All Forum Posts by: Deren Huang

Has anyone tried the grout-able peel stick? 

I have a friend that has just put that in, and it looks really good, just got tenants in there so time will tell.

There's different ways to skin a cat, no wrong answer. But from personal experience the best way to light a fire under your bum is to get a house under contract. 

You will call every single lender, general contractor, insurance agent, closer in 30 miles...

welcome to Tulsa! Always good to see a fellow OKIE

If you love cold calling look into Mojosells.com

Mojo's multi-dialer is really powerful, but the leads aren't so great.

Cole Realty Resource is a Circle prospecting tool that's the premier in finding those numbers (1 year subscription)

I personally used Vulcan7.com, the leads are one of the best, but of course still has those fax/disconnect lines, they only reserve a limited amount of spots that they give leads to and it is an auto-dialer with FSBO and Expired all in one package.

Redx is probably the best out of the original 3 though

Just run the numbers to see if at asking price is a decent deal

if yes, make another offer

If no, move on to find the next deal

Does anyone else's Calculator look a little different? I had been using it for a little bit and it suddenly changed.

The "Acquisition" tab used to look like this (taken from youtube video that Brandon did)

But now when I pull it up it looks like this

The Refinance tab is fine. Anyone else's like this?

The best way to find out is to ask!

Here in Tulsa, we have a local HML, Charges fees upfront to file the mortgage, 12.75% on a 15 year note and if paid in the 1st year a 1% pre-penalty payment.

Gross: 9500 x 12 = 114,000

Operating Expenses = 4013 x 12 = 48,157 (calculator excludes the mortgage, acts if it was bought cash)

NOI = 65,843

65,843/600000 = 10.97

@Christina McManaway thanks for the response

Property management is included in the 9500 

(the property manager gets free rent on a 2/1/1)

2/1/1 gets average of 650 (3,200)

3/2/1 gets average of 800 (6,400)

These rental rates are older also.

7 duplexes and the investor wants out

C- area, most tenants are section 8

(4) 3/2/1 and (3) 2/1/1

Seller can finance, his terms: 10% down, 30 year @ 6%, 3 year balloon

Purchase price: 600,000

Appraised 10 years ago at 107,000

Has a property manager that helps "collect and deposits rent, handles leases for new tenants, schedules inspection for section 8, and finds some renters"

The owner has not raised rents in 2 years also..

These are rough numbers for the duplexes right now, I believe there is a lot of potential for force appreciation: raising rents, separate water meters, finishing garages (since section 8)