All Forum Posts by: Bryan Yokoyama

Thanks for the tip to use Skype as my US contact number. I have had a Skype account for about 10 years and never even thought about it.  I will have to look into it, cheers.

In the mean time, I am just taking things a day at a time at home and paying down a couple of mortgages as fast as I can. I hope when the crisis passes, I can look at refinancing some properties and using the borrowings for future investing.

Hope every one is safe well and not suffering financially.

Thanks Lindsay.

Not much else any one can do but wait things out , get the finances in order and keep researching/learning.

Cheers  

Every things is up in the air at the moment with the virus situation , but once 
life and air travel gets back to normal, we will be heading over.

In the mean time, stay safe every one. 

I just hope the airline gives us credit for our tickets , that we can use later.

Other than that, just wait and see how things develop over the next few weeks. 

Plans of mice and men ...

We have had to cancel our April trip to the PI. The government imposed travel restrictions would have us flying into Manila April 1st and being restricted to staying in Manila for the next 14 days.

Even the wedding we were planning to attend has had to be postponed due to the local restrictions on large social gatherings.

Its disappointing but understandable given the  situation.

Disappointing but better to walk away now..

Let’s hope the next one passes muster ..

Found a duplex listed on Tulia for $53,500 ,consists of 2 x 2 bed 1 bath unites - ranch style duplex built in 1958, 1736 sqft floor area Lot Size: 0.42 acres ,property tax is $1,242. Looks like it needs some renovation from the pictures , but hard to tell if it needs major work or not .

My friend that lives in the area,  did some research and found it was also on Movoto and valued at $175,000 on that  site.

My first thought was , it’s way under value if listed at 53,500 and valued at 175,000.

I assumed for this exercise that I would need to pay the purchase price,closing costs and the renovation costs out of personal savings. 

So it would be an all cash deal. 

The he purchase price and  down payment (full purchase price)  are the same amount.

Thanks Mel

This is just a hypothetical exercise running the numbers on a listed property as a way  to help me understand (as an newbie and outsider) how the BP tool works and how the numbers stack up. 

The numbers are as close to accurate as I could find out, using a property tax look up web site, the rento meter site and information from the agent.

Renovation costs are based on my own observation from the listing pictures and limited feed  back from a selling agent email..so in reality the rehab costs are just a guestimate at this stage.

First time newbie using the PB BRRR tools to run some numbers on a hypothetical property deal.

I did this as I wanted to get some feed back from the more experienced members on PB

and also understand how the numbers relate to choosing a good deal over a bad deal. 

Property is an 8 bed 3 bath - 2 story Brick building built in 1880 with  total floor area of 3250 square feet on a 2500 square foot lot.

Asking price is $48,000 

Unit 1 & 2  - 3 bed 1 bath.   Rento meter  median rent = $1245 

Unit 3 - 2 bed 1 bath            median rent = $950 

I used an average rent of $850 per unit as a conservative estimate.

Property tax $3,206 PA  

Property/ units need cosmetic and minor renovations, budget = $20,000<$25,000.

Here are the Hypothetical numbers.