All Forum Posts by: Almantas Buikus

Hi Rob.Thank you for reply. My numbers almost same like yours, ( I can pull ether 100% of my money, or leave very little) but after I add vacancies, capex expenses, maintenance fee  it will go down fast... Should I add capex or not, because it's actually newish condo, everything updated... I don't want to twist numbers just to feel good, but in reality loose money.  

Hi Brian.Thank you for reply. Up un till this point, my numbers almost same like yours, but after I add capex expenses, leaves me with nothing... At the same time,I questioning my self should I add capex or not (I think some people include maintenance fee in it, even if they manage them self) ,because everything is new and updated. That's where my numbers starts to go down fast. I don't want to twist numbers to make me feel good and fool my self, but I doubt I can find another unit in this area for that price... It's my first rental, so it's a little bit scary and unknown territory for me....   

Hi everyone.Need a little help here.I'm a reader, not a writer, but this time I decided to ask you for advice... Up until now I was doing flips (not many, but did few) and knew my outcome pretty good. But my last purchase (condo) makes me doubt should I sell or rent it, because is newer build and good location (near hospital, university and major highways).Tenants would be upper class... Don't have any rentals, but always wanted to go that road. Problem is, when I crunch my numbers,It's just doesn't make sense (in my opinion)... I wanted to do BRRR... I know, for many of you, who live's in midwest, is a no brainer, you immediately would say-no deal, but I would like to hear from somebody who lives in North East or somewhere with crazy high taxes.... Do I missing something, do you guys do something different or am I right and it's no deal? Here is some details: Purchase price, closing and repair cost combine 220k., ARV 285k-300k., taxes 5.650y., HOA 260 per month, rent is between 2200 and some rents for 2400, so I picked in the middle 2300 (it may be more, because everything will be new and renovated, but just to be on the safe side, lets say 2300). Like I said, would like to do BRRR, but every time I put numbers in calculator, everything is upside-down.... Because it's my first rental, better tenants, HOA (everything outside taken care of), I'm ok to manage my self... So, am I missing something, you guys doing something to make it work, or just plane and simple-it's NOT a keeper..? Thank you in advance everyone for your advice and help!

Hi everyone.Need a little help here.I'm a reader, not a writer, but this time I decided to ask you for advice... Up until now I was doing flips (not many, but did few) and knew my outcome pretty good. But my last purchase (condo) makes me doubt should I sell or rent it, because is newer build and good location (near hospital, university and major highways).Tenants would be upper class... Don't have any rentals, but always wanted to go that road. Problem is, when I crunch my numbers,It's just doesn't make sense (in my opinion)... I wanted to do BRRR... I know, for many of you, who live's in midwest, is a no brainer, you immediately would say-no deal, but I would like to hear from somebody who lives in North East or somewhere with crazy high taxes.... Do I missing something, do you guys do something different or am I right and it's no deal? Here is some details: Purchase price, closing and repair cost combine 220k., ARV 285k-300k., taxes 5.650y., HOA 260 per month, rent is between 2200 and some rents for 2400, so I picked in the middle 2300 (it may be more, because everything will be new and renovated, but just to be on the safe side, lets say 2300). Like I said, would like to do BRRR, but every time I put numbers in calculator, everything is upside-down.... Because it's my first rental, better tenants, HOA (everything outside taken care of), I'm ok to manage my self... So, am I missing something, you guys doing something to make it work, or just plane and simple-it's NOT a keeper..? Thank you in advance everyone for your advice and help!