All Forum Posts by: Account Closed

Thanks a lot for the replies Chris and Kathy. Chris, your podcast was inspiring, Care for a chat sometime?

Hi, I am an oos investor looking at some sfh in Beloit area, zips 53511. I have general questions on the neighborhood. Is crime a concern? The numbers seem interesting, it seems its possible to achieved 1.5% rule. How is the local economic trends? I have been reading good things about the economic revival in Beloit-Janesville area. Typical eviction and vacancy rates would be good to know also. Overall just looking to see what someone who is investing there things about the potential of that area for cash flow. Thanks!

I am an investor interesting in securing funding on two cash flowing properties both out of state to me. The total amount is around 900k and I want to secure 700k or so. Freddie may not touch it as its too small. And community banks may not touch it as I am out of state. Any pointers?

Thanks everyone for chiming in. Yes, @Peter MacKercher knows his stuff pretty well and I have confidence in him!

One other detail question. Is it good practice to use time value of money while accumulating reserves, for instance $100 a month for 30 years accumulates to $36k whereas if I assume a monthly appreciation rate of say 0.66% ( backing off long term SPY rate at 8%) I get a figure of $150k which is heck of a lot different. Curious what people feel?

This is my first deal and I am looking to make sure that I do it right.

I am looking at a St Louis really old 4 plex which was recently updated in a C area. (New roof, tuck point and plumbing stacks). The heaters and furnace are old. I am yet to get it inspected so this assumes that inspection will go through.

I put it an offer for $120k ( with closing and some rehab another 14k would be needed). At 25% I will be all in at $44k. 

Here are my expense numbers (all monthly) Rentees pay utilities.

1) PITI - 483

2) Insurance - 120

3) Water and Sewer - 220

4) Repairs - 220

5) Mowing - 25

6) Vacancy and Capex - 220 (110 each)

7) Garbage - 56

8) Management - 220

9) Taxes - 81

The rent is expected to be 550 per door or 2200 all in. The CF comes to about 554. 

My main concern is CapEX. I feel that 5% or 110 is on the low side. How to in general estimate it? Have I missed any other cost item?

Also would love to hear thoughts from experienced folks here esp from St Louis, are these decent numbers?. I want to make sure I do it right. 

Thanks gents, looking forward to it!

Thanks a lot Ryan, I will be there. If its postponed, does someone post here?

Hi, I am an investor from the DSM area. I am wondering if meet ups are happening right now. Would love to meet some fellow investors.