All Forum Posts by: Dan Leyden

Hey Nadar, 

You're 24, anything you buy over time will be a deal. Put it into perspective, if you have a 30 year mortgage by the time you are 54 you'll have a completely paid off property (as long as you dont refinance). Thats pretty awesome. 

In terms of calculating the deal, there's a bunch of ways to work the numbers to make properties not a deal. Maintenance and vacancy of 25-30% seems extremely high. In the last 10 years I haven't had a single tenant move out. How are you coming to these numbers? Most of the time I use 5% of gross rent for Capex and 5-8% vacancy. I look for at least a 10% cash on cash return after all expenses, management fee, vacancy etc.

My advice is find a solid property that doesn't need a ton of work up front and pull the trigger. Get your feet wet. 

I used to take it how ever the tenant wanted to pay. As I've scaled I've started using Tenant Cloud to keep everything organized. I found it was the easiest for me and tenants to use while not being a huge cost. 

@Kathy-Ann McCollin happy to chat about different areas we invest in! Our main focus is along 95 in Fairfield county.

Love it! Thanks Destine! I hope I can make it. 

What ever you do, do not pay any money prior to close. You can agree to assume the tax debt to pay off after closing. 

Would you buy the property at the price they are offering with the current rent roll? Can you put the money to work somewhere else better?

Investment Info:

Townhouse buy & hold investment in Bridgeport.

Purchase price: $60,000
Cash invested: $60,000

Loved buying this property. Had been recently renovated with light updates needed. Have had long term tenants since I bought.

Investment Info:

Single-family residence buy & hold investment in Bridgeport.

Purchase price: $41,000
Cash invested: $41,000

This was my first project. New kitchen, bath, windows, floors etc. Have had a long term tenant ever since.

@Jorge Cajamarca students are a little different. Put a coin operated one in?

@Jorge Cajamarca I provide the hookups, however they need to bring their own unit. It’s just another item to have your tenants call if it breaks. Your water bill is going to also go up.