All Forum Posts by: David Hammill

@Account Closed I like your reasoning.  

@Caleb Heimsoth solid advice.

@Account Closed

@Aaron Cullen thank you for taking the time to help.  I see where my weak spots are and will make sure to strengthen them for the next analysis that I share.

Is was freshly rehabbed.

I imagine if I ran it with the "8% CapEx, 8% Repairs, and 10% Vacancy" the cash flow would be negative.

What I'm learning and one thing that stuck from @Jay Hinrichs podcast #222 is that if it's on the MLS I'm going to pay retail.

Thank you for your time.

@Bill F. 

Not sure why there is a difference in rent. I estimated the CapEx and Repairs. It was just recently rehabbed.

With that being said I agree that having better estimates would help me in the long run.  I will spend the rest of this week finding a way to better estimate those.

Also, thank you for pointing out the 3% appreciation.  This was another estimate.  I will also spend time finding out how to better understand this.

Thank you for your time.

@Caleb Heimsoth

Taxes are actual. Its under a 10 year abatement. Insurance was an estimate.   I see this Wednesday and will have a better idea of condition.  It was freshly rehabbed which.

Thank you for your input. 

@Russell Brazil

Dear BiggerPockets community,

I came across a nice little deal.  8 units in North Philly.  2 are commercial and 6 are residential.  One of the commercial units is a laundromat grossing $2800/month.  The owner is willing to include all the equipment in the deal.

As of right now I don't know anything about laundromats.  Before I move further I would like to educate myself.

I'm reaching out to see if you or anyone you know owns a laundromat?

Can I please have their info?

I would be more than willing to take them to coffee or send them some badass books on expanding their consciousness if they are willing to help.

Best,

Dave

@Brandon Turner

Dear BiggerPockets Community,

I'm looking for advice on this. I'm paying retail price because I found it on the MLS. I will be seeing this property Wednesday. Not sure how much wiggle room there is from the seller but there is only one way to find out.

I don't need the cashflow because I have an excellent w2 income and would rather use the cashflow to pay down the mortgages faster.  With that being said there isn't much cash flow here.  When I ran the report on a 15 year it did not have any.

Grateful for your help,

David

View report

*This link comes directly from our calculators, based on information input by the member who posted.

@Jay Hinrichs

@Teri Feeney Styers  I like your approach and agree "There are almost always buyers or renters for clean, affordably priced homes or units."  Great article @Frankie Woods.