All Forum Posts by: Casey Maib

im in a similar place in REI and the same area code

id love to get together and swap notes if your interested

Welcome Bill,

glad to see other members from my neck of the woods.

definitely mention what niche you are interested in

thank you Bill i had never seen value calculated that way. How did you come up with those percentages?

i must have miss spoken cash flow is my primary goal i am just having a hard time finding it.

thank you for taking the time to show me a new tool for comparing values!

Casey

this would be my first deal and i am not sure if its even worth looking at.

listing price is 795,000 (i would offer lower) which is comparable to sfh in the same area.

first unit rents at 2400 1b/1b

second unit rents at 1800 1b/1b

third unit is not permitted and currently rents at 800(this would be my residence in a house hack situation)

property tax is 3300 a year

this is a older house that has been maintained(new roof/siding/kitchens)

with little experience i would say this is a b+ a- house in a B B+ neighborhood

property is in downtown Napa which gets a lot of tourist activity vacation rentals go for 300 per night average

financing is through a partnership passive investor using 200,000 down to get tradition financing title will be in my name

it must be noted this is the first house i have seen with any cash flow. listing prices are high, stock is low and people buy for appreciation

this house is nowhere near the 50% or 2% rules am i crazy for looking at it

thanks in advance and let me know if i need to give more info

Casey

Welcome to BP Robin

Thank you Favia!

Thanks Jay,

it truly is a beautiful place.(people pay a lot for that though)

i currently work in construction and my girlfriend of 5 years is working on her RE license right now i have definitely been reading her books as she finishes. following her into that sounds like a good idea. i had also considered getting into home inspections.(it would give some value to my years learning construction)

thank you for reaching out and great advice.

Hello All,

i am a young aspiring new to this site and the world of REI in general. i have always looked to real estate as an abstract means to an end using buy and holds to finance a modest early retirement.i had believed to do well i needed to live below my means and work a w-2 long enough to buy a property outright. realizing the futility of wages - inflation i saw i would never get there in time to realize compounding interest.

I hit the web and stumbled across biggerpockets i have been stalking the forums podcasts blogs and webinars as much as possible but hesitated to reach out. well i couldn't have found bp soon enough because i have now stumbled upon a partnership that is willing to  finance a small multi family, and put the title in my name, in exchange for 50% of future profit.

needless to say i am very nervous as a couple months of reading in no way make me a qualified investment vehicle. but i am not willing to let this opportunity to enter the field of my dreams disappear. nobody in my extended social circle has any viable knowledge in real estate. so hear i am reaching out to the multitudes of knowledgable investors here on bp. i am open and grate full for any advice and criticism on any topic and would really love to find someone who understands my market.(it seems to be a very peculiar pocket in the real estate world with the median home price well above the earnings of the median income) 

thanks in advance to any response to this ramble or any other communications on this site,

i am truly honored to have access to this trove of bright minds

sincerily 

Casey