All Forum Posts by: Erik Johnson

All cash for one property, less monthly expenses(ie. mortgage). Multiple properties financed, more cash flow and less of a hit to you when one property goes vacant.

Richmond, WI or Richmond, VA?

You might want to consider 10% of rent for property management (even if you don't plan on using it now, you might in the future) 10% of rent for vacancy (assuming you might have about one empty month per year) and 1-2% of the property value per month for repairs (they are going to happen and you want to make sure that you have saved up for them).

@Account Closed

@Account Closed What about repairs, vacancy, property management?

Also are you planning on living in this house or renting it out? If you plan to rent it out right away how are you planning on getting a down payment less than 20%?

Also did you include PMI in the mortgage calculation?

Good luck.

@Antonio Nguyen I don't know your area but from what you are providing it sounds like a pretty good deal. I am getting similar numbers using what you have provided.

@Antonio Nguyen What are you assuming for insurance, management, maintenance and vacancies?

These numbers could vary and cause you to get completely different numbers than the next person. If those numbers are correct I would love to get a deal like that but it seems that a new development duplex shouldn't be giving that great of numbers.

@Dennis Joule Welcome to the site.

@Derek Pigulski Welcome to the site.

Has anyone done long distance Bird Dogging?

I was thinking that I could find sellers and pass the info on to other investors in the area that have capital to buy the properties and get a bird dog fee out of it.

Does anyone have experience with this?

@Dante Ronaldo Welcome to BP.