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All Forum Posts by: Ceasar Blackman

Ceasar Blackman has started 33 posts and replied 261 times.

Post: First deal - Help me analyze...please

Ceasar BlackmanPosted
  • Real Estate Agent
  • Orlando, FL
  • Posts 270
  • Votes 40
Originally posted by @Braden Hobbs:

I'm contemplating putting an offer in on a SFH that is split into a front/back duplex. Each unit has 2bd/1ba and a garage. Let me know if my math looks correct or if I'm blatantly forgetting something please. I plan to put in an offer where my Cash on Cash is above 11% but here are the numbers for sellers initial asking price.

Asking Price - $199,000

Expected Rent - $900 a month per unit(guessing low)

Taxes - $55 a month

Insurance - $100 a month (guessing here)

Vacancy - 8% per unit - $144 a month

Repairs - 5% = $45 a month

CapEx - $200 a month (30+ years old)

PM - 10% - $180

TOTAL EXPENSES: $724

NOI = $1076

CASHFLOW = $266 A MONTH

ROI = 3192/42000 = 7.6%

Thanks!

 Small error though i found while working numbers was that repairs at 5% should have been $90 figured in monthly. That changed yearly CF to 2652 and that left a 6.3%

When i worked numbers further to achieve a 11% roi your offer would be $114,260.66 assuming you were keeping you DP percentage wise the same. So obviously being less. 

My poor attempt I'm sure someone that has a spread sheet will find my hidden errors.

BTW anyone with a good sheet for MAC dm me :)

Post: Newbie from Orlando FL

Ceasar BlackmanPosted
  • Real Estate Agent
  • Orlando, FL
  • Posts 270
  • Votes 40

Welcome @Sean Esdaille have you done some deals in Winter Garden 

Post: New member from Orlando, FL

Ceasar BlackmanPosted
  • Real Estate Agent
  • Orlando, FL
  • Posts 270
  • Votes 40

Welcome to the boards, I'm sure you will find everything you need here. I more than likely will be at the CFRI tomorrow as well, See ya then 

Post: Any ideas on new places to find buyers?

Ceasar BlackmanPosted
  • Real Estate Agent
  • Orlando, FL
  • Posts 270
  • Votes 40

Great Tips @David Dey For my market i have to say the county property appraiser is great, just looking to lock down tracking the phone number and you gave me some great tips. 

Post: What do you consider good cash flow?

Ceasar BlackmanPosted
  • Real Estate Agent
  • Orlando, FL
  • Posts 270
  • Votes 40

When you say aggressive do you mean extra conservative ? College town sounds like solid rental pool going forward, but I'm guessing expenses could add up considering repairs after each turn over. With college students could that be multiple times a year. 275 sounds great but better to under promise and over deliver. Will you be managing yourself? What did you factor in for repairs and Capx ? Just some general questions that come to mind

Post: Need advice on a property for sale

Ceasar BlackmanPosted
  • Real Estate Agent
  • Orlando, FL
  • Posts 270
  • Votes 40

Yea I'm curious on the terms, as what would be needed on your end. I live in Clermont, which is kinda next town over. I think a lease option is not a bad idea for residents in that area, seeing as the income isn't the highest in that area. Not a throw away I'm thinking, but really boils down to the terms. 

Post: How to structure private money or partnership

Ceasar BlackmanPosted
  • Real Estate Agent
  • Orlando, FL
  • Posts 270
  • Votes 40

@Bill Gulleyawesome post such good advice, I had to take some notes! I know old thread but i had the information was appreciated !

Post: Florida Real Estate exam

Ceasar BlackmanPosted
  • Real Estate Agent
  • Orlando, FL
  • Posts 270
  • Votes 40

Get the math down, if anything you can't least score high on that part seeing as its probably the most straight forward part. Don't quote me but i think the math portion was supposed to make up about 10% of the exam

Post: New member in Central Florida

Ceasar BlackmanPosted
  • Real Estate Agent
  • Orlando, FL
  • Posts 270
  • Votes 40

Welcome @Israel SantiagoI also live in Clermont, Keep and eye out i think I'm going to try to organize a meet up in the coming weeks. 

Post: Code Violation Negotiations

Ceasar BlackmanPosted
  • Real Estate Agent
  • Orlando, FL
  • Posts 270
  • Votes 40

@Matthew B. oh sry meant yes in Clermont and the person i spoke with was from the city of clermont. So yes i would have to petition clermont city council they told me. Obviously i trying to get a rough idea of what they might settle for so as i might adjust an offer.