All Forum Posts by: Ashley W.

Thanks for the reply Steve it's nice to know I'm getting the numbers right! (trying out my newly learned skills, lol) I completely agree with you that it is important to know your market as I'm trying to learn mine right now.

Also it meets the 50% rule.

30 year mortgage at 7% is a payment of approx 323.

925 rent - 462 (operating expenses)= 462;

462 - 323 (debt service)= 139 cashflow.

In my (newbie) opinion I would say buy it. Total cost (purchase + repairs) is 49,000, that is approx 64% of ARV, less than the recommended max of 70%. Also the gross rent of 925 is 1.88% of the total cost which comes very, very close to the recommended 2% rule (gross rents should be at least 2% of total cost). To the other experienced investors out there am I analyzing this correctly?

One, no, part of one, before I realized that wasn't gonna happen. I would like to hear about this group you have in mind.

Hi all, newbie from AL here. I am a 35 year old former restaurant and convenience store manager. I would like to become a buy/hold investor (landlord) of SFHs, most likely in lower income areas (self managed) in the next few months. I have read many books on RE investing and have been looking, reading and learning so much here on BP. So far I have read all posts in the "Starting Out" section and am beginning to read all posts by those whose advice seems practical and whose focus seems to be similar to my own. I have recently ordered MikeOH's book and a set of 12 Carleton Sheets CDs that I found on ebay. A big Thanks! to all that I have already learned so much from and I look forward to hearing from and sharing with everyone else here!