All Forum Posts by: Heather Ippolito

Thanks @Tom Mole! I'm still learning! I think that for this ROI I may be just as profitable as letting my investments sit in mutual funds right now which gets me about 5,6% returns. I think I got excited and didn't think enough into it yet. I do have more learning to do!

Thanks @Derek B. Your input is always helpful and gives me more to think about. I'm wondering whether I should make one more lower off (125k cash) and then, if rejected,  walk away and consider another property I was interested in.

@Kyle Penland I agree. We offered 120k  ash and they countered at 134k. I thought they were more motivated to sell than they apparently are. I'm now thinking of offering 125k cash and if they reject it, just move on to the other property I thought was a good deal  as well.

Thanks @Brian Fouts. The BP calculator doesnt seem to be working right now. I'll try again soon.

Thanks.

I was given an estimate on the insurance by a mortgage lender. I'll look into it more.

I was also just giving a large guess  on the prop management. I haven't looked deeply into it yet. 

OK its a SFH in a nice neighborhood in NC with mostly military families renting. House built in 1992.

Asking price $139k

Hopefully paying 127K in cash

Rental income $1300

Taxes $1100/yr

Prop management 10% of rent

Insurance $80/month

House is in good shape. May need roof replaced in the next 5- 10 years.

Any feedback on this? 

Thank you!

Thank you @Michael Gansberg! I should have added that the 2nd house would rent to a military family most likely but even if one spouse is military, it's true that a family is likely to stay longer as long as they are stationed at this base. Good point and yes it makes me lean towards #2.

This is my first potential investment and I'm trying to figure out which house to make an offer on. Perhaps someone here has some feedback for me or questions to consider.

1st house

asking $129k. Hoping I could get it for $115-$120 cash

rental income $1200

taxes $1100/yr

likely renters would be single military guys

3 bdrm house. It's a great neighborhood but the block is not as nice as others around it.

2nd house

asking $139k. Hoping I could get it for $125-130k cash

rental income $1300

taxes $1200/year

It's a nice looking but small  3bdrm house in a great neighborhood on a quiet street.

Renters would likely be a family with kids

I'm not sure which one to focus on. Both houses are in good shape. What other angles should I be looking at? 

Thanks!

Thanks @Stuart Birdsong. I'm hoping a cash offer will get the price down on #1 and #2 so it's a better deal.

@Stuart Birdsong they seem pretty fair market value. I'm definitely going to ask if cash can help us get a better deal.