All Forum Posts by: Blake Morgan

Great info, thanks! The redfin post didn't say cash only unless I missed it somewhere, is that from the MLS? Darn - don't have 110k in cash easily available.

Thanks for taking a look John. I'm not a flipper, just buy and hold. Since it's tenanted I'm wondering how bad it can be? It can't really be unlivable unless the previous owner is breaking the law. Maybe the tenant destroyed everything? Either way, hard to imagine 40k worth of damages from a tenant..

I found this listing for 110k in Greenwood, 4 bedrooms 2.5 baths 1802 square feet - tenant occupied. (https://www.redfin.com/IN/Gree...)

Most comparable homes are going for around 40k more than this - what is wrong that I'm not seeing? 

Hi everyone,

I haven't seen many long term Roofstock reviews so I made one on Youtube. It's not nearly as professional as some stuff on Youtube but hopefully it gives you a sense of how I liked the process and am happy with the results.

Link: https://youtu.be/-wRhp4TfTO8

Wow, that's aggressive! I'm not sure I'll be able to replicate what you did but advice noted. Kudos to you for making it happen.

Crazy good news for Greenwood. These are legit tech jobs which gets them out of their logistics only business state. Article with details below. Is anybody able to find decent SFHs under 140k anymore there? I’m having trouble.

http://www.dailyjournal.net/2019/05/16/cummins-to-expand-in-greenwood/

Alina,

From what I've read from local government interviews/statements, Greenwood alone doesn't have enough workers to fully support the new Amazon center. People will need to commute from other areas. I figure more people going through Greenwood will increase the demand for services there. Amazon also pledged to improve the local infrastructure. Seems like a good win for Greenwood. Honestly when I bought my property I was expecting zero appreciation except maybe matching inflation. I had no idea about Amazon's plans and my property happens to be just 7 minutes away. I should go act like I knew what I was doing on Youtube and become a guru for ad revenue. ;)

Hi all,

I own a property in Greenwood and have been looking to buy another. With Amazon moving in and setting up a new facility in 2019 do you think I should act now? Or do you think this won’t have a noticeable impact after it gets up and running?

Thanks!

Hello,

I have been considering entering into real estate investing for both diversification and a way to spend my free time.

I have some questions regarding taxes since the taxes will either make or break the return it seems.

In the example, let's assume I purchase a property that provides $8,000 a year in rental income, and I can write off $2,036 and $2,225 in both depreciation and interest respectively.

Total operating expenses and total loan payments equal $5,784 per year.

My marginal tax rate in California is 25% federal, 9.3% state. So that brings the rental income down to $5,200 a year before any tax write-offs.

My question is how will the write offs affect how much in taxes I will pay? I would like this deal to be cash flow positive as there will be little appreciation, if any.

Thanks!