All Forum Posts by: Edwin L.

@Gorden Lopes, How often do you meet up?  I'm in the SF area too.

Hey folks, any recommendations on wholesalers and reputable contractors in the Huntsville area? Thanks!

@Cedric Van Duyn valuable information there.  Right on!

@Cedric Van Duyn, seems like the PM is not selecting quality tenants with all the turnovers.  I think you are to nice.  I hope your investments stabilize and start raining cash-flow!  

@Tom Ott, I will take a look at those areas.  Right on!

@Jeff Wagner, sure..here you go.  Still on the hunt and looking for more. What do you guys think?

$186,500 Purchase
Stove/Dishwasher included, negotiated for a new refrigerator and sod.  1 year warranty and 10 year warranty on structure.  $1,300 on mini blinds. $450 tenant placement and $100 setup fee to the PM. $350 for property inspection.

$  41,800 - 20% investment which includes closing cost (Lender credit of $1,500)

$1,750 Rent
$   800 Mortgage 
$   114 Property Tax
$    42 Insurance
$   175 Management Fees (10%)
$    70 Vacancy (4%)
$    67 Maintenance (4%)
+$482 Monthly Cash Flow Overall about 13-14% CoC

@Cedric Van Duyn, one other thing, since you purchased all turnkeys, I'd of thought there be minimum repairs if any, especially during the first few years since the provider rehabbed the properties.

@Cedric Van Duyn Those are the same areas I'm looking at.  However, I'am considering Lees Summit, Grain Valley, and/or Blue Springs.  My thinking is higher rents will get me better longer term tenants.  But it seems like the good properties are all getting snapped up quickly.

@Cedric Van Duyn, sorry to hear about your situation and I do hope it improves.  Can I ask which parts of KC did you purchase in?

@Tom Ott, thanks for the information. Is it possible to pick up SFH in "B" class neighborhoods and meet 1.5%+ price to rent ratio? Again. thanks!