All Forum Posts by: Charles Murray

@Rich Baer Thanks for the response. Makes sense, and would be sure to fully understand before purchasing. Looking like this property may be a bit more trouble than it's worth. The search continues!

I'm considering a deal that is walking distance to a university in a great, quite rental street. Here are the details: 

• LP: $199k (dropped about $50k in the past month and a half - could this mean they're too anxious? Currently belongs to an elderly lady.)
• 2 BR 1 BA
• Built in 1940s
• New roof in 2012
• Dry crawlspace with no visible issues
• Backs up to train tracks

Only problem is that the house is set back from the street, therefore has an easement on the driveway. It also shares a septic tank with one or two other houses. 

My question is, what should I know about these easements before making an offer? 

Thanks everyone for the advice! It is much appreciated. Following up with PMs where appropriate. 

@Paul Timmins- That's a great tip! Will be sure to call around and ask. 

Thanks for the great input, @Alex Corvin and @Rachel De Faut! I will be sure to check out other posts on expense estimating as well as Rent-O-Meter. 

Hi all! New to both BP and RE. I'm from Raleigh, NC and am currently in self-education mode (lots of books, podcasts, and mentor seeking), but planning to explore my first deal soon. 

I have a full-time job with a marketing technology company in the area, but have a strong interest in pursuing RE investing as a future additional stream of income. Freedom is the real reason I seek true financial independence, and I'm willing to work for it. 

I plan to start with a single-family buy-and-hold rental. My goal is to own five cash-flowing properties in the next five years. I then want to expand to multi-family and potentially commercial investments, scaling from there. 

I'm looking for advice on analyzing my first deal. 

How does one accurately estimate expenses to ensure positive cash flow? Are expenses primarily estimated from gathering info from the seller combined with my personal discoveries of the property? Is there a comprehensive list of expenses to consider to ensure I don't miss anything (taxes, insurance, fixes, etc...) when calculating rent to charge? 

Open to any/all guidance here. Thanks in advance!