All Forum Posts by: Dayne Delano

Thanks for your input @Mike S.!

I was just reading about this on BP! It was an interesting concept.

Thank you @Axel Meierhoefer for your insight.

Truth is ...happy wife happy life, Right? If my wife got her way she would choose to roll the equity to a bigger home for the fam. Perhaps shes right.

I have 5 kiddos I hope to get through college [and life] 4 of them girls I’d imagine ill have a wedding or two down the road. Just trying to be pragmatic and play the LONG game [If needed] when it comes to growing the family cash pile.

@Kevin Romines

Thank you for your insight Kevin.

Bad math on my part, apologies.

2134 total expenses

2450 proposed Rent

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$316 monthly cash flow

@Dan Heuschele

So Refi rates look pretty attractive. I plan to refinance & beef up my figures below thanks to Dans cash flow insights. If you have a moment, please shoot holes (critique) my cashflow numbers. Where do I/should I add/subtract my monthly figures.

$608 Property tax (high because county bonds)

$83 landlord Insurance policy

$245 Property Management @ 10% Rent

$590 Mortgage

$118 H.O.A

$245 vacancy fund @ 10% Rent

$245 repair fund @ 10% Rent (both capital & maintenance)

2294 Total expenses

$2450 proposed Rent

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$156/mo estimated cash flow

@John Mocker

Thank you John for your insight

@Stephen J Davis

@Anthony Wick

Thank you for taking the time to give your input

@Anthony Wick

Rent.com, zillow (open to your suggestions on more comp sites)

The clubhouse is amazing including 4 pools, indoor basketball court, arcade / gaming room, 3500 sq ft gym with everything you could find with a paid gym membership.

I apologize, after looking a bit deeper at some rental comps in the same community, I found one advertising the clubhouse! And they were about +$100/mo above comps outside the community (without access to club). This is great news from a cashflow standpoint.

Just wanted to get some perspective from you guys on this. High speed Internet is provided for free in this particular community. Yet the rental comps in the area do not offer/advertise this.

Would a renter pay up for internet and or clubhouse access included? Perhaps an additional $50-100/mo. Would it be worth taking on additional risk, like a renter who caused trouble or damaged clubhouse property? Just wanted to explore your experience and ideas.

Thank you.

@Fred Shatzoff

Thank you for your insight Fred.

I’m curious how much time a lender needs to see a mortgage covered by rent before we would qualify for another loan on a DIFFERENT property. Or perhaps there may be a way around this?