All Forum Posts by: Jared Bartman

I'm interested in your meetup, still a monthly thing?

@Matt Dingus

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Three house deal

Two houses are rented and occupied by decent tenants, the third house needs about $10k in repairs and the tenants removed.

file:///C:/Users/jared/Downloads/5unitBVA20yr.pdf

Here's an update on the calcutlations for the property, I have updated it with all the best quotes for insurace, utilities, mortgage, etc.  There is a trash dumpster located on the property and I am able to just switch that contract directly over with the purchase of the building.

I had a loan secured for what I thought was 18 years and 5.05% interest but through miscommunication it was actually only a 15 year term, which affected my cash flow by $150 or so.  I'd rather have the higher interest rate and more cash in my pocket at this point being that it is my first purchase since I've gotten back into investing.

I will be taking care of the lawn care and snow removal as I am trying to mitigate costs for the first year until I am able to raise rent.  Even with a small rent increase in each unit, say $25/unit makes a nice addition in the cash flow category.

The previous owner has been meticulous in caring for the property and really there is nothing that needs to be addressed immediately.  I'm aware that things will come up and I have reserves for that until the building builds up its own reserves for that reason.

Thanks for everyones input and sorry it took so long to reply, I was vacationing in an area where service was hard to come by.

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*This link comes directly from our calculators, based on information input by the member who posted.