All Forum Posts by: Bruno Franco Netto

Hello guys!

If you live in the Twin Cities area and you're interested in attending a discussion group centered on the topic of financial independence this Saturday, please join us at the Keller Williams office in Roseville for some coffee, donuts, and talk of financial independence through investing in income-generating assets.

thanks,

Bruno Franco Netto

Hey guys I decided to change the time of the event from 1 pm to 11 am since I just realized that I had something else going on Saturday afternoon and the new time works much better for me. Is that ok with you guys, does the new time work as well? 

Hello fellow BiggerPockets members in the Twin Cities area,

Please join me this Saturday, July 15th for an investor meeting. The two main goals of this first meeting are 1) to allow members to network face-to-face and 2) to discuss the current investment outlook of the Twin Cities real estate market.

So if you're interested in meeting fellow BiggerPockets members and learn from them I think this will be a good opportunity to do so.

I'll see you guys soon,

Bruno Franco Netto

Hello fellow BiggerPockets members in the Twin Cities area,

Please join me on Saturday, July 15th for a Bigger Pockets meeting. The two main goals of this first meeting are 1) to allow members to network face-to-face and 2) to discuss the current investment outlook of the Twin Cities real estate market.  

So if you're interested in meeting fellow BiggerPockets members and learn from them I think this will be a good opportunity to do so.

I'll see you guys soon,

Bruno Franco Netto

Congratulations Megan, the numbers are great on this one!

Thank you John that is very insightful and helpful. 

Hey Nick. If you're using the BiggerPockets calculators those two things are actually accounted for separately. Repairs and maintenance are your monthly/regular expenses just for maintenance. Capital expenditures are big item repairs that only come every once in a while such as roof, furnace or window replacements. In this case I estimated each as being a 5% of the gross income of the property. Would you guys agree with that estimate?

Hi Ryan, yes I'm using the numbers provided by the listing agent in the MLS. Since those numbers are quite specific I believe that the units are probably currently rented but I wonder if they aren't rented below current market rents given that they seem to be quite low and as far as I can see the property is in good shape and the location is solid.

Have you guys been able to find properties with positive cash-flow lately? It seems that every property I analyze ends up being a negative cashflow property,, this one was actually one of the most promising ones I've seen lately... I'm currently looking for a good, positive cashflow multi-property for one of my clients and there doesn't seem to be a whole lot out there... What do you guys think?

Hello everyone, thank you so much for your help, it is certainly extremely helpful and most appreciated. It seems that this might not be the best deal to pursue at the current price although if the price could be negotiated a bit it could potentially still be worth it. It seems that the biggest problem is that rents are pretty low like Tim said, I'm not sure why that is.

Hello guys, my name is Bruno Franco Netto, I'm a biggerpockets member and I'm also a real estate agent and investor in the Twin Cities area. I'm starting to use the Biggerpockets calculators to analyze deals and I would like to ask your opinion on one of those deals:

431 Lynnhurst Avenue W, Saint Paul

Built in 1885

4 Units, 2 Garage

$254,900 price

2 days on the market

I'm thinking about it in terms of making it a rental property house-hacking style with a 3.5% FHA loan, 4% interest, 30 years fixed.

My analysis is the following:

Expenses: 

Principal and Interest - $1175

Property Taxes - $415

Property Insurance - $100

Mortgage Insurance - $100

Utilities - $300

Vacancies - $265

Repairs and Maintenance - $132

Capital Expenditures - $132

Property Management fees - $265

Total Expenses - $2884

Income

Unit 1- $700

Unit 2- $525

Unit 3- $850

Unit 4- $575

Cashflow after moving out of the property and hiring property management company - negative $234

So basically according to my analysis this is not a great deal at the current price but I'm curious to see what you guys think about the analysis. 

thank you,

Bruno Franco Netto