All Forum Posts by: Hilario Ruiz

@Benigno Cunanan I meant 215 CF after all the vacancy, PM fees and repairs would be my actual CF.

@Benigno Cunanan still in renovation in 1 wk should be done. I bought in 38128 area. Should be placing tenant in 2 wks with at least two years lease.

Projected numbers:

Rent 815

Piti 600

20% down payment @5.2

Cash Flow 215/month

@Nathan Hillier glad to hear you first property is doing great!

As far as choosing Memphis I did my research and it’s a great market for rentals. Steady and it keeps growing plus it’s one of the best cash flow markets in the country. I’m a little nervous and excited at the same time since it’s my first investment property. I hope everything goes great with it and I get to hold on to it forever.

Keep me informed of how your rehab goes.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $78,000
Cash invested: $18,000

First investment property. My goal is to start with one and eventually build my portafolio to more properties. I want to buy and hold for as long as I live.

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

I wanted to get my feet wet with this first property and to make sure real estate is for me.

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

Started researching rental markets. Since it does not make sense investing in rentals in the state that i live due to being overprice. I looked up google and the best cash flow markets.

How did you finance this deal?

Conventional loan

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Im still working with Memphis investment properties. So far everything is going smooth.