All Forum Posts by: April Lee

@Chase London I run into one as well. I'm going to do my due diligence as well. How was yours turned out?

Hi BPers, anybody have a good constructor to recommend in chittenden county? I found a property I like a lot and it needs some work. I have not done any remodel before, just little DIY project at home. I'm interested in long term investing and Vermont is definitely one of the market I want to be in as I live here. So it'll be wonderful to start building relationships. Anything from you will be very much appreciated. Thanks a lot.

@Martha Nowlan thanks!

@Peter Amour good point! Thanks for sharing!

@Gordon W Miller i wouldn't tell you that i came to vermont as a non-coffee-drinker, non-maple-syrup-taker, non-beer-drinker. And now i'm happily the opposite!

@Mike M. Good idea!

@Gordon W Miller Thanks. The follow up question is that what is a good cashflow? For example, I got a 3b1b sfh in mind that asks for 275k, if downpay is 35%, interest rate 5.375%, closing cost 8250, inspection 500. If i plan to rent it for 1900 with 3% vacancy, the property tax is 368 from the tax bill. I plan 100 for trash, snow and water. Another 100 is for maintenance. Home insurance 65 per month. Property management with 75% of one month's rent (tenant finding only). Considering the income tax i need to pay after deducting all the operating cost from rent revenue, plus the depreciation. After i did everthing, the cash flow is 90 per month or 1.54%. Is that normal? Where did i go wrong?

We did our calculations on cash flow, the best is around 3%ish after tax and depreciation. We are just new to the market, but seems like even for the most popular Burlington area, home appreciation is rarely more than 3% per year. As flipping and airbnb/VBRO not an option for us now, what could be a good way to start RE investment? All opinion will be very much welcomed. Thank you so much.