All Forum Posts by: Stefan Forsberg

Welcome,

Just joined myself a few weeks ago and this is a great place to be.

I just want to second Charles comment on the 2% and 50% rule. These are in my humble opinion great rules to live by. Do some searching for additional info but in short they are as follows:

2% Rule, the gross monthly rent should equal 2% of the purchase price including repairs.

50% Rule, 50% of the gross rent goes to operating expenses, the other 50% should cover your debt service (Principal and interest) plus your profit.

Enjoy the forums, there is a wealth of information here.

//Stefan

Very interesting topic. How much detail do you put in to your balance sheet? I don't put regular monthly expenses such as gas, groceries, electricity etc, these to me are part of the household budget and don't belong on the balance sheet, am I going about this all wrong?

I'll jump in,

Still new to the game but my goals are as follows:

Finish building the team, still need a few contractors and a great accountant

Do at least two fix and flips to build cash

buy and hold one of Duplex, triplex, quadplex or smaller apartment building (6-10 units) for cashflow and wealth building.

Hi Mike,

Fairly new here and haven't sold any myself but when talking to my real estate agent she recommended a few things:

-Throw in some bonus stuff like a 500$ flat screen TV to set yourself apart from the competition.

-Always have the nicest and cheapest house in the neighborhood

-try to find a mortgage broker that you can recommend the people that don't qualify to and Lease option the house to them for three years (with a good non refundable down payment), have them work on their credit with your broker so that they can refinance you out three years from now.

Just a few suggestions....

//Stefan

Hi Edward,

Likewise, looks like we are pretty close..

Thank you Bryan,

I see you are from the burnt orange city :) love Austin but my heart bleeds maroon

Hello,

Semi-new investor from Dallas, TX. Currently have 2 rental properties that cash flow nicely but would like to grow the business to include fix and flips and eventually commercial/apartment buildings.

Love this site and look forward to meet lots of likeminded folks....