All Forum Posts by: Bobby Barlow

thank you for all of the replies 

Wow that sounds really high so if monthly rents total 2900 and the expenses are 2000 per month and mortgage is lets say 900/month how do you make any money? the rent seems to be about 1.6% of the purchase price. i havent been able to find anything like that in the houston area. can you elaborate on the expenses. what would make them so high? Does the 50% rule generally not apply to multifamily?

I'm new also and am still learning and absorbing information. I am not quite ready to buy anything yet as I am waiting on and saving some money. But I thought it looked like it might be a good deal. The add says the monthly expenses are about 900 including insurance and taxes. Would 500 a month be good for maintenance and vacancy . If so that would leave about 1500 left over for p and I and cashflow. Seems pretty good to me

it doesn't say but I believe it's 5 based on the amount of air conditioners it says it has

It is on houston craigslist in the real estate section the title is 

OWNER FINANCE a unit Apt Complex $175,000 (near Kemah)

Not ready to buy anything yet still absorbing information. Found this on craigslist and am just trying to practice analyzing deals. Can anybody give me there thoughts on this apartment deal. 

https://houston.craigslist.org/reo/5452500215.html

 thanks Ray i will message you

I have thought about turn keys  but I will say this I found one on the Norada sight that is about a mile from my house. It is 15511 pebble lake in the 77095 zip. They didn't post the adress only the street name.i drove over there to see if I could find it and I did. They are rehabbing it. I compared the pics and sure enough that was it. It seems to be overpriced by 20-30k to me. My neighbor is running comps so we will see. Also the rent estimate seems high to me as well. They say 1550 but I think it's more like 1350.

 I would probably be hands on until i have a bunch of properties to save money.