All Forum Posts by: DeVante Winn

Hello all,

So I just started using propertyshark to gain more information on multi-family homes in my area. I came across a wierd situation a couple of times but none as drastic as this: a house is on sale for $145,000 but when I looked up the property on propertyshark the total value is around $86,000. Honestly I don't really know what to make of this situation. So if you use propertyshark how would you handle this situation? Furthermore is propertyshark a good source for information?

Hey I'm pretty new as well. This is a great question and something i would also like to know. From the properties that I've analyzed in the same area the 2% rule just isn't there. Although Ive searched for multi-family homes. So I set my criteria to 1.5%, BUT it has to cash flow well. And like I said I'm new so I might not be doing the right thing so I would like some feed back on this subject as well.

@Chris Soignier @Account Closed

Thanks for the input you guys

Hello All,

So I was driving around when I saw this 4-plex with so much potential. I'd like to get a hold of the ones who own this property, but I don't know how. Does anyone have a good way to track down the owner?

@Jeremy Vassalo ok that makes sense. So what I decided to was take 10% off the rehab costs to compensate for CapEx. Thanks for the clarification

it's on the MLS

@Dustin Beam thanks! 15% CoC is a good start I think as well. I do have one question: the property is listed at $249,000. I did my calculations on buying the property at $174,300. Is this a realistic calculation on purchase price or am I way off base here?

Thanks for pointing out all of these errors I've made. @Jeff B.  So you guys were right about the taxes and insurance. I was putting the monthly total for the annual. @Sam LLoyd The extra $2600 was an input mistake, so I just totaled the rent and put it in one pot. @Jeremy Vassalo As far as the vacancy rate goes, I'm just getting started so I just kind of assumed 10% would be a good number. So thanks for pointing out 5% is a good average number. Also I didn't realize CapEx can overlap with Rehabbing costs. Is there a percentage of the rehabbing cost you usually figure into CapEx?

Thanks again for all of your input I really appreciate it. After making the appropriate changes, as well as reducing rehab costs to $10,000, cash flow went from $3,454 to $682 monthly. It's a lot less but I'm glad this was brought to my attention sooner than later.

Hello All,

So this is my second week into the RE game. For the past 2 weeks I've been reading up and trying to gain a basic understanding how it all works. In my studies I've heard that one should analyze at least 3 properties a day. So I went and got a basic understanding on how to analyze property. If anyone would be so kind as to critique my numbers and give feedback and insight on what I did wrong I would greatly appreciate that. I stuck to the rules to come up with some of the numbers(70% rule, etc.) but I got some of the hard numbers from realtor.com

Thanks for the welcome guys. It's nice to see that this is a welcoming community ready and willing to help out the new guy.