All Forum Posts by: David McBrayer

Thanks a million @John Caldwell.  That was short and sweet and what I needed.  Thank you for taking the time to answer my question.  Keep up the awesome work!!!  Sounds like a good deal for the one holding the leases. 

David

Thank you @Aloma Yiannett.  I am checking out the workings of the site and all the great info on here.  It is nice to have a forum to ask like minded people your questions.

Keep up the great work and thanks for the reply.

David

Hello everyone.  Newbie David here.  I need to ask a question and I bet there are people that can jump on in and tell me this information.  I could look it up but I thought I would just ask the question in here.

I see ads for properties that say Triple Net or Net Net Cash.  Can someone please give this Newbie a little help on this?  I am going to read several of the articles or post on here and see what they say, but I thought I would just ask the community.

Have a great weekend and thank you all for your help!!!

David

Thanks @Mark Nolan.  I am new to the site but I have been digging around it already and found some useful tools and information.  Keep up the great work and thanks for the reply. 

David

Thank you @Doug Merriott,  I knew there was more to it.  I will take some time to look at what you came up with there.  I thought about a cash deal.  I would plan on holding it for a while.  Like take it to the grave with me. LOL.  My thought was, and by looking at your reply, it is all wrong, but I sort of thought at $42k or $45k and it being concrete block that is ran well, it would be easy to rent out as it is in a good location.  The size of them is nice.  OH it has split floor plan on the bedrooms.  All our other properties are free and clear.

I think the cash deal would be the way to go on this.  I would like to pay on something  to improve my credit.  I have paid cash for so long my credit is hurting from it.  They say pay someone. LOL

Thank you for your advise.  I will look into your formula.  Keep up the great work!!!

David

Hello everyone, David here.  I am new to rental properties and I could use some advise on how you figure out if a property is going to make money or not?  I am quite sure I am missing something and I am sure what I think looks real good, might not be that good after all.

I would like to run something by everyone and see if I can get some input.  Once I see how others do it, I will be able to figure it out.  I am sure there are plenty of different ways and I am interested in hearing about them.  Then finding a private lender, partner or financing.  

Here is the property I am looking at. It is a 2bd, 2 bth condo around 1134 sq ft. It is a concrete block building built in 1984. It is well maintained and has a $230 monthly HOA fee. The property is kept in nice shape with the pool and club house located down by the private lake and has a nice view of it. Plus there is a dock with benches. The condo is centrally located and close to the local college and LegoLand. It is about 45 to an hour from Tampa or Orlando. I think I could pick up the property for about $42k to $45k. The expected rental price is around $850 to $950 a month. Taxes about $560 a year and insurance around $800 a year. The condo is in good condition and needs minimum work to get it ready.

With that information, could you do a good analysis of the property?   I said I was new to rentals and make sure I put good deals in front of lenders.  I do use a property management company for that reason.  So I better figure that in there.  See I knew I was missing something. LOL  Thank you for your help!

Next question will be on property management companies and their fee's?  What is the standard?  Thanks for your help everyone!

David

Thank you very much for the information Dmitriy,  I hope to connect with some people around this area and from all over.  Anyone that can help.  It does not matter where they are from.  We are all in the same boat.  Well kind of. LOL  I do want to find out about the different finance options out there.  I am ready to get started investing.  Again, thank you for the info.  I wish the best for you!

David

Hello from Winter Haven, FL.  We have just purchased a 3-2 house on Lake Howard and a 3-2.5 Townhouse on Lake Hartridge.

We are looking for more properties and with Legoland being in Winter Haven, FL.,  We have thought about doing a vacation rental.  The ones I have looked at online in my area do quite well.  Much more than what our house would rent out for the year, they are doing in 3 months.

We hope you have a ton of success to share with us.  Keep up the great work!

David

Hello everyone, David here from Pompano Beach Florida and Winter Haven, FL.  I am brand new to this site and pretty new to real estate investing.  I have had some properties in the past but they were to live in.

A car wreck a few years ago made me disabled and now I collect a SSDI income.  I am looking in invest in the Winter Haven, FL area and hope to network with some people from that area.  I was born in Winter Haven and have family members there so I know the area pretty good and some contractors for repairs.

When I am looking at a rental for a potential purchase, I like concrete block condo's or houses myself, what about you?  I am interested in learning more about the financial options out there, as I want to invest in a few condo's I have my eye's on. 

I would also be interested in learning about partnerships and funding for investment properties under $50k.  In Florida it seems hard to get financing for anything under $50k. 

Looking forward to meeting some of you and building a network of like minded people.  People that may have more experience or in the same boat.  Due to my disability, I got some time on my hands to handle things and I use a property management company on the properties we have.

Thanks for reading this and I hope we can connect sometime.  Always open to learn new information about real estate investing.

Have a great weekend,

David McBrayer