All Forum Posts by: Brian Boodoosingh

Hey @Daniel Haberkost thanks for the reply, man.

-Repairs and Maintenence are factored into the expenses in the OP, but I added an additional 8-10%/month for CapX which I definitely may have overlooked. The property inspection has indicated the kitchen needs some repairs, so budgeting about $8,000 for that once the current tenant's lease is up (if they choose to move out).

- Built in 1974, so added more for CapX per your suggestion.

- Tenant would be responsible for Electric, Garbage, Gas, Landscaping, PestControl, Water.

- My fiance and I do have a fair amount of cash on hand, about another 50K that could be tapped into if everything went to sh*t. 


With this additional info, let me know your thoughts. Still looking at positive cash flow (less than $100 now) and I feel like I'm being responsibly cautious with the estimates.

Hi All,

I think I've found a deal on a SFH in North Carolina. Would love a second set of eyes on the math to see if anyone can poke holes in it for any considerations I'm missing for a buy & hold strategy.

• Purchase Price: $70,000
• Mortgage Terms: 20% down ($14,000) @ 4.5% interest
• Closing Costs: $3,000

• Income
• Average Rent for comps: $850/ month ($10,200 annual)
• Assumptions
• Vacancy: 6.5%
• Management Fees: 10%
• Expenses
• Mortgage: $283/month
  
• Vacancy: $55/month
• Management: $79/month
• Property Tax: $83/month
• Other Misc Expense (including insurance): $250/month

I have this deal cash flowing ~ $100/month. Given that I'm planning to hold this property for a few years with cash flow being my primary goal, can anyone take a look and let me know their thoughts?

Hi @Ashton Levarek,

Thanks for reaching out! I'd love to chat about your experience in the area and with building your team.

Hi All! I'm a new real estate investor based out of Queens NY looking to buy a multifamily home in the Raleigh-Durham area. Being new to REI and also being out of state seems tough, but my fiance and I both have great jobs in NYC with the ability to work remotely and the flexibility to fly down to the area whenever necessary.

Ideally looking for a triplex or 4plex in a nice neighborhood that is cash flow positive. Our plan is to live in a unit to qualify for an FHA loan if the home is nice enough, or rent out all units with a standard mortgage if we're not crazy about living in it.

Looking to build a reliable team. Any advice is appreciated. Really looking forward to networking!