Recent content by luca_research

Include timing as well as amount. Work needed immediately competes with purchase cash; work that can wait affects the longer-term reserve. Two equal budgets can have very different practical consequences.

My practical next step would be to ask the broker for the assumptions behind the $3,866 rent and the 4.1% yield, line by line. Compare those with independent rental evidence and written cost estimates. If the resulting net return is still acceptable after a vacant month, turnover expenses and a...

I would make the completed sale the anchor and use the three listings mainly to understand the competition. The asking price is about $310 per sq ft, but I wouldn’t apply a single price-per-foot figure mechanically. Extra floor area often has a lower marginal value than the core living space...

There’s also a sequencing issue. First verify achievable rent and obtain buyer-specific estimates for tax, insurance, management and any association cost. Then model vacancy, turnover work, routine maintenance and capital replacements separately. Only after that should regulation or appreciation...

I’m less concerned with naming a particular acceptable net yield than with how fragile this deal looks. Even buying without debt, the gross income is modest relative to $1,135,000. If the investment only works when vacancy, repairs and insurance all land near the optimistic end, a slightly...

Ask each lender for the same set of figures in writing: rate, APR, all lender fees, payment schedule, balance at your chosen move dates, and any prepayment conditions. For portability, ask what approval or property conditions would apply rather than relying on the word alone. Then run a...

One missing detail: does “15 years fixed” mean a fully amortizing 15-year mortgage, or a fixed period attached to a longer repayment schedule? That changes both the payment and whether rate-reset risk exists. I’d also ask for quotes at the same loan amount and loan-to-value tier; otherwise the...

Keeping enough cash available was harder than choosing where to compromise on the apartment. My first purchase has now completed, and the building reserve position, immediate repairs, moving costs and late fees could easily have landed in the same week. The unsuccessful offers were still useful...

I’d add team size and typical transaction volume to that list. “Keep several parties aligned” can describe very different workloads. It would also be useful to know the software stack and what success should look like in the first quarter. Even brief answers would make applications more relevant...

Vacancy alone is not enough to answer it. I’d want to know whether it reflects poor condition, unrealistic rent expectations, awkward timing or something specific to the location. A buyer can negotiate around a fixable problem; unexplained vacancy may simply increase uncertainty. Compare...

I’d keep the rationale factual and short: time on market, uncertain completed comparables, and the cost of the visible updating. Don’t present it as a verdict on what the warehouse is worth. Financing proof and a flexible completion date make the lower price easier to consider. Keep inspection...

What is the tenant mix, and when do the residential and commercial leases expire? A single headline yield can conceal very different risks. One commercial vacancy or several turnovers close together could change the result substantially. I’d also want to know whether your proposed cash-return...

Ask each agent to describe, in writing, what happens from photography through closing and who performs every step. Give them the same sample situation: two offers arrive together, one with stronger financing but a lower price. Who qualifies the buyers, presents the trade-offs, contacts you, and...

Financing could be part of the split. Even without assuming a specific lending rule, a mixed-use property may not fit every buyer’s preferred loan or timeline. That reduces the pool compared with a straightforward residential property. Ask listing contacts whether failed or slow deals were about...

The agent’s argument is that one person working with both sides could keep the deal moving, but I’m not comfortable proceeding until the limits of that arrangement are clear. We have an early offer of about $390,000 on our New York new-build flat, and speed alone is not enough reason to accept...