All Forum Posts by: Dave Hurt

It looks like you're just subtracting your mortgage payment on your primary from the projected gross rent to come up with "cash flow" and not factoring in taxes, insurance, maintenance, management, etc. unless I missed something?

Hi All, 

I am currently looking for REI meetups in the Charlotte, NC area. I've found Charlotte REIA and Metrolina REIA - are there any other recommendations out there? Any BP-specific meetups?

Thank you!

Welcome from a fellow North Carolinian! Best of luck and thank you for your service!

Welcome to the community! You will find TONS of useful information here. I spent two years in the bay area for grad school and have wanted to go back ever since!

Welcome! Glad to hear you've decided to jump in! Looks like we have quite a few Charlotte members. Would love to be involved in the next meet up as well.

Congrats! That is a heck of a deal for 2 duplexes! Was this in Statesville? I may need to explore that market...and I thought Charlotte was good!

Dusty - Good question! Basically it is through family, and very generous.

Thanks, Andrew!

Sorry, I can't seem to figure out how to mention users through my laptop - it automatically did it with the @ symbol through the mobile app...

...I should also add that to calculate a cash flow figure, we would definitely use the conservative 50% rule estimate - which would bring it to 170.83/mo, after 50% of gross rental income and the financing payment is taken out.

Thank you again, and any other input is definitely appreciated!

Thank you for the input! Sorry I should have been more clear.

In the 'real numbers' section, I didn't mean to imply that we would pull that figure out as income. For this property, that entire sum will stay in our LLC account to cover any expenses moving forward (vacancy, repairs, etc.) on the property. While we are in the initial stages of building our portfolio, my partner and I both have agreed that we won't be pulling any money out for income. I suppose I shouldn't have used the term ROI technically, then :).

Basically, to get the second unit to rent for 500/mo we will need to freshen it up to be as nice as the currently occupied unit. The owner sweetened the deal by telling us they would locate a tenant if we did so (they are well-connected in the area's rental market).

Hope that helps! ...and sorry if I was a little too vague!