721- ♀ 给 xhjaer19721 发送悄悄话 (286 bytes) () 01/12/2022 postreply 01:20:22

• 这是最近在坛子上看到比较好的一个deal，想多探讨一下。要不是管理上出状况，不应该卖这么便宜。如果有能力 -老朽- ♂ 给 老朽 发送悄悄话 老朽 的博客首页 (1129 bytes) () 01/12/2022 postreply 03:25:31

• 谢谢老朽的鼓励，提携和经历分享 -xhjaer19721- ♀ 给 xhjaer19721 发送悄悄话 (72 bytes) () 01/12/2022 postreply 07:41:32

• 路段好，有客源，可以投 -密码忘记了- ♂ 给 密码忘记了 发送悄悄话 (53 bytes) () 01/12/2022 postreply 03:56:03

• Thanks!! -xhjaer19721- ♀ 给 xhjaer19721 发送悄悄话 (0 bytes) () 01/12/2022 postreply 08:17:39

• 你租给本科生还是研究生？有很大区别。如果学生素质高，一个月去看一次就可以了，找个当地Handyman -AMYMINT- ♀ 给 AMYMINT 发送悄悄话 AMYMINT 的博客首页 (0 bytes) () 01/12/2022 postreply 04:34:21

• Target graduate students and Junior/seniors -xhjaer19721- ♀ 给 xhjaer19721 发送悄悄话 (743 bytes) () 01/12/2022 postreply 07:52:56

• 你已经有一些经验，做自己熟悉的事，事半功倍。 -AMYMINT- ♀ 给 AMYMINT 发送悄悄话 AMYMINT 的博客首页 (0 bytes) () 01/12/2022 postreply 08:06:26

• 我看到都头疼。我最近也看到类似的，没敢上。 -rapidestate- ♂ 给 rapidestate 发送悄悄话 rapidestate 的博客首页 (0 bytes) () 01/12/2022 postreply 05:10:17

• 我做过学生房，那时做的头大。提个醒见内 -ww7788- ♀ 给 ww7788 发送悄悄话 ww7788 的博客首页 (619 bytes) () 01/12/2022 postreply 06:00:06

• 谢谢提醒。 -xhjaer19721- ♀ 给 xhjaer19721 发送悄悄话 (477 bytes) () 01/12/2022 postreply 08:00:32

• 觉得还不错。以后新签合同让房客分担电、气、网费。基本不影响租金 -排毒灵- ♂ 给 排毒灵 发送悄悄话 (0 bytes) () 01/12/2022 postreply 08:38:00

• 你是建学生房的高手 -xhjaer19721- ♀ 给 xhjaer19721 发送悄悄话 (608 bytes) () 01/12/2022 postreply 08:57:15

• I do not provide furniture. but provide option to provide a twin -排毒灵- ♂ 给 排毒灵 发送悄悄话 (0 bytes) () 01/12/2022 postreply 11:45:00

• option to provide a twin size bed with extra $25 rent each month -排毒灵- ♂ 给 排毒灵 发送悄悄话 (0 bytes) () 01/12/2022 postreply 11:46:00

• 谢谢分享。 好像关键字老兄的学生房是提供总套家具的 -xhjaer19721- ♀ 给 xhjaer19721 发送悄悄话 (0 bytes) () 01/12/2022 postreply 15:11:41

• 难得看到讨论学生房的，我说说我的做法，我其实是学学生房起家的 -tallcuterich- ♂ 给 tallcuterich 发送悄悄话 tallcuterich 的博客首页 (29 bytes) () 01/12/2022 postreply 14:05:22

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