All Forum Posts by: Enver Perez

This house isn't in the best of neighborhoods (reading Pennsylvania ) but the turn around time to rent an apartment is pretty quick . The eviction process thanks to the court moves surprisingly rapidly so people pay there rent cause if they don't they know they have to pack up there stuff ... For example rent is due no later then 5th of every month by the 10th they have an eviction letter from the court giving them 2 weeks to move out

I am very new to this real estate investment and have read all the books and blogs I have been able to get my hands on but reading only gets you but so far .... I decided to go forward and invest ... I'm buying the property from a wholesaler . The property is going to cost me 25k and needs another 30k to make habitable . Making the estimated total of this house 55k .The place is a 3 dwelling unit with 4 rooming units The 3 dwelling units are all 2bdr and rent from $500-$650 and pay all they're utilities and 4 rooming pay $350-$400 with all utilities included . The place will be generating a month about $2900 . Then from that you take away the10% for property management $290 plus garbage , water and maintenance another $300 .... This house will be bought out cash ..... What do you guys think since you have a lot more experience then I have

Thank you but how do I get to those forums ?

Any help or advice ??

I'm very new to the real estate investing business ... In the middle of buying my first investment property .... I'm curious to see if all my reading and research payed off and see if I actually have a good deal I'm buying the property from a private company not the bank , for 25k. The place is going to need 25-30k of renovations to make the place livable and to past permits . It's brown stone house the outside Is in pretty good shape ... As per the zoning permit's it's 3 dwelling unit and a 4 rooming units . I'm buying the place out cash and according to local realThe rent for each of the 3 dwelling apartment is $500 they pay there own utilities and it's $350 for each rooming unit but I'll pay there utilities generating a month about $2900 before expenses ( insurance , water. , garbage maintenance ,electric for the rooming ) It's my first deal so I want to make sure it's sounds realistic and it's a good deal