All Forum Posts by: Eric Carter

Need help analyzing this deal as it would be my first rental property.

Have a few investor buddies in ca one has a fourplex in let’s call it the “middle class hood” here in ca.

Here are the details:

Conventional loan (because there’s no rush)

Purchase price: $450,000

Down payment: $90,000

Interest rate: 4.5%

Principal : $1824.00

Utilities: $390.00 month

Insurance: $60.00 month

Property taxes:$422.00 month

Total: $2695.00

Gross monthly rents :$3425

(There’s a little room overtime to increase rents)

Cash flow $730.00

Vacancy factor not figured here probably somewhere around $300.00

I’m wrestling with the expense of 90k down . The market is insane right now trying to nab my first rental but i could always try and find an off market deal but that’s just as tough. There’s no competition with this deal.

I appreciate the feedback I will look into these videos thank you !

Hi Guys

I am a new investor of just around 2-3 months. In those 2-3 months I have acquired a flip property. My main goal in my journey is to acquire long term rental property investments. I realize I need to go speak to an attorney to to still get these questions 100% answered but Im looking for more of current experience. 

What do you do for asset protection? 

Are your assets in an LLC?

I am currently looking to assets in a trust. Once I acquire property should I have started an LLC and from the LLC put them in a trust.

Looking for some education on these ideas for personal protection. 

Thanks guys 

@Marlen Weber thank you 😊!

@Marlen Weber

Marlen sorry I’m still getting going on this app I didn’t realize I actually posted this as a discussion!

So currently we are in a 14 day escrow with about 10 days left. I realize we are not very far along but still very exciting!

@Chris Risi

Sorry still getting used to this app I didn’t notice these replies!

Currently we are in a 14 day escrow with about 10 days left! Super exciting I realize we are not very far along but still super exciting!

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $150,000

1836 sq ft 3/2 home on 2 acres with a barn

What made you interested in investing in this type of deal?

The deal came up and it was my first investment and I jumped on it.

How did you find this deal and how did you negotiate it?

I found this deal by calling a local agent that had sold my moms house about 2 years ago and told her I was a cash buyer and looking for an investment property. I called her at 12 pm and the same day she called back at 4 with this deal and I jumped at it. It was priced at 140k and I was the very first offer by 7 pm that night and the next day at 9 am the realtor called and told me she would stop showing the property if i went to 150k and i said lets do it.

How did you finance this deal?

I am currently partnered with a real estate investor buddy who brokers hard money loans and he has a hard money lender that we used.