All Forum Posts by: David O.

Way to go! 

@Shawn Thom

 Could not agree more. I believe in business planning but find "writing a business plan" to be an exercise in business masturbation versus going out and doing the real thing. Set a goal, go do a deal and repeat. 

@Jared Borgwardt

Ever tried steering a parked car?

You're mission statement and vision are fine just go execute...Why do you need the written plan? Better to write down your goals...I am buying one house by 07/30/2015 that is 70% of it's ARV less the rehab costs. I will rehab it and sell it by 10/30/2015.

Then write a list of anything stopping you. Then what are some various ways to overcome those challenges. I don't know about you but that writing assignment fires me up a lot more then the other.  

Hi Steven,

Welcome to BP what type of investing interests you? Do you have any goals you want to share? 

Hello, 

I am looking for lenders that will lend short term 4-6 months based on 75% of ARV. We are rehabbing single family residential properties, finding tenants and refinancing out our short term lenders. My partner and I have a track record of success.

Thanks Much! 

David 

@Engelo Rumora I like the "tweak" our lease agreement reference. 

Do you absolutely have to sell or could you do a rent to own? Is the property in Toledo? In Vermont we had a magazine called "Picket Fences" that was all for sale by owner. I would search FSBO in Toledo and see what the top search results yield.

Tom, 

Is @James Wise aware of that. Or @Engelo Rumora I know those are a couple of guys with there ears to the ground. What's the synopsis of the bill? Do senators actually read what there signing? 

Hi Jacob, 

Have you found any strategies that fire you up yet? I am most excited about building a portfolio of buy and hold single family residential properties. I have found the podcast very useful and entertaining. Let me know if I can assist. 

Bump

If we assume 80k is fair market value

Annual Gross Rent  16,800

Taxes $5,328

Water: 250 (can we have a tenant pay this?)

Insurance: 900

Prop Management 10%: $1,680

Cap EX @6% (this really depends on condition of house): $1,008

Maintenance and Repairs @6%: $1,008 

Total Expense: 10,174

Net operating income: $6,626

P and I on 80,000 @30 year 5%: $5,148 

Cash flow: $1,478 annual cash flow $123.16 per month 

I don't really like the looks of it especially if you have no equity.