Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 7 years ago on . Most recent reply

User Stats

240
Posts
130
Votes
Joshua Feit
  • Atlanta, GA
130
Votes |
240
Posts

Will this property ever round a bend?

Joshua Feit
  • Atlanta, GA
Posted

BP!

I have a quad -- have had it for three years. On paper, it looks like it's going to cash-flow, but it doesn't.

I bought it for $73,500, put 25% down, and financed the rest.

Rents are a total of $1,900 (475x4). Tenants pay utilities. I budgeted: 

700 for mortgage (PITI)
190 (10%) management
190 (10%) vacancy
190 (10%) repairs
190 (10%) CapEx savings
100 for lawn service. 

That's $1,560 a month for all expenses, including the mortgage all-in. So that should show a net of $340 a month.

It's an older property, and it keeps having maintenance requests. Nothing major, but enough that I am either just breaking even or losing a little every month.

QUESTIONS:

1) Eventually, once I have fixed most things, will this property ever start making monthly cash? Or with an older property like this, are there ALWAYS more maintenance requests than I anticipated?

2) If I am generally breaking even on this property after paying the mortgage, is this a keeper? Or does the string of maintenance requests make this one a DOG?

Grateful for your perspective!

Loading replies...