My apartments in Tahoe are in a good area. The ones in a South Sacramento are like Stockton
16 unit and only 98k NOI? Rent only $600 per unit? Is it studios or 1 bedroom apartment?
Rent seems to be very low, comparable to Las Vegas or Salt Lake City
San tung wings are just like KFC junk food. Just cut it off cold turkey.
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I prefer two bedrooms. My apartments have 5-2s, 1 studio, 1 one Bd and a 3 bedroom house.
Ones and studios have high turn over.
For your south Sacramento apartment, do you rent to non section 8 tenants? Do you have collection and eviction issues?
Isn’t Reno better than Tahoe? Will never have rent control and Reno is a much bigger town with more diverse economy?
Too many houses in Reno? Over supply?
No section 8 in Sacramento. We insist on jobs and no criminal record.
Could be… but a hour and half away and hard to find even 5 caps. Reno rents have skyrocketed
Hehe not yet! Working on it 
jk
Hehe luckily the company machines can handle it 
I’m expecting to have rents at 950 per month once they are up to market, but I have estimate expense very conservative.
One of the biggest expenses is water and sewer, currently landlord pays for it at 1800 a month!
Part of expenses for computing cap rate?
16k rent is very good for 1.7M purchase
Yup, the current cap rate is with landlord still paying utilities, once I’m done stabilizing rents I’m going to explore doing RUBs and backfilling tenants, should add .5% to the cap rate
Thanks! This forum has been a favorite of mine for a long time
Sounds good. Make sure that Portland will not have rent control.
Every landlord needs to understand rent control fully
Asumming you are self managing? What’s your expense rate on your multifamily? .