All Forum Posts by: Jason Chambers

I was a drug task force officer for 4 years and in My state any meth activity must be registered with the address through the county courts. So if that's the case there you can call the local court clerks office and ask.

This property is in very bad shape. This is what he said he would he would owner finance. I'm not to familiar with owner finance. It's an 8 plex and not up to code or in good shape.

Okay so this is what my seller said If sale price is $350,000. I will do 25% of purchase as second mortgage on 20 yr. Amort @ 7% with balloon in 3 years. If he wants me to do 20% or less, I will do that the same way but at a 6%. I I am working on getting financial docs for you

Anthony

Thank you so much for all your help

can you run the noi calculations by me one more time

Can someone please explain the cap rate and how to calculate it according to my offering of a property.  I just purchased my first investment thanks to everyone on here and it went very very well.  I think I got lucky because I have no idea about the calculations of the cap rate.  So can someone please help me out with this. Thank you so much

How easy is it to get a property moved over to a Llc. Is it complicated or not that bad?

THANK YOU ANDREW I APPRECIATE YOUR HELP

PURCHASE PRICE IS 65000

MORTGAGE 300

INSURANCE IS 75

REPAIRS 10% 65

VACANCY 10% 65

PM-10% 65

PROPERT TX 54

RENT IS 1025 FOR THE ENTIRE PROPERTY.

NOW THE PROPERTY IS A 952 SQ FT HOME BUILT IN 1948. ITS MADE OF BRINK AND HAS ALL NEW WIRING AND ROOF.  THE PLUMBING HAS BEEN REPLACED 5 YEARS AGO. IT HAS BEEN UPDATED WITH CENTRAL HEAT AND AIR.  IT HAS AN OUT BUILDING THAT CAN EASILY BE CONVERTED INTO ANOTHER SMALL ONE BEDROOM  APT.  THE OUTBUILDING ALSO HAS CENTRAL HEAT AND AIR. VERY CLEAN PROPERTY. AFTER RENTING THE HOUSE FOR 675 AND THE OUTBUILDING FOR 375 I FEEL THIS WOULD BE A GOOD DEAL. I APPLIED THE 50 RULE AND ITS CLOSELY MATCHES THE TRUE NUMBERS I HAVE CAME UP WITH.  MY GOAL IN MY PROPERTIES IS $400 CASHFLOW. BY MY CALCULATIONS I WOULD HIT IT BUT I NEED SOMEONE WITH EXPERIENCE TO LOOK AT IT AND TELL ME WHAT IM MISSING. THANKS AGAIN TO EVERYONE

all metered individually but I don't think the numbers are gonna meet with my requirements on this property. I appreciate everyone's help on this I have learn so much just off this first post.