All Forum Posts by: Aamir Shah

You guys are awesome thanks.

@Derek Kirkwood the math is based on a 20% down mortgage . The 1800 annual utilities are named poorly above (as maintenance). I did 12% prop management because there is a fee to place new tenants and that can really eat up profits (usually costs one month rent on top of the 8%)

@Brent Coombs good points. I have yet to find 100/m per door unless I am going to C-D areas, I guess I need to keep looking

@Tommy Spijkers also good points. When I buy homes in California I always consider school district - maybe I have to get out of this mind set. Do you know which areas in Dayton are good for rentals. I really just want low maintenance tenants who dont smash holes in my walls in anger over an eviction

@Nathan Rude yep I think there was a price drop also (used to be $160something)

@Matt S. yep still doing research at this point. Looking into KC, Dayton,  syndication and even local California investing. Looked into a few turnkey companies, and so far there hasnt been a deal that has been really good. When you start to factor in capex, the fact that you have to pay a months rent every time a new tenant comes in on top of the property management fee, plus vacancy, property taxes, etc etc the numbers just dont look appealing. 

Hello BP members!

I have been eyeing some 4-plexes offered by a turnkey company in Dayton. 

Here is an example of one:

514 Wiltshire Blvd, Kettering OH 45419

Its 4 1bd/1ba rooms

I want to get everyone's opinion on how good a deal this is. I would be responsible for water, trash and yard maintenance. Turnkey company assessed this cost as 1800 a year. Is that too low? Here are the numbers I crunched. 

Note quite 100 a door, but appealing to me given the good school districts and location. 

@Mike D'Arrigo I do agree KC is a great place to invest. I am seeing really good SFH deals, but struggling to find MF deals. Seems those MF deals get eaten up by investors too fast. Mike - I'm curious where would you recommend a good place to look in KC for A - B areas with stress free tenants. I have been eyeing Independence and Lee's Summit. Anywhere else you would recommend?

Thanks all for the very useful info

@Michael Hastings @Darrin Carey @Tommy Spijkers I will PM you thanks for the info. Will definitely fly up to Dayton once I feel confident that it is the market I will choose. I am currently looking just at Kettering which seems to have great school districts and am seeing properties that meet the 1% rule and can cash flow at around 100-300 per door. Seems like a headache free environment with good demographics based on my initial research. The downside is there has been almost no appreciation in the market and rents have only begun to rise recently. Would love to pick your brain to get some more insight!

@Andrew Syrios Thanks for the link, definitely saw that article and will definitely follow your advice. I would love to invest nearby, I just havent found great options yet for buy and hold in California. My nearby areas of consideration are Riverside, Bakersfield and 4 hours away is Las Vegas. There are deals there, just not seeing the cash flow I am looking for (ideally 200+ per door in a good neighborhood with good schools using the 50% rule)

@Dean Harris Thanks for the advice. I have briefly looked at Memphis, I am mostly afraid about investor saturation in that market. 

Hello everyone!

I am a software engineer at Amazon looking to diversify some of my investments into real estate. I have become obsessed with learning everything I can about real estate through biggerpockets. Currently I am looking to invest in buy and hold properties, biasing towards small multifamily.

The two areas I have been looking closely at is Kansas City and Dayton, OH. I am leaning towards Dayton at this point as it seems more untapped than Kansas City. The other option I am entertaining is syndications. There are so many choices, I just need to choose one and stick to it!

Anyways, looking forward to learning more and connecting with like minded people.

@Ali Boone

Its hard to say how A class it is since its still being rehabbed. In a more appreciation based market, better schools than most of KC. Tile kitchens and baths, carpeted living spaces and bedrooms. New cabinets, granite countertops, tile backsplash. 506 NE Weather Vane St is the address from USREEB. 

@Alex V. see my response to Ali

@Account Closed thanks for the advice. I definitely havent factored in taxes yet, but I think I can come close to breaking even from all the expenses of property management, tax, travel, etc. I will update my spreadsheet to try and auto calculate how much income is taxable thats a great point. I agree 200 dollars margin is tight, but I am struggling to find better. I can get better if I buy in a D/C class neighborhood but I am really looking for more of a passive investment with better income tenants. Im not sure I want to deal with drama for my very first RE investment.

@Sunitha Rao good advice. Ill have to find out what the property managers are charging with the turnkey companies I talk to. 

Thanks all for the advice. Is a 200 dollar margin really too low for a A/B property?

@Ali Boone

Thanks @Jody Newman also ran it by hotpads and zillow and 1400 seemed reasonable. 

@Matt K. curious why you ended up skipping that property on the same street. Did you get a chance to visit and take a look over there?

@Matt K. The turnkey company would sell it with a tenant and property manager in place generating income. So it would be cash flowing 1400 from day 1. 

Hello, 

Real estate investor noobie here. I have been eying this property and wanted to run the numbers by you to see if this is a good deal.

Things to note:

Address: XXX NE Weather Vane St, Lees Summit, MO 64063

Class A property 

Turnkey

3 beds 2 bath 1,090 sqft

I tried to be conservative on the numbers, but this is a turnkey. What throws me off here is the cash on cash is relatively low at 6.85%. Does this make it a bad deal? Seems right on track with stock market margins. Cash flow of $192 seems pretty good and theres some chance for appreciation in this area. 

Any advice is appreciated (no pun intended) :)