All Forum Posts by: Brandon Markos

Hello Tou, I am planning to have my parents consign a loan because My income is not the best. I am in the process of trying to get preapproved right now from chase and a local company. 

Thank you so much for your thorough and timely response Jay! Can you clarify for me how you are getting the operating expenses. I know property management is 10% of the gross monthly operating income. How did you decide on the 7% desired cap rate? Is that a common rate in Fresno? Also, I found out the rents are actually 600 per unit right now. I am trying to copy your spreadsheet to show my numbers or tweaks I might have. 

Hello community! I am looking at a deal and wanted help analyzing it. The price has been lowered twice by about 10,000 each time to 249,900 now. It is a 4 unit comprised of 2 bedroom 1 bathroom. It looks to me that the rents are about 700 each. I am thinking of using an FHA loan and living in one unit while renting the other 3. I would have to put 3.5% down totaling $8,750. Closing costs I am estimating at $10,000. My monthly Mortgage payment would be just under $1,300. After a year I will move out and be able to collect rents for all 4 units. I believe there may be room to increase rents although I am staying conservative at 700. If I use the %50 rule year one I should cashflow $100 a month. After year one I move out and collect $800 a month. These are not the great returns I have been hoping for, but in CA it looks pretty good to me. Please give me any thoughts and feedback you have. Rip this deal apart if it is no good. I appreciate your time.

it looks like the taxes are between 2-5%. That shouldn't matter if the cap rates loop net is giving me are correct because taxes are operating expenses included in the cap rate calculation. Where in the Midwest would you recommend?

I have been trying to find good markets for cash flow. The cap rates I see on Rochester duplexes look to be 20% plus. Please tel me why I shouldn't invest in some of these inexpensive properties. I am looking for a price range from 50k-200k. Most likely around 60k though. Anyone invested there? I realize there will be hardly any appreciation but I am okay with that. 

thank you for the feedback everyone. I understand I have a minimal amount of money and rushing in could be catastrophic but not doing anything could be worse. Please help with more thoughts on the Vegas market in general. Anyone investing there? 4 unit plus multi family. 

I have been interested in real estate investment as cash flow for a long time. I am 26 and have saved 20k to get started. My down payment amount limits me to some areas I have been thinking about. Please give me your thoughts on Rochester New York and Las Vegas. I live in California so I know I need to go out of state. I am willing to move anywhere to get this started. If anyone owns property in Rochester, ny or Las Vegas please share your thoughts.