All Forum Posts by: Adam Departee

 There isn't one. I do believe I wasn't looking when I typed that. Thanks for the percentages you use!

Howdy!

So, I love Excel and building spreadsheets. About 6 months ago I started building my property analysis spreadsheet. I say started building because I am continuously working to improve it. In an effort to continue that process I would love to get some insight on what costs, percentages and other things everyone uses in their personal analysis. I currently take into account the costs/expenses

1. cost of borrowing
2. vacancy
3. property management fees
4. minor repairs and maintenance
5. property insurance
6. property tax
7. major repairs
8. rental insurance.

What am I missing? What are you using?

Thank you in advance for any input!!

I echo @Joe Splitrock in asking who is telling you a depression is coming? I would encourage you to educate yourself. There are many market indicators that you could watch to help give yourself an idea of the direction the market is heading in. 

I would be curious if any investors could speak to the impact that the recent recession had on the rental market. Did it hurt or help keep their properties rented? I’ve not had a chance to research the percentage of households that were renting at the end of the recession as compared to before to see if there might be a potential benefit to having rental property in a period of time when people are not buying homes.

Good luck with the first property!!

@Dylan Tanaka

Dylan, I would be so grateful to be added to your list. All the information I can get my hands on only helps!! I've sent you a message.

Thank you!

@Account Closed

John, thank you for the input! I am pretty nervous about the idea of something not in my market. The market I asked about is one that I have a few solid connections in if I wanted to handle the PM myself instead of hiring out a company. As for the cash, that's something I'm currently working on and definitely want to have covered in case of capital expenditures!

Thank you for taking the time to respond! 

Cheers

@Dylan Vargas

Dylan, thanks for the response. Money seems like it's one of those things not really thought through by first timers. Thanks again for the insight!

Cheers

@Mike Spica

I came up with St. Clair Shores, MI thanks to my little brother actually. He and his wife recently moved there (she is from the area) and purchased a house to live in. When he showed me what he got for what he paid I was shocked! Compared to almost anywhere worth living in California he paid almost nothing. Once I started my journey into REI that location has been where I have started looking. have someone there who can help me understand neighborhoods and properties through the eyes of a local is a huge help!

I would love to take you up on connecting. I just sent you a connection and message. Thanks!

@Brian Godlewski:
Thank you for the feedback about family and the management recommendation. I'll be sure to look those two companies up!

Cheers!

howdy!

I am so excited to officially be apart of this community and am excited to dive in and learn. I've been doing a lot of listening and reading (got my copy of "The Book on Investing in Real Estate with No (and Low Money Down today!) for the last couple of weeks and now have some questions. Looking forward to your responses!!

I'm looking at buying something in the Michigan area (specifically in the Saint Clair Shores area) to rent out and my questions are as follows...

1. Any recommendations for property management companies?

2. I love spreadsheets and would really appreciate links to any you like beyond the ones on this site. 

3. If you had a time machine that would let you visit yourself right before your first deal, what advice would you give yourself?

thank you in advance for any feedback!! 

cheers!