All Forum Posts by: Amy H.

thanks cesar, seems like everyone tells me different numbers to use, hard to know. it is a lot of trial and tons of error. do you find homes right off of mls?

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El Paso, Texas

Leo, thanks so much for taking the time to respond. i really appreciate the advice and it forces me to think differently about properties. Up to this point i have be analyzing but have been hesitant to walk a property because i dont really know how to handle the agents because i feel like i am really green to real estate investing.i am going to work up some analyses of props and see where there might be opps for conversions etc. then i will go see them in person. i think i need to get out there. again, i appreciate the thoughtful response. i am learning...

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El Paso, Texas

Quote from @Chris Webb:

Hi @Amy H., DM me with a property and I will do a calculation for you and see if we get the same result.

Ok will send over tomorrow, thank you!!

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El Paso, Texas

Kevin, makes a lot of sense. I have been relying on the price shown.

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El Paso, Texas

Quote from @Russell Brazil:

Quote from @Amy H.:

i am brand new and have been analyzing to get used to the process. i put in 2% for taxes and 2% insurance, 7.5% for interest. 5% each for vac, cap ex, r/m and 8% for prop mgmt. i have analyzed props from $95K-$400k and nothing comes up positive. any recommendations? looking for my first purchase and want to do a rental. do you recommend single family or multi?

Sounds like youre over estimating about every single cost.

Would appreciate some information on how to get better numbers if what I am putting in his too high.

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El Paso, Texas

Quote from @Aaron Schrader:

With high interest rates, call around to some banks/direct mortgage lenders/mortgage brokers and find out what kind of deals are out there. I know of a 5.5% 10 year ARM right now that you could use, that could change if something cash flows or not. Look at homes that need working and fixing up and force the equity. Be patient, keep practicing deal analysis to the point that when you start to see the house price, you know if it works or not. In the meantime also start learning about rehab costs (if you might go in that direction). Establish a relationship with someone who has gone the road before you and ask if you can shadow them on a deal analysis as they walk a property. Or better still, FIND them a property (which means knowing what they want) and bring them the potential deal, with the understanding that you are looking for help learning this.

Aaron

Thank you so much for your thoughtful reply. I sincerely appreciate the information and I will definitely look into those recommendations.

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El Paso, Texas

i have put in actual numbers for dozens of properties. this is why i am asking for help.

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El Paso, Texas

All Forum Posts by: Amy H.

Amy H. has started 6 posts and replied 23 times.

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