All Forum Posts by: David Keller

@Matthew Peachey

Thanks for the reply. I decided against that property and did not buy. Always looking though.

I was reading your profile, appears you have lots of experience in real estate. Im still very new but eager to learn. I would live to chat sometime, online works.

Thanks again

David Keller

Im new to real estate investing. Searching for real estate investors in the Iredell Co, NC area. Hoping to talk/discuss in hopes of learning more about the real estate market and business in general. Possibly offer my services for mentorship.

I think i did math wrong. Mortgage is $510/mo or $6120/yr. 

Doing math again 2700- 6120 = $8820.

This would leave me $180 cash flow/ yr. I believe this is the correct math. Not as appealing :-/

Ok jacob. Using your formula and on diff potential property. Cost for 2bedroom 1.5 bath condo recently renovated sells for $60k. Potential rent is $750/mo. 

$750/mo x 12 mo = $9000

$9000 -30% = $2700

$9000 - PITI = $510

Therefore $9000/yr - ($2700 - $510) = $5800

Does this math look correct? If so this property shows upside?

I have a potential property listed in Statesville, NC for $160K but realtor says $140. It a  brick 1 story duplex with 1 tenant in place and they pay $500/mo. the second apt vacant but typically rents for $600/mo. I have to pay h20/sewer which $10-20/mo and the property tax is $1100/yr. HVAC new in 2013 and just serviced last week. Front porch replaced last year. The location is not the best but def not the worse by any means. 

Im assuming vacancy is about 8% and maintenance/repairs another 5%. Again being a newbie and trying to work in all the calculating formulas available I wanted to gather everyone insight and opinion on the property. What if any additional info do I need to ensure im figuring into this to ensure im getting a good deal.

Thanks gain for your time in advance.

David Keller

Newbie into real estate. Im in the process of securing a loan for the purchase of my first piece of investment property. Loan officer suggested i have up $70K in a heloc that i could use to purchase a house. What are the advantages/disadvantages with buying a low cost $30-$50k single family home in full rather than getting a bank loan paying 20% down. I clearly understand having as little as possible of my personal money involved/at risk is an advantage, but what are the other pitfalls or upside that i may encounter with heloc purchase rather than bank loan?

Newbie into real estate. Im in the process of securing a loan for the purchase of my first piece of investment property. Loan officer suggested i have up $70K in a heloc that i could use to purchase a house. What are the advantages/disadvantages with buying a low cost $30-$50k single family home in full rather than getting a bank loan paying 20% down. I clearly understand having as little as possible of my personal money involved/at risk is an advantage, but what are the other pitfalls or upside that i may encounter with heloc purchase rather than bank loan?