All Forum Posts by: Elsa M.

Thanks Russ, but I'm not sure I want to create an LLC with only one property, perhaps later on when I have more rentals.

Hi everyone,  quick question, once the rent is paid, what do I do with the money from "variable landlord paid expenses" (calculated by BP rental property calc) like Cap Ex, repairs, vacancy etc..? Do I open a new account with my bank and keep the money there, separate from my current account?

Thanks

I'll keep that in mind, thanks guys..

Thanks everyone for sharing, much appreciated.  

Also, once the rent is paid, what do I do with the money from "variable landlord paid expenses" (from BP rental property calculator) like Cap Ex, repairs, vacancy etc..?  Do I open a new account with my bank and keep the money there, separate from my current account? 

So what's your cash flow like? And ROI ?

Ok, thank you for the input! 

Hi everyone, this may sound like a silly question but Brandon Turner has mentioned several times in his webinars on analyzing rental properties, that his goal is to at least profit $100 cash flow per unit (and 12% ROI). Doesn't $100 a month seem low? This doesn't motivate me, what am I missing here? Wouldn't it take A LOT of rental properties to have a cash flow of, lets say $5,000 a month?

Can someone please explain why $100 a month is actually pretty good?  

P.s. I do not have a rental property yet, looking to house hack a duplex soon. 

Thanks guys!!

Will do!

Thanks! I'll do that!

Hi everyone, I was wondering if someone could give me some clarity as to how I should start the processes of getting my first loan on my first home. I'm hoping to purchase me first duplex early next year (which I plan to live in and also rent) and not sure where to go to for the loan.

This is probably a silly question but, should I go to a bank? A loan officer? A broker?   I'm still saving for my down payment and not sure who the right person would be to help me figure out how  much I would qualify for?

Thanks guys!