All Forum Posts by: Craig His

Your rent/purchase price is really good and cash flow is really high too! Granted you don't have any capx, vacancy or repairs within it. I think it depends on what your goals are. I like your numbers and I would stick with it. Your cash flow will only get better as time goes on and as long as its rented you should be good with it. this is my novice 2 cents. 

Your in a good situation (in my eyes at least)! Looking forward to hear what some experienced investors will have to say!

Welcome! In a similar boat as you, but in Phx. Life is busy with kids, just need to make sure the boss "wife" is happy and knows exactly what your doing. She may not know the ins and outs of this but listen to her and make her part of the decision process. After all your doing this for them. 

you rock! thats amazing! Tempe is great for AirBnB! happy you were able to purchase something within that great hot spot!

I am in!

Hey Chase, 

what did you end up purchasing? can you share your analysis...? how did you finance this rental? looking to get my first deal and would be awesome to here your breakdown of it!

-Craig

this is exactly what I am going to do! I got some time to learn kc and the underlinings of the areas to make a good investment. Thanks for the response! 

we originally financed $181k for 20 years, that's why our payament is higher. We also have been in this House for the last 7 years. 

Sounds like almost a contentious to sell, take the tax free money and I invest in a better cash flow property, and that a refi will eat into the equity and take time to recoup. 

We were leaning towards that direction and now can consintrate on the kc market in addition I would rather be in the same area as my rentals, since I am unsure if I will manager or have a pm do it for me. Any other calc or ideas please let me know. Thanks for all the responses thus far! 

Hi,

I am fairly new to BP, and first time post. I really enjoy real estate and would love to move into full time down the road. First things first, we are planning on moving to KC, from Chandler, Az. We do not need the money from this house to purchase a new house with 20% down. We currently purchased our home in 2010 for a really good deal. put 20% down and did a 20 year mortgage. Question is do I convert this to a rental here in chandler, to start my portfolio?  

mort = $1450 (taxes, insurance included)

hoa = $55

purchase price = $229K  (estimated value is $315K)

owe = $140K

typical rent in my area for a 3br/2ba = $1400 ish. 

our SFH is about 2100sf with a tandem 2 car garage which equals extra storage for possible renter. tile throughout the house and would not need to do anything to fix/repair to turn into a renal. Its ready to go!!

this above would give me negative cash flow. would it be beneficial to just sell this, and take all the equity/appreciation and purchase a rental in KC when we eventually move?

or should we refi for the remaining balance, which would give us a lower mortgage and such would have a positive cash flow?

anything I am missing? let me know i can provide more details