Big Easy Real estate Notes
by Frank Rubi
Six Step to Evaluating Rent Rolls
In order to begin to look at investment property value, one should look at the rent rolls. The rent rolls should include at least the following information:
•1. Address of Units
•2. Type of Units: if they are 3 bedroom and 2 baths.
•3. Schedule of Rents: actual rent collect for the last 6 months.
•4. Other income: laundry room
•5. Lease or Rent terms: If tenant is new or about to move out.
•6. Deposit on Hand
At the act of sale this information plus all files, deposits and keys should be transfer. One quick way I evaluate rental property value is to look at the total rents. Let's say the property is for sale an asking price is 319,000. It is a four Plex. The total rents are 3350.00 per month. I take the $3350.00 and multiply by 1000. That gives me a value of 333,500.00. This at least let me know if there may be a value play as an investor. This is just the beginning. For more information on purchasing rental property call or email. I have purchase several properties over the years and will be glad to answer any questions.