All Forum Posts by: David K.

Here's the quick way I've done things...please feel free to shoot holes in my quick, non formal calculator for investment property.

I put down 20-25% down.  If the property is a 3 family and the rents of 2 units cover the cost of all the fixed costs i.e. "mortgage, tax, insurance, water, sewer" I figure its not a bad deal....

fire away!

Hey Guys-

I've got a 3 family hallway (3 levels) that hasn't been messed with in awhile.  There's some peeling paint, cracks in drywall etc.  Painter wanted $1500 to fix and paint.  I'm thinking I can do a less than stellar job by myself in two days.  Won't look as good, but nobody even bothers to vacuum the areas, so I'm thinking why spend the $$$......thoughts?

Nice work! I'm 37 now, tried doing the same thing at your age.  Problem for me was the market skyrocket in such a short time, I was priced out.  I'm liking your paying things off strategy.  That way you'll never really overextend yourself.

Everyone is looking out for what's best for them, that's Capitalism!

Paid 90k, put 15k into it and a few weeks of labor.  Refi'd, got all my money back and a little extra.  Net $1050 monthly when fully occupied.  Key for me is using zero of my own money in the end and still having a healthy net.  

I usually like to paint everything one color in hallways.  I haven't touched one in a decade and want to do it over.  Looks like some sort of light blue......

If the house is something sought after by others all cash no contingency with a quick close will get you the deal 9/10 times.

Personally I never skimp on paint.   Painting a whole apartment how many gallons of paint are we talking about....10?  I paint all the walls one color and all the trim another color.  Takes one coat with a good quality paint!

Personally I never skimp on paint.   Painting a whole apartment how many gallons of paint are we talking about....10?  I paint all the walls one color and all the trim another color.  Takes one coat with a good quality paint!

Great start, wish my first went that well!