All Forum Posts by: Dax Squillante

Thanks All I appreciate your help. I think I could bump the rent on the 3/2 to $1100-1150 without losing the tenant and keep within market range. I think the 2/1 is pretty maxed out at the moment. @Mike, after your breakdown I am thinking you are right at $200k as a goal, just not sure that's doable here. Certainly doesn't hurt though, going to offer $200k and see what happens. 

Thanks Mike, now you really have me thinking. 

Management - 10% ( $200) 

Utilities - All Paid by Tenants. 

Property Tax - $50/mth ( gotta love delaware) 

Insurance - $90/mth 

Vacancy - 5% - $100/mth

Maintenance 5% - $100/mth 

401k Loan - $433/mth

Looks like that is about $973/mth + Principle and Interest.  It looks like break even at best at least initially while I still have the 401k loan. The property is in great condition, and in a great area for tenants and appreciation. If I can negotiate the sale price further down at what point would this make more sense? 

Hey Mike, thanks for your input. Question for you, how are you coming up with 35-45% for non debt related services? I am assuming you are referring to Vacancy, Maintenance, Management?

Anyone have any input? 

Hi All, 

Close to pulling the trigger. Clean Duplex listed for $250K. Unit A) 3 Bed/2Bath Unit B) 2 Bed/1 Bath.  Both units are rented for $1000/mth. Planning on using a 401k load to fund my downpayment. The 401k load is $433/mth for 60 months and even with that hit this still looks like a winner when I crunch the numbers. Can anyone take a look and let me know what you think? Thanks so much. 

Hi All, I too am from lower Delaware and will be purchasing my first property very soon. Just curious to see how my fellow local investors are doing with their properties? Do you attend the delreia meetings?

@Vincent Garman Hi Vincent, are you still active in investment properties in and around Dover? If so please reach out to me. Thanks.

Hi John, Did you ever land that first property? I too am from Delaware and looking for my first property. My first DelReia is this Thursday so hopefully I can network and build some lasting relationships.

Hi, newb from Sussex county here. Going to my first delreia meeting Thursday. I’ve been looking to purchase my first rentals in Sussex or Kent county. If you are still active, don’t be shy.

@Janae B. Hi fellow Delawareans, first post and attempting to bring the thread back from the dead. I’ve spent the better part of the year researching and learning everything I can. I’m looking to make my first deal Q1 2019. I see most of the historical activity is upstate, anyone have experience downstate? Specifically Sussex county? Mainly thinking rentals at the moment to get my feet wet and get things going. Any advise, interest, tips for the lower slower would be greatly appreciated. Thanks,