All Forum Posts by: Alex Polonsky

@Tony Mai Thank you so much for the feedback and the clarifications. Will keep looking and factor in 25% and 2% for closing.

@Eric Adobo The cap rate is very low however the potential cash flow is $400. Other properties with 5-7% cap rate, in Phoenix have a much lower cash flow, barely hitting $100 from a fourplex. Gotta keep looking, you're right though, this is not a good deal. I got excited  

Overall, i agree with you guys about the studio being a much bigger pain than what it's worth, and the seller is factoring in the studio payment as $500, into the overall rental income, which is technically incorrect since its not bringing in any value right now.

I will keep looking, thanks all

Hey all, thank you very much for all the input! 

@silo Hey, actually it is not, it doesn’t have an address, I need to contact the city and see what I can do. This neighborhood can get me a cash renter easily, lots of lower income renters there, it’s a C class neighborhood, just surrounded by great city structures, making it more interesting. 

Thank you for the question! I will reach out to the city and see what I can do to get an address and make it official, cuz without that studio, the cash flow would evaporate haha

Hello everyone. I am looking for some constructive feedback regarding analysis of my first duplex property, it has a potential studio in the back that has been factored into the monthly rental for $500. I have to go into escrow to be able to get my inspector in there. I drove the property and it is in a great neighborhood. Police station, science museum, historic downtown area and lightrail(above ground subway) are all within a mile radius. Currently occupied. $700/month x 2 two bedroom units and that studio in the back. More details in the attached report. Cap rate is super low, 2.95% compared to 5-6% in other areas but with worse conditions. I understand the expenses can increase but i've included minimum. Attaching screenshot of the BP report I

ran.

Hi Shiloh. Just listened to the BP podcast with you, such great information. Excited to meet you in person!

Hello. I am planning to attend. If something comes up, I'll drop a line here.

Hey all, New member here, in Chandler, AZ. Own one home and just signed on a second for a tiny profit. Looking forward to meeting like minded people around the AZ towns for educational and business relationships. Just wanted to give a shout out here, per Brandon’s suggestion :). Thank you, Alex P