All Forum Posts by: Dale Byram

Hey @Thomas Hundtoft,

Here are the numbers I am coming up with. What am I missing?

https://www.biggerpockets.com/calculators/shared/1427272/6d194a76-3369-4c69-b875-87d182c5ab3f

Yeah, however we had an offer out on a 4 plex that got accepted. So I've been preoccupied. If the 4 plex goes through our capitol would be tied up for a little while. I would probably not go over $130,000 though. $160+$10 isn't even 1%.

@Thomas Hundtoft 

@Thomas Hundtoft thanks for the lead. I'll check it out, and keep you updated.

@J Rohman I would tend to agree with you about GJ. No deals on the MLS. We are trying some direct mailing right now, but haven't had much success so far.

@Daniel Dietz, I would be interested to know if you are/will put any money down? And how does earnest money play into this?

I am currently working on my first owner financing offer and appreciate the advice/experience.

@Aaron H. Ok, thanks for the input.

@Lesley Resnick so glad you are documenting this. Excited to see where it goes.

The idea of the 50% rule is, that 50% of the gross rental income is/will be all of your expenses. So the taxes are "included" in the 50%.

IMO, if you are solely using the 50% rule to determine your cashflow that is not an accurate method. The 50% rule is just a "rule of thumb" and shouldn't solely be used to make a decision. If you haven't seen/used the BP calculators (https://www.biggerpockets.com/real-estate-investment-calculator), they are super helpful and educational. And will help you break your expenses down in more detail.

I am looking at a quad in Grand Junction Co. The seller is open to seller financing. My question is, what is normally included in the initial offer? How detailed should I get? Obviously the buyers purchase price amount would be included, but what else; interest rate, amortization or balloon, down payment, ect.?  

@Bernadeau C.

Love the "Richest Man in Babylon" reference.

And I totally agree.