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All Forum Posts by: Dennis Moore

Dennis Moore has started 4 posts and replied 15 times.

I'm just practicing making deals on paper. But I have no handyman but I'll probably do some of the work myself like floors. Otherwise the bigger things will definitely be the professionals. I'll have to reach out to a property manager to make sure rents are those I know a few people in that area and those are around what they pay. It's a four Plex with 2 one bed and one bath. And the other house is one 3bed one bath and a 2 bed one bath.

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

Had to redo this deal now I feel like this is more realistic.

Thanks @Nikki Senopoulos I'll definitely check for the taxes. Thank you! 

Originally posted by @Brent Coombs:

@Dennis Moore, no Property Management Fees?  If the neighborhood is as bad as the purchase price suggests, you need to also include a realistic initial Renovation cost, and even more importantly, a monthly allowance for Maintenance and Cap Ex (say, 10% for each, and the same for Property Management).

What's that?  You want to manage the Property yourself?  OK, but pay yourself for that!  

Also, how did you arrive at (only) 5% Vacancy Allowance?  

One more thing: Will it really rent out for $2,300/m?  Cheers...  

 Ok thanks a lot I will definitely go back and redo. The 2300 a month is from it being a four Plex. And yes neighborhood is a little sketchy.

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

I just really feel like this COC Return and Yearly Earns are to good to be true. Wanted to make sure there isn't a mistake in calculations.