All Forum Posts by: Tim W.

NOI/cap rate - expenditures. Id value it on what the property is actually making, not what it could rent for (the 3 bed is vacant).

Numbers look good...You can always stretch it into a 20 or 30 year loan if you need to ensure positive cashflow.

 Fixed your quote...

@Matt Sicignano

Matt... Im not going to say Im only here to help myself but honestly Im not going to spend my money and time to help everyone else. Like someone said above, when cashflow is low, you can wipe out a years profit based on the mentality I should help someone else.

You need to find your local cap rate. Then take your NOI and divide by the cap rate. That should give you an idea. Subtract out cap expenses and deferred maintenance. The key is to see the numbers and see where you can fix the numbers. Expenses can just be high.

Are you buying the whole complex? If not, you really need to pay attention to the HOA fees.

Most do a conventional loan and use their money to slowly do the flip. You could also look into a 203k loan which will give you the money to do the flip in your loan.

Its interesting to hear they want to try and force it back to section 8 when it obviously failed. My question would be...why hasn't the property been tax auctioned or foreclosed by the bank?

I love the fact you can chose your own company due to competition leading to better pricing. That being said, I guess I shouldn't complain about my pricing.

That's a really interesting thought. I have never heard of third party trash collection outside of dumpster rentals or large pickups. That's being said, how on earth do they get away with that robbery. My trash bill for my house is $13/month here in TX with twice a week collection

I wouldn't doubt it. I live here in the DFW area and houses a few years ago that were $100k ($60-75K in the housing crisis) are now $150-160k. High end houses are going up like crazy.