All Forum Posts by: Brian Karlow

Thanks guys! Yes, my plan was to manage myself. Landscape and snow removal...dang, I completely missed that one!!

What insurance numbers have you guys seen for similar properties?

Brian

Thanks Victor!  Your feedback is at the root of my concern...the amount of repair money does make it a slim deal should I have any budget over run and therefore limiting my exit strategy options.  Yes, buy and hold long term would be the objective however I still feel cautious about the repair price tag.

Thanks for sharing!

Brian

Thanks Crystal! Water/sewer will be paid be the tenant.  What are you thoughts on the deal as a whole?  What I am debating is whether or not investing almost $70k of my own money is the best use of this amount of cash based on the return.

I've grown my SFR portfolio and would like to scale up in property types to multi 2 to 4 or even larger 5+.

Thanks for sharing!

Brian

Good morning! I'm looking to bounce the numbers off the members on a deal I am close to having under contract in the northwest suburbs of Chicago. "A" location with a "C" property ( in it's current condition). These are the quick numbers so here we go:

Acquisition                                     Rental Projection

                                                       INCOME MONTH

Purchase price - $133k                  gross rents monthly- $1,100 x 2 = $2,200

Closing - $3k                                  EXPENSES MONTH

Repairs - $50k                                Taxes - $660

All in = $186,000                            Insurance - $50

ARV = $200k                                  Cap Ex - $110

                                                        Vacancy - $110

                                                        Repairs - $110                                

                                   Expenses less debt service = $1,040

                                      FINANCING

30yr term 5% = $100k P/I = $535

All feed back is really appreciated and welcomed!!  Thanks for everyone's time. Have a great day.

Brian

NW burbs/Schaumburg meet up sounds excellent...count me in!

Brian

Sebastian

I have not seen any posts regarding it but I would be very interested in attending if there was! Maybe we could coordinate and get something going? 

Any interest from other members out there?

Brian

Congrats!  Sounds like you've landed a great deal!  I'm currently under contract on my first Fannie property as well and I am also representing myself as the agent.  Let me know if there are any hiccups getting paid the commission or any advice on collecting it.

Also, you mentioned they replaced the carpet and stove.... was this something you negotiated or was this an unexpected improvement?  Just curious?

Brian