All Forum Posts by: Jason Gregory

@Jaron Walling I feel this post was an epic fail. I’m interested to see what formulas other people use, Hence the title what’s your formula???? But everyone’s only focuses on what my formulas is. I think I made a mistake posting a formula as an example. I will try and retool a new post.

Hello Jaron Walling; I just created round numbers for the example. This is not a real property. I am trying to see what other people are using to get their numbers. I did an easy 1 month for and didnt break it down for vacancy and individual cap x costs. How do you run the numbers on a property that you consider turn key?

Hello,

I am a investor that has become a Realtor. I feel like I am very conservative when I run the numbers on a property. 

Example

A=$1200.00 Properties monthly income

B=$220.00 Monthly operating costs (property management, grass, and bug services)

C=$700.00 The total cost of mortgage; monthly with insurance

A-B-C=Gross monthly profit

or $1200-$220-$700=$280 of Gross monthly profit

$280*12 months= $3360 of Gross annual profit

Gross annual profit-1 month rent for cap X (A)= Estimated net profit

$3360-$1200=$2160 Annual net profit/Annual cash flow

$2160/12 months=$180 of Net monthly profit/monthly cash flow

OK, how is this equation similar or different from what other investors are using? I am interested because I work with a lot of investors, and it seems like everyone has their own calculations that they use. I am also interested in what is considered a good investment in terms of returns for you as an investor? I wish I had the ability to create a poll on here so I could create a better understanding of what investors really want. Because everyone says, they want 10%+ return, but what are you really comfortable with? Thank you for your time, those who are still reading.

They wont let me send you his info on here, so I'll text it to you. Here is my guys information. Check out his reviews, he is legit amazing. Just let him know I sent you and he will get you squared up.

Javier Rivas (Loan Originator), Home 1st Lending

Sorry @Kelieisha Carter, here it is, https://www.thelistingrem.com/ I hope Jobe can help. He is a great guy.

I have used Jobe from the Listing for years. Here is his website. Very professional, and works great for out of town investors. I lived in Virginia when I started investing, and Jobe and his team have always taken excellent care of my best interests and my properties. 

Getting into investment is the logical next Step. I have 2 duplex's in Kissimmee and also work as a Realtor. Please add me as a friend and reach out if you have questions that you want to discuss. I would recommend  house hacking to start out if you are comfortable with it. It is a great way to begin investing and getting out on your own as well. Best of luck. 

Jason Gregory

Investment Info:

Single-family residence buy & hold investment in Ashburn.

Purchase price: $500,000
Cash invested: $40,000
Sale price: $585,000

Purchased SFH in a great neighborhood and enjoyed it for years. Completed renovations for $40,000.00 before putting home up for sale. Under contract 3 days later. Sold for full asking price.

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

Long term growth of equity, quality market that was growing.

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

My wife found this deal in the MLS while we were working with a realtor.

How did you finance this deal?

VA Loan

How did you add value to the deal?

Completed renovations for $40,000.00

What was the outcome?

Sold for full asking price. $585,000.00

Lessons learned? Challenges?

Contractors frequently under bid their prices. Get everything in detail, in writing.

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

Jay Rowzie is my Real Estate agent in VA. He is amazing.

I just read the post title for first rental, so now I feel dumb for my last post. I would start by looking at what the comps are in the area to see what you will be able to get once this property is rented. Then you need to look at that versus operating cost to run the numbers and see if they make money or not. Please feel free to reach out to me if you would like to chat further. I understand if you don't after my first reply failure. Best of luck.

Jason

Hi Julie,

I recently purchased a new build duplex in Kissimmee, so I am somewhat familiar with the area. What is your plan for this property? Is it to buy and hold, move in yourself, summer home, flip? The truth about any deal is does numbers work based on your threshold for risk. If you provide more information I can try and assist on ideas. Best of luck no matter what.

Jason