All Forum Posts by: Nick Rubino

great post up above. i may end up buying the original posters program. Seems like a new direction i would like to go.

Anyways, just wanted to add that craigs list is also a good place to check out for people with the "we buy houses adds." well atleast in my area, there is like an add every 5th one.

just thought i would ad my 2 cents.

wow my thread got jacked pretty good here.

Still trying to figure out how these numbers are supposed to work. How do I come to this computation of 40 to 50%?

thanks for all the good replies, could you please further explain the 308 a month in expnses? Im at 757 or so with taxes and insurance. I'm not understanding that 40-50% number. Right now i would figure it's pretty turn key and I have had solid tenants for 3 years now and don't seem like they're going anywhere. I'm in a military town so someone will always be renting, I mean we're getting 38k people in the next 2 years. I've pulled the comps in the neighborhood and it seems like this one is the nicest and cheaper than others. The current owner as far as I can tell is out of state so they just want to get rid of it for some reason. I work with a trusted agent who is a friend of mine and he is working as the buyer/sellers agent on this one and he said that they haven't mentioned any reason why they are getting rid of it. He also said he gets called on it every other day.

all that means nothing though if the numbers don't crunch correctly. I will also ask about the roof.

seriously though, i really thank you all for looking and replying. I'm 21 and don't want to screw my self this early on in life.

all cash-happy anniversary. thats a lot of experience you have.

ok im about to make an offer on a duplex. My cost i going to be $93,000. My mortgage is going to be $758 a month, and my two units are occupied at $450 on each side. This is below the little cul-de-sac. So we got positive cash flow of $150 a month. I'm going to fix the carpet or get an allowance in the deal for new carpet ( actually want laminate, 50 year warranty and don't have to replace every other tenant) and raise the rents to about $500-550 a month.

You guys keep talking about some type of formulas your using. Please tell me what I'm missing. I am new to rental type stuff please excuse my ignorance.

I hope I have a good deal going to work out. i submit my offer tomorrow. If any can get to me in time by monday before I make my offer, what am I supposed to get from the seller.

i look over on realtytrac and those seem ok. They are ok when looking for pre-forclosures also, but haven't activly used it for that.

question is, besides knowing a realitor or being one, where do you guys get good comps and figure out your market values. I know the MLS is in place. Is there a web site i could maybee get on my cell phone and do it on the spot at the actual house. it would be really nice and make deal doing faster and much easier.

Is realtytrac.com trustworthy of their numbers. I run them on zillow also, but without an actual apraiser it's hard to trust. too many things come into play.

please help a newbie

looking for guys around fayetteville perhaps, maybee military or retired guys to talk deals with.

hi, all just stumbled upon this website today and looks like it will be a great place to hang out. looks like corvetteforum.com will miss me for a while. This place shows me how to make money rather than spend it on my car.

I'm super excited to be here and getting into this game. I just officially got my business license last week and am working on getting my line of credit from the bank to get started. I am a young 21 year old guy on active duty in the army. I'm looking forward to making an early retirement.

thanks everyone

nick