All Forum Posts by: Jai Deva

@Account Closed , thanks John.I am planning to get insurance for sure. 

I am looking for an attorney/firm to help form a series LLC for rental investments. Have any recommendations? Thank you

Foreclosure SFH listed for 60k in B neighborhood. Rent: 900/month Upfront expenses -20% down= 12000 -repairs=25000 - closing cost=5000 - $450 tenant acquisition Total= $42450 Monthly expenses -P&I= 218 (3.6%interest) -taxes=116 -property management-115 - vacancy=90 -repairs-90 -cap ex=45 - insurance=60 -pest control=30 Cashflow:$136 I am aiming for >$100 cashflow in good areas of the town so this fits. I am not too happy about the upfront cost but unless I find a better property within a month, I might take this deal. Thanks a lot !

English village lane, SFH

4 plex in a great location. First time investor so very scared to make the plunge. Greatly appreciate all your help. 

@Christian Bors , thanks for taking the time to answer those questions. This helps me a lot. 

Hi everyone, I am close to investing in my first duplex buy and hold property and have a few questions for experienced investors: 1. the duplex is currently owned by turnkey supplier.Based on BP rental calc, the numbers seem to work out okay for my goals. Is turnkey investment a good idea for first time investor? If so, are tk providers open to negotiation of price? 2. I am planning to finance with 25% down but if need to, could come up with the money for all cash purchase. Which one would you prefer? I have a good credit score and equity on my current house so expect a better rate from lender 3. Should I form a legal entity before buying the property of go with my name for first few property and later change to llc? 4. do you guys have any systems to keep your business expenses separate from the start for better tax planning if not forming a legal entity. I am immensely thankful to BP and this community for helping me get over my lifelong fear of real estate investing.Cheers JD

Thanks for the inputs. I have decided not to invest in that property( or that area for that matter) after reading your comments. Greatly appreciated. 

Hi all, My friends and I are first-time investors looking to invest in a multifamily in Mountain Brook. It is a 400K property with 3 rental units with a collective rent of around 3200. The house needs about 15K of work and taxes are $8000. The location is pretty decent. Can someone experiences in Birmingham market guide me 

my specific questions are : if this is a good investment ? 

We are more comfortable with UAB, hoover, Mountain brook, Homewood area are so should we try to stay there or look into Section B,C areas like Roebuck, Center Point etc like it has been suggested on this forum before? 

Thank you for your valuable inputs. 

Just starting out. Glad to a find a community devoted to learning real estate investing. Started listening to the BP podcast and getting some education.