All Forum Posts by: Duncan Stafford

Hi everyone.

I’m looking to connect with wholesalers and investors who have a lot of off market properties. We are growing here in SoCal and looking to expand our network.

Duncan

@Drew Sygit

Thanks Drew!

For everyone in here already, do y'all have any reliable contractors that you would recommend?

@Hersh Shah

Thanks for the information, we will definitely be looking at the worse houses in order to meet our initial purchase price requirements and if needed might look at other areas outside of Atlanta for now until in a position to buy at higher prices.

Does anyone have good, reliable contractors that they work with?

@Alyssa Melotik

Thank you for your help. I do unfrtdsnd that Detroit snap very area specific. Keep me posted on how your hunt goes and i will look at the areas you mentioned.

@Miranda Micire

Thanks for the offer, right now we are looking to be a bit more hands on with the brrrr strategy, but if some great deals come your way, feel free to share them with us and we can talk about an equity partnership.

Hi all

My wife and I have just completed our first real estate investment. We bought a SFR here in SD (primary residence) fixed it up, added an ADU which we now rent out and just refinanced.

We are now looking to put our equity to work in some out of state rentals using the BRRRR strategy. After much research Atlanta has come up as an area to invest due to city growth, job growth and a lower cost of entry into the market compared to other popular options.

We are looking to connect with wholesalers, realtors / investors and some trusted contractors to embark on purchasing some properties. Ideally looking for Multifamily but will also consider SFR if the numbers make sense.

Look forward to hearing from you soon.

Hi all

My wife and I have just completed our first real estate investment. We bought a SFR here in SD (primary residence) fixed it up, added an ADU which we now rent out and just refinanced.

We are now looking to put our equity to work in some out of state rentals using the BRRRR strategy. After much research Cleveland has come up as an area to invest due to city growth, job growth and a lower cost of entry into the market compared to other popular options.

We are looking to connect with wholesalers, realtors / investors and some trusted contractors to embark on purchasing some properties. Ideally looking for Multifamily but will also consider SFR if the numbers make sense.

Look forward to hearing from you soon.

Hi all

My wife and I have just completed our first real estate investment. We bought a SFR here in SD (primary residence) fixed it up, added an ADU which we now rent out and just refinanced.

We are now looking to put our equity to work in some out of state rentals using the BRRRR strategy. After much research Detroit has come up as an area to invest due to city growth, a rebounding job market and a lower cost of entry into the market compared to other popular options.

We are looking to connect with wholesalers, realtors / investors and some trusted contractors to embark on purchasing some properties. Ideally looking for Multifamily but will also consider SFR if the numbers make sense.

Look forward to hearing from you soon.

Hi all

My wife and I have just completed our first real estate investment. We bought a SFR here in SD (primary residence) fixed it up, added an ADU which we now rent out and just refinanced.

We are now looking to put our equity to work in some out of state rentals using the BRRRR strategy. After much research Pittsburgh has come up as an area to invest due to city growth, job growth and a lower cost of entry into the market compared to other popular options.

We are looking to connect with wholesalers, realtors / investors and some trusted contractors to embark on purchasing some properties. Ideally looking for Multifamily but will also consider SFR if the numbers make sense.

Look forward to hearing from you soon.

Hi everyone,

This is my first post and I'm new to real estate investing. Having read several books I've been crunching the numbers on what has become our first real estate investment. Adding an ADU to our SFR and then renting out both units. The numbers I came up with her exceedingly good so wanted to check I had done them right.

Purchase price - $480,000 (Nov 2018)

Own money spent - $96,500 (combination of cash / loans but all paid off now)

Income: total rent - $4,800

Expenses:

Mortgage, taxes, insurance - $2,600

Vacancy - $150

Repairs - $100

CapEx - $237

Water & Gas & electric - $84 (percentage paid by me)

Property management - $330

Total - $3,501

Annual cash flow - $15,588

CoCROI - $15,588/$96,500 = 16.1%

Total ROI:

Current house value - $600,000 (conservative)

2% value increase per year

House value in 5 years - $662,448

Sales expenses - $38,122

Loan pay off - $426,673

Total invested - $96,500

Profit - $101,153

5 year cash flow - $77,940

ROI - $179,039/$96,500

=1.8559/5years

=37.1%

I haven't added in the mortgage cost for the 18 months we were living there whilst work was being done as this would have been an expense we would of paid anyway even if it wasn't an investment.

Let me know your thoughts and please highlight any errors.

Regards

Duncan