All Forum Posts by: Chris Rowland

I know a quad is allowed with a Va loan if you live in one. I'm told mixed stories tho for more than 4. I need to know for example if 7 units make up one building can you do a VA for 4 and then a conventional for the remaining three? I should have an answer from

Underwriting soon but figured I’d try to get ahead with any experiences in BP!

@Joe Kooner

I have a (what I feel is) a great excel sheet for roi calc. Although not a veteran I’ve been a landlord for 5 years and researching a lot lately

I use the 1% rule to see if I even want to run a COCROI (yes I say cockroy lol).

Adjust the cells for your area of course.

I’d be glad to email or give the link - lmk

Good luck and have fun!

@Joe Villeneuve

What is the middle? I'm looking at townhomes and SFR ranging from 1300-1700/mo

I am seeing it NW FL as well. Made a full price offer on a townhouse last week after 1 DOM and Simone beat me to it.

For MF the realtor is basically waiting for my underwriter approval for showing in one case

Another case I’m looking at new construction quad for a total of 748K - where I think a year ago would have easily been 640-670.

Not sure what to do these days as I want to start building my portfolio (sold two I had but none currently) but don’t want to grossly overpay in the bubble either. 🤔🤔

@Roi Horowitz

using that for a down payment or property under 50?

@Matt "Roar" Gardner

I'll take u up! Thx. Vacation this week but would y have an excel you could send in the meantime? Have a agent/good friend here but he's not too keen on STR.

If y look at the two avail now in CBV it just doesn’t add up to me even at 50k (they r 2 br only I think)

Tia!

If anyone has true figures they can send for STR properties breakdown that would be super helpful. LTR is pretty simple but this is new to me so a breakdown love sample would help ALOT. Feel free to removed property specific info and address etc!

I'm not seeing the numbers so far; i see listings (with MLS access) that say for instance

Price 475 asking - say i pay 450... generated income they say is over 50K, which i average that at about 4400/mo (sure it could be more but dont' know right now). anyway, without getting too detailed, by the time you add the whopping $550/mo HOA and 10% PM along with the other opex's that is no where near cash flow +. I am basing this off of a loan with 10% down (VA) -- but even if you did 20, it's the same boat really.

??

Matt, guess i was confused at initial look say they get 10% on short term on average; has to be higher than that -- at glance 50K/yr on a 500K home sounds good until you factor in the ridiculous HOA fees around here (for the beach condos and others in general).

thx