All Forum Posts by: Alberto De jesus

Hi,

I'm looking for recommendation on company in Massachusetts that offer self directed IRAs. I'd like to roll over some of my traditional ira into a self directed one. Can anyone suggest one? Thanks.

Hi @Flavio Zanetti I'm investing in Lynn. Working on trying to get another property. 

Thanks @Kevin Siedlecki. That article was helpful.

Hello,

I'm attempting to calculate monthly cash flow on properties in low income areas in Massachusetts. I am struggling if I am putting the correct amount of money aside for monthly maintenance and big ticket repairs. Must houses I will buy are early 1900s. 

I am putting aside 10% of rent for monthly repairs. I also am putting 10% for future big ticket repairs, like a new roof.

Do those numbers seem right?

Does the lease you have with them specify when the rent is due and what happens if they are late? Do you feel as though you have trained this tenant to pay on time or do you think they are taking advantage of your good grace?

I don't think any tenant tenant that pays me late is good. however, I have set a clear expectation of what happens when I don't get rent. An eviction. 

If the property is in an area you don't feel safe going to at night, you might want to pass buying it. You can fix up a busted house. You can't fix up a busted neighborhood.

I am too much of a stats nerd to find the 2 % rule to be useful. It's worth the time plugging the numbers in a spreadsheet or the bigger pocket calculator to see whether a deal should be considered.

Oh man. That must have been frustrating. Thanks for sharing.

People are hung up with you need to buy a distressed property in order to have a " good deal". It does not matter whether the owner is distressed or not. 

If you can get the following it's a great deal:

1.) $100 - $200 in cash flow a month per door after operating expenses (taxes, mortgage, capEx, property management, etc)

2.) Property is in good shape

3.) Property in good location

4.) Firm exit strategy

5.) Best use of available financing (Seller financing, cash, conventional loans, hard money, etc)

However, it is rarer to make this happen with non-distressed property. Rarer but not impossible.

I am definitely going to this.