All Forum Posts by: Mike Kruser

Thanks Mike, i was a lil confused 200k 2flat with 10k taxes, lol crazy

Where do you add the Tax and insurance in at?

Cant go wrong with the Pump N' Dump on the Pennys *Booyah* lol

Thanks Guys,

So would I use the 50% rule off of the $2,700 or after I do subtract the P&I, so cut $1,400 in half?

The property is a 3 unit. each unit is rented for $900 a month which = ~$2700 of rent money, with tenants paying the utilities(Heat/AC etc.) The property is listed for $180,000.

Down payment: 10% (18,000)
P&I: $880
Insurance/Tax:$400
So that's around ~ -$1,300 now if i subtract $1,300 from $2,700 thats $1,400 in positive income. Now that %50 i dont really use that much because I will do the maintenance work myself and landscaping too

Tell me if the numbers are way off or close and sound like a deal?

Thanks a million!
~Mike

Ok lets say the asking price was $100,000, and the house needed some paint and thats it, and you think you could sell it for $120,000. 70% of ARV is off the 120k price or 100k?

Thanks, Mike

Ok so when you said "Here's an example: Let's say a property is worth $100,000 and needs $0.00 in Repairs. The investor tells you that they purchase at 70% ARV - rehab costs.

How much should the seller's asking price be? Your answer $70,000 "

You knocked 30% off the asking price? That seems high at all? Someone told me you take ~10% off, but i could be completely wrong

Thanks for the Info!

Looks like back to the stock market! Booyah! lol