All Forum Posts by: Anna Marcotte

 Hi, yes I agree I was purposely low balling! Realistically for 3/1.5 it would be 2400 in that area. When I used the calculator the analyzer suggested, it said “low confidence” so I did some research and asked around for a better rental estimate 

 Thanks for the reply!
1. For an older home, what would be a more appropriate % for maintenance and capex?  

2. I will keep that in mind while doing my analysis. I will be managing the property but I understand your reasoning. 

3. We have finally hit interest rate under 6% but I will have the confirm exactly where we are at. This is just the initial draft to get used to using the calculators. 

4. This is a duplex, not SF. This area of NJ is an up and coming artsy district, but I agree I’d rather play it safe with the vacancy rate. I’ll change it when I update the calculator

Thanks again for the reply!

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*This link comes directly from our calculators, based on information input by the member who posted.

How did my analysis go? I still need to reach out to the realtor in regards to any property updates that have been done/need to be done, especially since it's an old home. This analysis is an initial draft. Thanks in advance

 Thank you! I appreciate the advice. I’ve been trying to buy for the past year and have been getting antsy.

 I understand! Thank you for your input. I’d love to buy a duplex near me and live in it but my lender won’t approve me for the prices. Jersey shore is very expensive. 

Can you give me a brief example of a deal with a partnership where the return would make sense? As much as I’d love to do things solo, starting off with a partner would help me accumulate properties a bit quicker. 

Thanks! 

 They are having an open house tomorrow and I plan to go and ask that question to the realtor :) 

I would love to house hack but house hacking in the area of NJ I’m in is very hard. Average duplex cost is 800k and there are not many around. 

Partner would be splitting cost making each down payment 60k instead of me dishing out the full 120k. Along with splitting the costs if there was a vacancy. 

Hi! Great questions.
I would not be living in the property. It is too far from my job.  

I would not assume they would rent for the same amount, I did a low-ball rent estimate because I’d rather be on the safer side. 

I used the rental link that was supplied in the analyzer but the confidence stated “low” so I went on Zillow and Craigslist to average out the rental prices. If you have a different tool for more accuracy I’d appreciate the recommendation! 

I’m in the process of working with a partner for my first few deals. It would help me achieve more units rather than saving up 20% down payments each time. 

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*This link comes directly from our calculators, based on information input by the member who posted.

Tips would be appreciated. This triplex has two units that are 3 bed, 1.5 bath and a finished basement with 1 bed 1 bath. I low balled the rent, each unit bringing in $1800/mo. I believe I could get more for the 3 bed 1.5 bath units because on Zillow, the average 2 bed 2 bath apartment is in the $22-2600/range. 

I did not add expenses for utilities since they would be paid by renter. 

@mike yes I have ran the numbers. If I buy it at list price, it won’t work. I would have to buy it under list price (which 285k in need of this much rehab is pretty steep, even for jersey shore area). If I buy it under list price it’ll eventually cash flow pretty well. 

It’s all about what I can get the property for. Then the numbers I ran will work in my favor. If not then some other crazy person can buy this home for list price or over! Haha