All Forum Posts by: Christopher Roome

I’m an out of state investor looking for recommendations for a property manager (looking to build to double digit homes in 18-24 months) and a real estate attorney in St. Louis. Thanks in advance!  

I’m selling my investment property in northern NJ, 2 bd 2.5 bath townhouse with attached garage. Wanted to post here first for investors before we listed on mls. Message me for more info! 

@Brian Hughes Pleasanton 

@charles 

@Charles Carillo thanks! I’ll definitely adjust the numbers a bit! 

I'm looking at a 7 unit in Texas, asking 470k. NOI $41k Cap rate 8.8%. Monthly cash flow estimated about $1k. 470 seems high to me, 430 would be where I'm looking at entry, maybe 440 no higher. Numbers run off current rent roll (4950) taxes (5200 annual) insurance (3k annual) with 5% vac 10% management and 3k annual maintenance. The property is rural, about 30 min outside San Antonio. This would be my first out of state investment if I find a partner for capital. Do these numbers look good? Or am I missing something major in my calculations?

any input/comments/advice is greatly appreciated! Thanks BP fam 

Hey Letrae, I will definitely reach out soon! Thanks

Looking at multi family in mt pleasant and I’m seeing all over online crime rate is very high but agents and PM’s saying the area isn’t bad. Anyone familiar with the neighborhood who can give an out of state investor an honest answer? Thanks!

Alyssa, I am interested, can you send me the details? 

@Jaron Walling the tenant is moving in on 12/1. Rent is projected, $3200/mo with mortgage ins and taxes coming to 1600, HOA and water 500 and 200 for vacancy and maintenance (I replaced and did a lot of work in the 3 years I've lived here so running 5% and 2%) $2300 out, leaving +900 cash flow.

I own a townhome with a lot of equity that I'm renting starting 12/1 and I am currently under contract for my new primary residence. What are options for me to leverage my equity? I can't get a HELOC because bank sees I'm under contract, my rate is 3.75 and I'm cash flowing roughly 900 so a cash out refi doesn't make sense, I don't want to sell as cash flow and appreciation both are nice. Not sure if there are any other options out there for me, but I'm new to this so I figured this forum is the best place to ask!