All Forum Posts by: Casey Tenney

Hello All,

I'm very new to BP and am hoping to get involved with buying and renting single family properties. I was hoping the community could provide some insight on what major housing expenses to expect and their potential cost. I've listed some major expenses below, but I'm sure you all could help with some that I've missed. Thank you all in advance! 

New Roof

Siding

AC/Heat Units

Driveway/Sidewalk

Water Heater

Hello Everyone, 

I'm very close to closing on my first deal for a SF rental property in Providence, Rhode Island - 4 rooms, 1.5 bath. I've listed my calculations below and am hoping that some of you could chime in to confirm my results and let me know if I may be overlooking anything. Thank you in advance! 

Purchase Price: $250,000
Closing Costs: $2,500
Repairs: N/A (Turnkey)
Expense/Income/Prop Value Increase: 2% increase/year

Monthly Income (Rent): $2,600 
Assumed Cap Rate: 9%
Total Monthly Expenses (Including PIMI): $2,028
 - Mortgage: $955 (assumed 30 year/4.0%) 
 - Taxes: $415
 - Vacancy (5%): $130
- CapEx (5%): $130
 - Insurance: $100
 - Repairs (10%): $260
 - Water/Sewer Bill: $38

Assumed Monthly Cash Flow: $570/month
Cash/Cash ROI Year 1: 13.05% 
Total Return Year 1: 14.81%

Thank you in advance for taking the time to answer my questions! Best of luck to everyone out there! 

Hi All,

New member working and living in Rhode Island. Specifically looking to find buy and hold (rental) investment deals in Providence! Looking forward to meeting all of you. 

- Casey Tenney

Hello all,

This is my first post on BP (just joined this weekend). I've been doing a lot of research on the RE market and I am quite interested in starting a portfolio. I'm quite young compared to most of the posters on here (23) and would like to get ahead of the game. I have been reading many RE investing books to begin my education and the topic of foreclosures is quite interesting to me. I was wondering if anyone could recommend a good book regarding foreclosures and how to use them in RE investing? Any responses would help! Thanks!