All Forum Posts by: Chris Ramos

If you're looking for a Fully Remodeled, Quality Rental with realistic numbers then take a look at this property!

Brick 2 bedroom home with a 2 car garage, with a Section 8 Tenant.

FOR MORE PROPERTIES VISIT www.partnersinvesting.com

REMODEL REMARKS:

SECTION 8 TENANT

COMPLETELY REMODELED WITH NEW:

• ROOF WITH 30 YEAR ARCHITECTURAL SHINGLES
• FURNACE
• WATER HEATER
• VINYL WINDOWS
• KITCHEN CABINETS, COUNTER TOP, AND SINK
• TILE KITCHEN FLOORING
• BATHROOM VANITY, MIRROR, AND TOILET
• TILE BATHROOM FLOORING AND SHOWER SURROUND
• DOORS AND HARDWARE
• LIGHTING THROUGHOUT
• INTERIOR TWO-TONE PAINT
• WINDOW COVERINGS
• PLUMBING AND PLUMBING FIXTURES
• ELECTRICAL FIXTURES

FULL BASEMENT WITH GLASS BLOCK WINDOWS

EXCELLENT MANAGEMENT IN PLACE

CASH FLOW ANALYSIS

850.00 Monthly Rent

$10,200.00 Gross Rents
-$1,020.00 ((10%)) Property Management Fee
-$1,552.00 Taxes
-$ 0.00 Utilities
-$510.00 Minus Vacancy (5%)
-$1,020.00 Minus Repairs, Maintenance, City Fees, Etc. (10%)
-$306.00 Minus Leasing Fee (3%)
-$0.00 Lawn Care
-$500.00 Insurance

$5,292.00 Net Rents divided by

$55,700.00 Purchase Price equals

9.50% ROI

AREA INFO:

***The Detroit suburb of Inkster is located directly west of Detroit. Comprised of mostly 2 and 3 bedroom homes Inkster is undergoing a transformation of youth. Young families are finding affordability with ease of access to downtown Detroit, Ford Manufacturing Facility and Detroit Wayne Metro Airport with a quiet suburban lifestyle. In 2016 the planning phase to connect the University of Michigan to Wayne County Airport and Downtown Detroit began. This project will include a light rail and main station in Inkster City drawing more families and development to the city. Property values are sure to rise quickly in Inkster.

REMODEL REMARKS:

SECTION 8 TENANT

COMPLETELY REMODELED WITH NEW:

• ROOF WITH 30 YEAR ARCHITECTURAL SHINGLES
• FURNACE
• HOT WATER HEATER
• VINYL WINDOWS AND BLINDS
• KITCHEN CABINETS, COUNTER TOP, AND SINK
• TILE KITCHEN FLOORING
• BATHROOM VANITY, TOILET, MIRROR, AND TUB
• TILE BATHROOM FLOORING AND SHOWER SURROUND
• INTERIOR AND EXTERIOR LIGHTING
• DOORS AND HARDWARE
• INTERIOR TWO-TONE PAINT
• PLUMBING AND PLUMBING FIXTURES
• ELECTRICAL PANEL AND ELECTRICAL FIXTURES
• GUTTER SYSTEM

MAINTENANCE FREE VINYL SIDING

EXCELLENT MANAGEMENT IN PLACE

CASH FLOW ANALYSIS

800.00 Monthly Rent

$9,600.00 Gross Rents
-$960.00 ((10%)) Property Management Fee
-$601.00 Taxes
-$ 0.00 Utilities
-$480.00 Minus Vacancy (5%)
-$960.00 Minus Repairs, Maintenance, City Fees, Etc. (10%)
-$288.00 Minus Leasing Fee (3%)
-$0.00 Lawn Care
-$500.00 Insurance

$5,811.00 Net Rents divided by

$61,170.00 Purchase Price equals

9.50% ROI

FOR MORE PROPERTIES OR TO LEARN ABOUT A HANDS FREE RENTAL OWNERSHIP GO TO www.partnersinvesting.com  

GOOD LUCK INVESTING!

Howdy

I'm surprised the buyer's lender didn't catch this right off the bat.

The contract needs to be dated on the 91st day, to meet the FHA Guidelines.

Unless guidelines have recently changed this is the rule.

Good Luck.

Howdy

If I understand the question correctly you own a rental property with a conventional loan?

And you want to buy another rental property to occupy? I wouldn't phrase it as a rental property you want to occupy, instead I would phrase it or simply look at it as owning a second property you want to occupy. And you want to purchase it with an FHA loan which is totally acceptable.

Let me know if I'm missing something or if you have any other questions.

Good Luck!

If you want to own rentals but don't want to deal with them then we should talk.

Or if you simply want a Quality rental property with conservative, realistic returns then we should talk.

