Wish Ben Leybovich Happy 40eth Birthday...

[Ben Leybovich]

That's right, guys - the Big 40!

**** hurts that I didn't know I had.  Kids are still young.  My works in life are nowhere near being done.  I've got more headaches than ever before.

And yet, statistically - I've got more time behind me than ahead of me!

As now a senior member of this community, I've got a few pieces of wisdom for you today:

1. Take action NOW!

2. DO it NOW!

3. Do not buy $30,000 pigs :)  When you get old (like me), you'll thank me.

Let's have a good one today. I'm due to receive the appraisal for my 10-unit that I bought for $373,500. I ran the numbers 2 ways: at 10 Cap and GRM 78. I included CapEx into pro-forma. Came up with value of $460,000 at 10 Cap, and $473,000 at GRM 78. The appraiser said they typically use 9 - 9.5 Cap for assets like this one in Lima. 9.5 Cap would valuate this thing at $484,000.

Put down $5,300 when closed / Made $3,000 CF in 2013 / Made $12,000 CF in 2014 / Aiming for $16,000+ in 2015 since this refi alone will lower my Debt Service by about $2,000.

My liability after the refi will be around $355,000.  Which means that I'll stick $100,000+ on my balance sheet and $16,000+ of CF on my financial statement in 2015.

OK - this wasn't $0.  This was 1.5% Down.  but, not bad...I think

Wish me Happy Birthday now, @Joshua Dorkin  - I am happy and proud to be part of the BiggerPockets community.  Where were you when I was taking hits out there a decade ago.  I've made friends here for life!  And even found a girlfiend, @Brandon Turner ...

Take Action NOW y'all!

[Account Closed]

Happy Birthday Ben. 

I have an offer for you on your 40th birthday. I'll reimburse your 1.5% deposit on the deal. You know what? Because you're special, I'll double that as long as you agree to send me one half of your NOI on the building.

Now you can brag to everyone that you bought a 10-unit building with no money down. In fact, you even put $5.3k in your pocket, have $100k+ in equity, and $8k/year in cashflow. Deal or no deal? :0)

Again, Happy Birthday.