All Forum Posts by: George Calbert

BP Family,
I have a friend that asked me for advice on a deal. This is my first analysis on a property so I wanted my work checked to ensure I am giving good advice. I personally saw a 2.02% ($912 cash flow/$45,000 invested) return and I recommend he looks into another market with higher returns or deeper into his home turf for a better deal.
3/2 SFH, 1977, 1200sqft
Rent price $1,100

Market Value $160,000
Purchase Price $125,000
Down Payment $25,000
Closing cost $ 5,000
Rehab $15,000 (Paint interior and Exterior) (New carpeting)

Monthly Expenses
Mortgage $537 (5% over 30 YRs)
Maintenance $100
Management $110 (out of area rental)
Taxes $125 ($1600 Yr)
Insurance $52 ($625 Yr)
Vacancy $91 (1/12 of expected Rent)

My friend’s goal is $100 cash flow; I have him at $76 cash flow. I don’t think this is his deal. If he electes to do it what advice can I give him to improve cash flow.
George

mark,

Welcome aboard, I'm on the same boat. Good Luck

George

I have a life chasing failed money attempts. Looking back I was never really prepared for the journey then and I guess I am gullible, that is why I have failed so many of my early attempts. This has led to countless reminders of the bad decisions that I have made.
I heard about BP and starting listening to the podcasts. I have been listening to them for about a month now. I have broached the subject of REI to my wife and it causes an argument about my failed attempts over the last 20 years. My wife has the idea that I am salaried employee and should just save money in a bank, IRA, TSP. No risking the money. I am a dreamer; I want more out of life than a cubicle. This time I cannot afford to get it wrong. I feel I need to study about REI first and prove my dedication, and then slowly implement REI into the financial life to hopefully gain support of my spouse. If anyone has any ideas, my ears are open.
George

outstanding let's look at a day in early April maybe Yokohama train station coffee shop. Let me know 

Congrats hope it works well for you. Keep me posted, I am originally from Columbus

Just ordered, can't wait for it to get here. 

I would definitely be interested in meeting up and talking 

I am curious how many people are in the Yokosuka area and would like to meet up to discuss real estate. I am new to this and am trying to learn as much as I can. It would be great to meet like minded people in the community to learn from.

Lester,

Welcome aboard. I am originally from Columbus, Ohio but haven't lived there in a long while. Take care and welcome.

George

I didn't know where to begin, so I did what comes naturally to me. I started at podcast one. I am still researching and educating myself. I will read this link as well. I will keep everyone updated. 

Thanks Josh.