Check out my website at www.partnersinvesting.com

AREA INFO:

***The Detroit suburb of Inkster is located directly west of Detroit. Comprised of mostly 2 and 3 bedroom homes Inkster is undergoing a transformation of youth. Young families are finding affordability with ease of access to downtown Detroit, Ford Manufacturing Facility and Detroit Wayne Metro Airport with a quiet suburban lifestyle. In 2016 the planning phase to connect the University of Michigan to Wayne County Airport and Downtown Detroit began. This project will include a light rail and main station in Inkster City drawing more families and development to the city. Construction is set to begin in summer 2018 bringing jobs and opportunity to Inkster. Property values are sure to rise quickly in Inkster.

REMODEL REMARKS:

SECTION 8 TENANT

COMPLETELY REMODELED WITH NEW:

• FURNACE
• HOT WATER HEATER
• VINYL WINDOWS
• CARPET
• KITCHEN CABINETS, COUNTER TOP AND SINK
• TILE KITCHEN FLOORING
• BATHROOM VANITY, TOILET, MIRROR, AND TUB
• TILE BATHROOM FLOORING AND SHOWER SURROUND
• INTERIOR AND EXTERIOR LIGHTING
• DOORS AND HARDWARE
• VINYL BLINDS
• INTERIOR TWO-TONE PAINT
• PLUMBING AND PLUMBING FIXTURES
• ELECTRICAL PANEL AND ELECTRICAL FIXTURES

EXCELLENT MANAGEMENT IN PLACE

CASH FLOW ANALYSIS

796.00 Monthly Rent

$9,552.00 Gross Rents
-$955.20 ((10%)) Property Management Fee
-$924.00 Taxes
-$ 0.00 Utilities
-$477.60 Minus Vacancy (5%)
-$955.20 Minus Repairs, Maintenance, City Fees, Etc. (10%)
-$286.56 Minus Leasing Fee (3%)
-$0.00 Lawn Care
-$500.00 Insurance

$5,453.44 Net Rents divided by

$57,300.00 Purchase Price equals

9.52% ROI

FOR MORE PROPERTIES PLEASE VISIT www.partnersinvesting.com

AREA INFO:

*** PONTIAC CITY IS THE PLACE TO BE! The City of Pontiac is a manufacturing hub located just north of Detroit Michigan and is the County Seat of Oakland County. Along with three major hospitals several large companies have manufacturing facilities in Pontiac including General Motors, AT&T, and HP Enterprise Services. In 2008 the automobile industry crashed leaving several large commercial districts vacant in Pontiac. In addition, the Governor appointed an Emergency Financial manager to sell off the cities non-producing assets, to privatize almost all departments and to correct the decades of financial miss-management. NOW, the emergency manager has left, local control has been returned to the Mayor and City Council, and Pontiac is on a firm financial setting with a surplus for the 1st time in years. Home to the new M1 Concourse Pontiac is back on the map. With the completion of this classic sports car condo/racetrack/complex in the summer of 2016 hundreds of support jobs are being created as space is selling out fast. Downtown Pontiac is seeing major building renovations including a new live performing arts theater, several new restaurants, and loft development projects. 100’s of older homes have been demolished over the last few years, making way for new homes to be built and existing homes to rise in value. With employment opportunities small families are flocking to Pontiac. This influx of working families is causing a shortage of 2 and 3 bedroom homes creating high demand and low turnover for rental units.

REMODEL REMARKS:

REMODELED WITH NEW;

• FURNACE
• HOT WATER HEATER
• GUTTERS
• CARPET
• PLUMBING FIXTURES
• SHOWER SURROUND
• BATHROOM VANITY
• TILE KITCHEN FLOORING
• VINYL WINDOWS
• TWO TONE INTERIOR PAINT

MAINTENANCE FREE VINYL SIDING

EXCELLENT MANAGEMENT IN PLACE

CASH FLOW ANALYSIS

800.00 Monthly Rent

$9,600.00 Gross Rents
-$960.00 ((10%)) Property Management Fee
-$580.00 Taxes
-$ 0.00 Utilities
-$480.00 Minus Vacancy (5%)
-$960.00 Minus Repairs, Maintenance, City Fees, Etc. (10%)
-$288.00 Minus Leasing Fee (3%)
-$0.00 Lawn Care
-$500.00 Insurance

$5,832.00 Net Rents divided by

$59,800.00 Purchase Price equals

9.75% ROI

FOR MORE PROPERTIES VISIT WWW.PARTNERSINVESTING.COM

@Mitrah Rasti

Howdy

Here's a couple referrals -

Priority One Property Management -  Licensed broker, full service management. Contractor offices out of the same building.  ** Disclosure - I'm a silent partner of the business and have most of my portfolio with them.  

Next referral - Lewis Property Management -  Licensed broker, full service management. I have no ownership interest with them. I currently have some of my portfolio with them and have used them for the last year and a half. 

