All Forum Posts by: KIMARD EGLETON

@Matt Motil@Jason Bott@Justin R. Thanks for your responses. You guys just validated concerns I had when I received these numbers from the owner.

Ok BP'ers

I posted recently about the best way to analyze a portfolio of 7 properties (5 SFRs, 2 MFR). After further discussion with the owner, here are a few additional numbers for your review. These properties are in a rather rural neighborhood. The houses are old and from the looks of it, needs a little TLC.

Per the owner:

Asking Price $250,000

Rental Income $3600

Annual Maintenance $1100 (seems low)

Annual Insurance $1000

Annual Property Tax $2250.15

The properties are currently self-managed and rented. Tenants pay all utilities.

@Mike S. lol. I'm also up for a Saturday morning breakfast.

@Dawn Johnson I use to live in Williamsburg. I love the Hampton Roads area and have spent a considerable amount of time in NOVA with my career. Both areas are ripe with opportunity, while its my opinion that Hampton Roads presents better opportunities. Welcome to BP.

I have learned a great deal from the very experienced folks on this forum.  Regardless, of what your exit strategy, I recommend, first, reading J. Scott's Book on Estimating Rehab Cost. Secondly, I tell everyone to take this forum in small bites, pick a niche, research that niche, and move on to the next even if you have no plans on operating in it. You never know when you will need to call an audible. "Just like a quarterback: analyze the defense (deal), pick your play or audible (buy/hold, flip), score points (get deals done). Good luck man.

@Jon Deavers--I know right.  A few other folks has mentioned him as well.

I already reached out to him to set up a consult. Thanks.

I would love to have lunch (12pm) with you guys Thursday.....say Wabi Sabi?

@Christopher Bennett Great write up. You mentioned that at the end of the 30 years the note will be worth $61,656.09. With your balloon payment at the end of 8 years, is it the matured value of the note - principle and interest already paid or is it just principle?