All Forum Posts by: Buyan Thyagarajan

Thanks @Steve Babiak @Jaron Walling for your input. Any templates on excel you guys use would be helpful as well.

Hi Guys,

I am doing a financial review of my rental homes and would like to measure the performance of my homes. I do the following .

1. Get all rents for 2021 and subtract the expenses which are Principal, Taxes, Insurance  and rehab work.

2. I compute the Net income which is always very low for me for one of my rental homes like less than 100. 

I want to know what metrics do you guys use to measure the performance of your rental properties on a yearly basis? How do you decide one property is better compared to others and How do you decide it is time to sell a property? Any help on this would be helpful.

Buyan

Hi Guys,

I am currently in the process of doing Rehabs on my 2 single-family homes around Philly. I had a bad incident where a contractor ran away in the middle of the construction and I have hired a new company who is working on the 2 projects now. I have made some payments for the initial advance and demo and currently, they are working on the house. My rehab is simple where I am replacing the floors with LVP, repainting, adding a half bath, kitchen redo, and bathroom redo. I had paid close to 50% on the first project and the contractor is asking for a payment. How do you guys set milestones on rehab projects and how do you determine project progress like 30% done, 50% done, etc? How do you determine when to pay the GC on payments? Do you have any project management templates in excel or any other tool which could help?

Buyan

Hi Guys

I had a bad experience with a contractor who abandoned me at the last minute. I am in the process of hiring another contractor and would like to know the following.

1. How do we find out how many contractors work for this company full time?

2. Other than better business bureau , is there a site or place to find any issues with a company?

3. What are the 2 things you guys look for in hiring a contracting company for your rehabs?

Buyan 

Hi Guys,

I had a contractor who was working in my property in Darby. He finished 40% of the job and is not responding to any phone calls or messages. He lied about a permit approval and once I called the county, they have the permit but he is not going to pick up them. I am stuck at this point with a half bath, kitchen to be done. What are the things I should do now at my property to protect it and resume with another contractor? How do I terminate his services asap?

Buyan

Hi Guys,

I am trying to narrow some zipcodes for multifamily properties in Philly. I have been doing some investments in darby and West Philly. Based on your experience can you tell me 3 zip codes that are good cash flowing and 3 zipcodes with an appraisal?

Buyan

Hi Guys,

I am trying to come up with a strategy of identifying areas around Philly where I can get a higher cash flow on single or townhomes based on the following characteristic.

1. low taxes

2. higher rents 

Can you tell me based on your experience what areas in Philly have met your criteria on higher cash flow and why? Are there any other factors you guys consider in deciding a property or location that can come up with a higher cash flow.

Buyan

@Kevin Uzelac Thanks for your insights and would love to talk to you further as well.

Hi Guys,

I have been trying to find some deals in west and south west philly around 19139, 19143. The prices are very high for a 3b 1bath property and for brrr deals, it is like 20 to 30k money left in the deal after rehab we are seeing. I am looking at a strategy of recouping the costs with an appreciation value in 3 to 5 years. Is there any resources that can predict future appreciation by zipcodes that you guys use? How do you guys make decisions on deals where the costs for acquisition is said 110k, rehab is 30k and ARV is around 150k for a lighter rehab and a flip rehab it is 190k? For me, it is a buy and hold strategy and I am torn on the rehab costs determination and how much money should I leave in the deal?

Thanks @Josh Caldwell @David Krulac @Drew Petro @Bob Okenwa for your comments. This certainly helps me in the decision.