Both companies are excellent, feel free to pm me and I'll send you their contact information. 

Good Luck!

FOR MORE PROPERTIES PLEASE VISIT:  WWW.PARTNERSINVESTING.COM

AREA INFO:

***The Detroit suburb of Inkster is located directly west of Detroit. Comprised of mostly 2 and 3 bedroom homes Inkster is undergoing a transformation of youth. Young families are finding affordability with ease of access to downtown Detroit, Ford Manufacturing Facility and Detroit Wayne Metro Airport with a quiet suburban lifestyle. In 2016 the planning phase to connect the University of Michigan to Wayne County Airport and Downtown Detroit began. This project will include a light rail and main station in Inkster City drawing more families and development to the city. Property values are sure to rise quickly in Inkster.

REMODEL REMARKS:

SECTION 8 TENANT

COMPLETELY REMODELED WITH NEW:

• ROOF WITH 30 YEAR ARCHITECTURAL SHINGLES
• WATER HEATER
• VINYL SIDING, WINDOWS, AND BLINDS
• KITCHEN CABINETS, COUNTER TOP, AND SINK
• TILE KITCHEN FLOORING
• BATHROOM VANITY, MIRROR, TUB, AND TOILET
• TILE BATHROOM FLOORING AND SHOWER SURROUND
• CARPET THROUGHOUT
• DOORS AND HARDWARE
• LIGHTING THROUGHOUT
• PLUMBING AND PLUMBING FIXTURES
• ELECTRICAL PANEL AND ELECTRICAL FIXTURES
• GUTTER SYSTEM
• INTERIOR TWO-TONE PAINT

EXCELLENT MANAGEMENT IN PLACE

CASH FLOW ANALYSIS  *Realistic Expenses

800.00 Monthly Rent

$9,600.00 Gross Rents
-$960.00 ((10%)) Property Management Fee
-$782.00 Taxes
-$ 0.00 Utilities
-$480.00 Minus Vacancy (5%)
-$960.00 Minus Repairs, Maintenance, City Fees, Etc. (10%)
-$288.00 Minus Leasing Fee (3%)
-$0.00 Lawn Care
-$500.00 Insurance

$5,630.00 Net Rents divided by

$59,260.00 Purchase Price equals

9.50% ROI

FOR MORE PROPERTIES PLEASE VISIT -  www.partnersinvesting.com 

@Arsen Atanasovski

Howdy.

Sent you an email.

IF YOU'RE LOOKING FOR A SOLID CONSERVATIVE RETURN THEN THIS IS A PROPERTY FOR YOU!

PLEASE LOOK AT THE ACTUAL EXPENSES BUDGETED WHEN COMPUTING YOUR ROI!

AREA INFO:

***The Detroit suburb of Inkster is located directly west of Detroit. Comprised of mostly 2 and 3 bedroom homes Inkster is undergoing a transformation of youth. Young families are finding affordability with ease of access to downtown Detroit, Ford Manufacturing Facility and Detroit Wayne Metro Airport with a quiet suburban lifestyle. In 2016 the planning phase to connect the University of Michigan to Wayne County Airport and Downtown Detroit began. This project will include a light rail and main station in Inkster City drawing more families and development to the city. Property values are sure to rise quickly in Inkster.

REMODEL REMARKS:

COMPLETELY REMODELED WITH NEW:

• ROOF WITH 30 YEAR ARCHITECTURAL SHINGLES
• FURNACE
• HOT WATER HEATER
• KITCHEN CABINETS, SINK AND COUNTER TOP
• TILE KITCHEN FLOORING
• CARPET THROUGHOUT
• BATHROOM VANITY, MIRROR, AND TOILET
• TILE BATHROOM FLOORING AND SHOWER SURROUND
• PLUMBING AND PLUMBING FIXTURES
• ELECTRICAL PANEL AND ELECTRICAL FIXTURES
• LIGHTING THROUGHOUT
• DOORS AND HARDWARE
• VINYL WINDOWS AND BLINDS
• INTERIOR TWO-TONE PAINT

FULL BASEMENT WITH GLASS BLOCK WINDOWS

CASH FLOW ANALYSIS

850.00 Monthly Rent

$10,200.00 Gross Rents
-$1,020.00 ((10%)) Property Management Fee
-$1,604.00 Taxes
-$ 0.00 Utilities
-$510.00 Minus Vacancy (5%)
-$1,020.00 Minus Repairs, Maintenance, City Fees, Etc. (10%)
-$306.00 Minus Leasing Fee (3%)
-$0.00 Lawn Care
-$500.00 Insurance

$5,240.00 Net Rents divided by

$58,200.00 Purchase Price equals

9.00% ROI

FOR MORE PROPERTIES PLEASE VISIT:   WWW.PARTNERSINVESTING.COM   FINALLY A HANDS FREE WAY TO OWN RENTAL PROPERTIES!