All Forum Posts by: Account Closed

Originally posted by Scott Walker:

...and he told me he found a house for $50k on the nicer side of Detroit with a tenant in it renting for $900 a month. But i see houses saling for 2 and 3 thousand dollars what is the better way to go?

What would be the numbers on this one based on rent and cash flow basis? I just want to check my calcs.

I've used 7%
30yr fixed

$900*(50% rule)
less $100 cash flow

PV= $52,608

At 2% rule I've got $45,000

Are these calcs correct?

Hey guys,

I'm getting more acquainted with Rev. Polish Notation on my calc. after some long days of kicking and screaming. So I understand the calcs and was able to figure them out on the calc. What a rush! haha

My questions:

1) Where does the 2% rule come from?
(estimated rent/.02=present value)

2) Where does the 50% expenses originate from?

3) Less $100/unit from the 50% of estimated rent?

If links are going to be easier to post rather than explain; please do.

Is this sheet the "Property Analysis Tool" underneath the "popular links" section on the left hand side?

Thanks for the find. I was just telling pops today that there was a big mis-conception about the rising home prices this past April, due mainly to the first time home-buyer incentives from Uncle Barack. A lot of people have high hopes that we're back on the up and up but I've guarded the same sentiments and have opposed the opinion. The vail is certainly coming off isn't it.

Apologies Josh. Thread and site working fine now. Maybe it was something in the chache that was trippin it.

Site good; me bad

Thanks Will,

That makes a lot of sense. Even applicable in a local market. My parents have had a fare share of terrible PM's. No big losses or collateral damage, just plain laziness and neglect.

yeah, i'll give it another shot. I agree Josh. In all my years never experienced anything like this. I'll have to re-check all my hardware again as well.

Hey Kirk,

I quickly scanned through the title post and your original post. I didn't have the opportunity to read everyone else's post so I apologize if this is redundant.

One thing that I would say, and I say this, as a renter (in my OWN shoes), is to meet us where we are. Meaning, if you could present your listings to where we already reside. If you create a website, sure thats fine and dandy and I may find it but.... probably won't ever.

In Los Angeles, our place is Craigslist.com. Free and absolutely effective. Another would be westsiderentals.com, but they are a paying site and have slowly been run off by the freedom of craigslist. So, you could always hit em from every angle, but I feel Craigslist (at least in the LA area) is a MUST.

Good Luck. Don't spend unnecessary money. Wordpress.com is also a cheap and effective way to post blogs of your listings; integrated media (pics, videos) is simple in the blogs.

My dream is to see Detroit be the next Hollywood. That way, ALL the people here would hopefully take their dreams east:) Not that I dont "like" people. Just the Hollywierds. haha

I'd be interested in hearing more about your experiences Will.

I've been trying to get in the thread "What is the best state to invest in?" and it's absolutely killing my internet browser and shutting the program down. Never had any issues such as this and is only happening on this thread from what I can tell.

Any others having this problem?