All Forum Posts by: Benjamin Blackburn

@Nathan Patterson thank you for that break down.  And yes, I do agree with you now.  Makes sense.

@Julie Haveman

Hello Julie, I have a question about Section 8... I saw that you said it was great.  Would you recommend for someone who is just getting started/looking for their first deal, get started with a section 8 property?  I'm assuming the cons to a section 8 are mainly just that they are typically in not so good areas and security/maintenance/safety might be issues.  

Any input would be amazing!  Thank you!

and good luck @Andrae Raymond, it seems like a good deal from the looks of it... if all the expenses are accounted for of course like a few mentioned.

@Nathan Patterson

When you say "pay yourself something" what exactly are you talking about?  Just a little confused when you say that.

@Vincent Crane Thank you very much man.

Ok makes complete sense.  Thank you very much! 

Thank you all for your insightful responses.  It really allows me to get a good feel of everything.  So, I have one more question and it might be kind of weird but here goes...

When it comes to the expenses that aren't getting paid monthly, where do those funds go?Are they just being stored in one seperate bank account?

Thank you @Account Closed thank you for your response.  I didn't think about collection loss. 

Hello everyone,

I feel like I should've been able to find the answer to this question by looking through the forums but for some reason I cannot find it.  So forgive me if it was right under my nose.

So, when calculating expenses is there a guideline that you all usually go by when it comes to the % of rent that is being used for certain expenses?  For Example:

Expenses

Property Management %?

CapEx %?

Vacancy %?

Maintenance %?

Ect...

Thank you all and Happy Labor Day!!!

awesome thread