All Forum Posts by: Dan Falcon

Thanks Donald! Really appreciate the info 

@donald

Hi Everyone,

So I am not a "new" member but I have yet to participate on the social aspect (and most important aspect) of bigger pockets. Several years ago I became excited at the prospect of real estate investment. Since joining BP a few years back, I worked hard to eliminate any and all debt I have and built my credit score to 800+. Concentrating on my 9-5 job, I made enough money to begin investing in SFH's in the Florida market and low and behold a few short years later I have 6 rental properties that cash flow nicely! The past few years have been scary and exciting all at the same time and I cannot wait to jump onto my next RE project! That being said, if there is anyone out there in the NYC area that invests in apartment complexes out of state and would like to have dinner on me, please send me a message! I would like to pick your brain and perhaps exchange ideas! Thanks in advance and a BIG thank you to all that contribute to this community. Without the advice and knowledge, my financial future may not look as bright as it does today.

Thanks!

Dan 

Thanks Brandon Turner! I do plan on holding onto the property for the long term. My 9-5 luckily has afforded me enough income to begin down a path to a stable future. What would you consider a respectable ROI?

For this deal after running my numbers, it looks like I will see a 20%+return on the cash I put down the first year. Beats the bank!

HI BP,

I am new to posting on BP. I have been doing a TON of reading here and it has been nothing but a great source of information and inspiration!

After several months of learning, I am finally ready to make my first investment but I am shaking in my boots.

I have been prequalified for financing conventional 80% ltv 30 year fixed, picked out my target area and did my due diligence. Found a SFH with a long term tenant in place, willing to stay. Property is in a busy college town, rents for 1k a month,(comps rent for about $100.00 more) tenant pays all utilities and takes care of lawn. Since the property is within city limits, town takes care of waste. Taxes are cheap .. a shade under 1300. Price of the home is about 113k.

Are there any questions I should be asking? Is this a good deal? Any help would be much appreciated! Thanks in advance!

Dan