All Forum Posts by: Ben Unger

Hello BP,

I have been stuck on this analysis for some time. Sell my primary vs. rent it as an investment. I am at the point to where these low interest rates are allowing a decent amount of cashflow if I refinance. My home has zero capex needed. (New Roof, A/C, waterheater).

Please let me know your thoughts - Link to the Analysis Report.

Thank You!

I am in the same situation, following this post. Is the BP Rental calculator suited for evaluating this type of conversion? I am unsure on if the ARV and mortgage terms need to be adjusted to current, or if I need to evaluate from day zero when I purchased the property 2 years ago. I have all expenses logged for an accurate analysis as well.

I second this question. Specifically looking for a brokerage that I can hang my license for personal investing. I have a W2 job and am evaluating brokerages that align with my investing goals.

@Jim Cummings great information!

I’m in offshore oil&gas and researching an investment strategy for these ever changing market conditions

Just looking at the standard items it does come around $200 funny enough. I had intended it to be a refinement tool to evaluate properties with a little more detail. Below is just a snapshot of that extension of my calculator.

@Cameron Tope Thanks for the clarification! I had been breaking down the nuts and bolts of Capex and am using a table in my analysis based on average life expectancy, cost of replacement, and estimating how much "life" is remaining for each item.

Saw this link from another post which helped:  http://www.safehaveninspections.com/life-expectancies.html

...In any case, don't mean to derail from Maurice's awesome deal.

@Maurice J. Congrats!

@Cameron Tope What are your assumptions behind the ~$200/month for capex? Also, is 16% around average for PM in Houston area? Seems higher than what I have seen in the forums.

Thanks!

I bought a primary residence for around market value (1st mistake) and have been living in the home for a little over a year. My company decided to move an hour and a half away this year, and now I am stuck with the decision to sell or lease out my home. It in a highly sought after neighborhood with great schools. One of the lowest priced houses in the neighborhood and good location. This would be my 1st rental. Should I lease it out or cut my losses/sell and look for an actual deal closer to work? Details of the home:

Purchase: $194,500

Year Built: 2008

Rehab: $5,000

ARV: $205,000

Market Rent: $1,600

Mortgage Principal/Interest: $780.43/month

Prop tax& insurance: $476.90/moth

HOA: $58.33/month

Flood Insurance: $34.58/month

Total expenses (above): $1360.25

This would only barely cover primary expenses (cash outlay: $239.75) and does not account capex, maintenance, pm, ect.

Is it worth the effort to have go through with it as a starter rental, if I manage myself?

Thanks! 

Have you located the nest?

The easiest way is to call pest control/bee removal companies and get someone out to locate see if the hive can be removed. Around $250 for an initial look maybe. Could be more cost if walls need to be removed ect. 

Otherwise, if your a DIY type person, buy a bee suit and do it yourself?

Thanks everyone, great information!