All Forum Posts by: Ciprian L.

I'll be there too.

I don't know if you want to pay cash or finance it. If you want to finance it with 20% down, your PITI would be around $700/mo (taxes at 319/mo).
I would calculate the numbers with $1000/mo rent if most people are telling you that you can get that amount.
After PITI you have $300/mo for maintenance, vacancies and management. I usually calculate with:
- 8% ($80/mo) for vacancy
- 8% ($80/mo) for maintenance
- 8-10% ($80-$100) management
That leaves you with $40-$60/mo CF, ($140 if you manage it yourself).
With 13,5k down payment, 10k in repairs and 3-5k in closing costs, your initial investment would be around 26.5-28.5k. For $140/mo, that is around 5-6% cash on cash return if you manage it yourself. I like to see at least 10% with PM in place.
I don’t know how much are the taxes in your area, but it looks to me that they are very high. If you can find a way to lower them, the deal would look much better.
I always calculate the numbers with the worst case scenario and hope for higher rents and lower expenses.

He bought the property for 78k in 2001 and selling it now for 30k when similar property is on the market for 106k? What is the reason? In my opinion, something is wrong.
It's going to be very hard to get a loan for 20k from a bank.

Hi Ritch,

I sent you a PM with the contact info from the insurance agent that I use in Indianapolis.

Hi Nick Foundas. Welcome to BP!

With conventional financing you can put down 20% on first 4 properties and 25% from properties 5 to 10.

Once you buy your first investment property, you will see the cash flow and get inspired to find new ways to save more money in order to get the next one, and the next one, and ... :) Once you have a few with nice cash flow, they will generate your future down payments.

Welcome Amber Castro!

Welcome Khalid H.!

Welcome Kris Israel!

I'm from Glendale also and invest out of state. My favorite market right now is Indianapolis.

Welcome Steven Gray!
Great market. What type of investment business are you stating?

I like the second one too.