All Forum Posts by: Dillon Marshall

thanks for all the help. 

14 bed 

10 bath

I feel the # works any one want to do quick look

$575,000  asking

$7600   Montthly income

$18500 Taxes

$10,600 expenses

Cap rate 10.8%

$62,340 Noi 

Do  my morgage payments look like I figured them right?

$100,000 down

$475,000  mortgage

$23,750 yearly Morgan payment

$1,971 monthly payment

Helpful if any one knowes RI

well as I see I personally dislike Gina raimondo way of running the state. More and more people are moving out of Rhode Island. As you can see we are on the brink of losing a house seat. First thought was to invest in ri or in a different state where there is a growing influx of people.  

Unfortunately I was not  smart with my money. I should have started investing in 2014  but when I started invest the bank rules were so strict and couldn't jump through all the hoops. I ended up buying a $40,000 property with cash. And got discouraged and spent the last 4 years fixing it. Put another $40000 into it.  now it's estimated value is $230,000. Not a bad return on my money. But could have use that money to buy 10 houses before the market went this high.

Other thoughts are to invest in a market  where houses are $50,000 where I can fund the whole deal with cash .  Once I have the property renovated and rented. Get a Cash out refinance and start over. 

I've been looking at this new thing called opportunity zones where you invest your money for 10 years and if you sell its text free when you sell.   looking for a growing city not a declining City

I've heard of people opening a business .  Going to small local banks and getting lines of credit .  And use use that as their down payment. 

Risky but if you got enough cash flow to cover both mortgage and line of credit payments. 

living in Rhode Island looking to invest. Trying to decide whether to invest local or out of town

Possible option is to drop the property management.  Yes it's a little more work but  it will get you closer to cash flow .