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Question about looking at Cap Rates

I meant to say investors are being taught how to analyze properties incorrectly.

Question about looking at Cap Rates

Hello Everyone, there's this thing with cap rates (well checking for a properties true value) that I just can't seem to wrap my brain around and wanted to hear what some of you other investors thought about it.

OK. everyone knows that the properties value is based off its income (NOI) which I got that, and everyone knows you arrive at the cap rate by dividing NOI by the Asking Price which you get the cap rate at which the seller is selling his/her property at.

so my question is, isn't it a flawed pratice to analyze all deals off a 10% return/cap calculation? because basically to me there is no set true value even when both you and seller agree on the income the property produces.

Example....a property generating 100K and a asking price of 1.4M equals a cap rate of 7. But if I were to come along and analyze this property off of a 10% return/cap this property would look like its 400K overpriced (so whose right).

I know behind all this its based on the risk factor (lower return less risk, higher return more risk), so with that being said what particular risk factors that make you investors feel comfortable analyzing the property/deals off of a 10% return/cap instead of what the seller is asking for?

the point behind this whole thread is that I feel alot of investors are missing out on some great deals because they're being taught how to analyze them correctly, so they can't get a true sense of a deal or trash.

REO Opportunity for Private Lenders $1-50m

"No, but we do have 34 townhomes in so cal for 150 each (appraised at 250). We also have REO packages and other projects coming up. Lynn"

"If anybody is interested in a builder selloff of 118 homes in So. CA at around 59 or 60 cents on the dollar, please let me know. Appraised value is $62,104,353"

"we are joint venturing with a group who are direct to Fannie and Freddy. We can get great deals without all the daisy chains"

"James, you are right about it taking a long time to clear title and go through the process. We have done it before in 2-3 months but this timeframe is less because are going to asssign/flip this package to another buyer. We have bids on 15 other packages and expect to sell most of those as well and will have our hands full for a while"

"We are direct to Fannie Mae and Freddie Mac and have multiple bids out on packages without all the daisy chains/middle men."

"Bid accepted, we are taking down the package by the 17th of Oct. Will sell entire package of 838 homes for 5 million. Need to proof up funds by then. Contact me if have real buyers, thanks Lynn"

Lynn,

Feel free to answer the "other questions so we can all learn on this forum.

You went from 34 Towne homes, to 118 properties, to 883 homes in 13 states, to "joint venturing with a group who is direct to Fannie and Freddie, to "direct to Fannie and Freddie, no daisy chains" to soliciting investors for FIFTY MILLION DOLLARS, to "we have done it before in 2-3 months, to "taking down the 883 package on October 17 (7 day period from start) to "assigning/flipping the portfolio?

Gov contractors of Fannie and Freddie assets DO NOT allow flipping/assigning. Do not pass go, no get out of jail free card.

EXACTLY who is "we"?

Legal Business name?
Entity Type?
State of Registration?

What Title Company is clearing the assets?

COMPLETE disclosure and honesty is required in on line advertising of this nature, so I am SURE you will be VERY happy to comply, right?

REO Opportunity for Private Lenders $1-50m

James, you are right about it taking a long time to clear title and go through the process. We have done it before in 2-3 months but this timeframe is less because are going to asssign/flip this package to another buyer. We have bids on 15 other packages and expect to sell most of those as well and will have our hands full for a while.

Tax Assesments - The next ripple effect?

As property values go down, how great of an impact will the ripple effects be on the Cities, Counties, and Schools what were budgeting based on the property value assessments?

Am I being too picky?

The management co takes (is supposed to take) care of that. I don't have a copy of that contract. I was over there yesterday when the owner of the cleaning co came by. He couldn't see what I was talking about.
"The refrigerator's clean." (until I pulled open the door seal grooves, had him run his hand over the shelves.
He turned to the sink. These pans need replaced. Then he saw the TOP two, and said, "oh these are new. The other two need replaced." (He's right, I don't know what the PM had on the list.
Then he ran to the master bath, walked in and said, this is beautiful. You should have seen it before- it was a mess. He walked to the tub and said THIS was BLACK.
I said I don't know what you call black, but it's no different now than before you cleaned (last Tuesday)
I had a friend in on Sunday, and she remarked about how nice both baths were, and that the light bars, 15 years old, were used in her 3 yo house. She knows how clean it was.
He told me he cleaned the closet doors. He didn't. I did, and even did some painting on them.

He said at one point they did 9 hours of work, but wouldn't say what.
He said the PM told him to NOT do the windows or blinds, he said he objected because it was dirty.

Anyway, he got cought, and knows it. He's coming back on Tues and cleaning the fridge, two mini blinds, and the shower/tub. He;ll pull out the stove and clean under it. After he left, I got it pulled out part way, and it's not dirty under there.
As to the paint off the door jamb, "It must not have taken." The door guides were on the closet shelf, pushed back.

I learned a lot on this moveout. Now to put it into practice.
I also plan to lodge a complaint with the PM owner, and possibly file a BBB complaint. They need to pay for the cleaning of the windows and blinds, since they stopped it, and told him to keep the costs low. They didn't even go to the limit of the cleaning deposit.
The house is in Tucson, AZ, and will be for sale soon, Anyone interested? Actually, it was a really good rental for me, and will be a nice residence. It's a cut above my present place.