All Forum Posts by: Doug Caminita

I’m looking for an insurance agency that has experience writing storage unit properties in central Missouri?

Thanks in advance.

@Bob Floss II - I sent you a DM for more info

@Bob Floss II

Who did you use to set this up?

Hello -

I own a few properties and am involved in a couple of syndications.

Recently, I spoke with Anderson Tax Advisers regarding my asset protection setup.

They recommended a Wyoming LLC as a holding company and for anonymity.

Then each of my properties/syndications in its own individual LLC or land trust in its respective state and owned by the holding company.

My question... how much of this is necessary?

Does anyone have any attorney recommendations for this type of thing?

Thank you!

Hello -

I’m looking for recommendations for a realtor in the Dallas/Fort Worth area that has multi-family experience.

I need to sell a duplex in the Richland Hills area.

Thank you!

@Kenneth Reimer

@Jaysen Medhurst

I clarified some details with the seller and mortgage broker. This is more accurate.

Currently, the utilities are already split.

As for upcoming costs, there is $12k in immediate repairs needed (multiple small items) and the big expense is 7 furnaces and 2 AC units at $4k each ($36,000 total).

1. The upcoming expenses piece is the part I’m struggling with how to factor in?

2. What does the Cap Rate work out to be?

3. What could I expect for my monthly cash flow?

Revised details:

Annual Rents: 92,340

5% vacancy: 4,617

Taxes: 9,000

Insurance: 6,000

8% Property management: 7,387

7% maintenance: 6,140

Debt service: 42,488 (30yr, 20% dn, 5.875% int)

Lawn maintenance: 1,685

Electric bill: 275

Net: 14,648

@Cassi Justiz

Thank you for your input.

That is the insurance rate that was quoted.

I was also surprised by the loan terms, but was able to confirm that they are realistic through this particular broker.

Hello - 

I am looking for some assistance in reviewing the financials for a 10-plex deal in Oklahoma City, OK.
What am I missing? Is this deal worth pursuing? 

Details:

Sales Price: $750,000
Seller Offer: $5,000 in closing cost
Class: B+

Rents: $7,695 (100% Occupancy)
Repairs: $12,425 (Immediate)
            $36,000 (Future - Furnace replacement)
Property Management: 8% of rents
Taxes: $9,000/yr
Insurance: $6,000/yr

Financing Terms: 20% down, 30 years, 7%
Monthly payment: $5,241

Annual Rents: $92,340
Loan Repayment: $62,892
Property managment (8%): $7,387
Vacany (10%): $9,234
CapEx (10%): $9,234
Net cash flow: $3,593

@Mike M. Thank you for the reply! All of my investments are out of state at the moment. Texas and NC currently. Eyeing Tennessee and Oklahoma next. I sold my property in NOLA for the exact reasons you listed.

Hello - I began investing in real estate in 2016 and currently own three investment properties with a total of ten units all purchased using a turnkey company. The properties are each financed and have some cash flow, however they are mostly setup for long term appreciation. The plan I originally had in mind was to acquire ten properties and then beginning paying them off and continue to acquire as I pay one off. Based on the properties I own, I am beginning to rethink my strategy and consider adding higher cash flow, lower appreciation properties to my portfolio to aid in the future pay off strategy. I am open to new ideas, however different they may be, regarding a long term vision/strategy for property acquisition and pay off. Thank you!