All Forum Posts by: Jeff Tumbarello

Originally posted by "**********":

No dude! :protest:

I was reading some of your posts out in cyber land. While trying to figure out where one of our old members went after he was evicted from here, I stumbled upon a Blog.

Then like magic, presto, you showed up on Bigger Pockets. So, I recruited you by "power of suggestion" or "creation manifestation" or something??

LOL- Anyways, glad to have ya here.

BTW- I would love a PM explaining the "secret club" a bit more. The discussion on Tims Blog...

It was the secret that brought me here.
I dont remember what post on Tim's? Blog you are referring to? Or what Tim's blog is? LOL

cool

Originally posted by "**********":

[size=24]Welcome Jeff![/size]

Funny I was just scoping you out late last night at 2:00 a.m.

You have a lot of great experience ans I look forward to your getting involved here.

2:00 AM???. I hope you did not notice the Aqua Man Underoo's I was wearing. :protest:

yes, we had about 15 messages today

Mike
You going to the Meeting Tommorrow Night?

Originally posted by "rjkeefer":

This forum has changed the way I view money, not just RE. Thanks to all.

I would like to put in an offer on a brick duplex in my neighborhood. It's in great shape...I'm my own property manager and maintance guy but I've got a network of subs in case. Still trying to acquire my first property.

At my offering price, the 50% rule would be satisfied. However, when using the Property Analysis tool from BP, I get only $75 per door Here are my numbers...

70K price, $9,800 down payment at 7%/ 30 yr. mortgage

Rents at $900, $450 for each 2/1 unit

advertising $5/month
cleaning $3/ month
ins. $50/month
maint. $25/month
Landscaping $5/ month
PMI $30/ month
Taxes $91/month
Trash $10/month
utilities (propane) $75/month

Any thoughts, general or specific, would be appreciated. Thanks!

my handy dany APOD says offer 51,000 if you want a 10 percent cap
you really have to define are you buying for upside or cashflow. This on the outside looking in looks like cash flow typr deal. I do not know your area to judge
here is what I came up with
maint number is way to low
DM_APOD 2008 - Simple Format

Fill in BLUE Cells: Units, rental per period, Monthly Exp, etc. on this Page,
Purchase Price, Investor's required CAP/Interest Rate, etc. on Base Values Page

ANNUAL INCOME ANALYSIS FOR: #NAME?
Seller Test Seller Buyer Investor
Purchase Price: $70,000 Cap Rate: 6.00%
Down Pmt Avail: $9,800
MTG Bal: $60,200 Mtg Rate: 10.00%
MTG Pmt: $500

Number of Rent per Total Rent
Units Month Per Type

1 1 $450.00 $450.00
2 1 $450.00 $450.00
3 0 $0.00 $0.00
4 0 $0.00 $0.00
Total Mnthly Total Annual
Totals Rent Rent
2 $900.00 $10,800.00

Potential Gross Income (PGI) $10,800.00
Other Income Type of Inc: $0.00 $0.00
Vacancy Rate 20% of PGI ($2,160.00)
--------------------
Effective Gross Income (EGI) $8,640.00

FIXED EXPENSES:
Monthly
Insurance $50.00 $600.00
Trash pickup $0.00
Property & Other Tax $91.00 $1,092.00
Commissions/Payroll $0.00

VARIABLE EXPENSES:
Lawn $5.00 $60.00
Misc Exp $90.00 $1,080.00
Supplies/Maint $25.00 $300.00
____________
Net Operating Income Before Debt Svc (NOI) $5,508.00

Debt Service at $500 Monthly Payment $6,000.00
Cash Throwoff (CTO) ($492.00)

Int portion of Debt Svc $60,200 X 10.00% (Annual) $6,020.00
Equity part of Debt Svc (Annual) ($20.00)
_________ _________ _________ _________ ____________
Investors Value of CTO at 6.00% (CTO / Investor Rate) ($8,200.00)
Add Mortgage Balance $60,200.00
Value of Equity at 6.00% (Equity / Investor Rate) ($333.33)
Value at Desired Cap Rate 10.00% ---->> $51,666.67
Sale Price vs Analysis: $70,000 Difference: ($18,333.33)
Debt Svc Coverage Ratio (DSCR) 1.19
***** FIGURES ARE APPROXIMATE, NONE ARE GUARANTEED OR WARRANTED *****
I will share my APOD

here is a copy of the spread sheet I use
feel free to email me for it [email protected]
as with everything I use. I appreciate any and all upgrades
I do not use IRR for cash flow. I use only simple NOI. The market is almost done correcting here. I am out making offers. This is one of the first things I do. IN SWFL. I have to see what it will cost to hold.
DM_APOD 2008 - Simple Format

Fill in BLUE Cells: Units, rental per period, Monthly Exp, etc. on this Page,
Purchase Price, Investor's required CAP/Interest Rate, etc. on Base Values Page

ANNUAL INCOME ANALYSIS FOR: JT - Duplex on JT Street, USA
Seller Test Seller Buyer JT - "New-Age" Investor
Purchase Price: $170,000 Cap Rate: 6.00%
Down Pmt Avail: $17,000
MTG Bal: $153,000 Mtg Rate: 6.50%
MTG Pmt: $967

Number of Rent per Total Rent
Units Month Per Type

1 1 $2,400.00 $2,400.00
2 1 $0.00
3 0 $0.00 $0.00
4 0 $0.00 $0.00
Total Mnthly Total Annual
Totals Rent Rent
2 $2,400.00 $28,800.00

Potential Gross Income (PGI) $28,800.00
Other Income Type of Inc: $0.00 $0.00
Vacancy Rate 10% of PGI ($2,880.00)
--------------------
Effective Gross Income (EGI) $25,920.00

FIXED EXPENSES:
Monthly
Insurance $180.00 $2,160.00
Trash pickup $0.00
Property & Other Tax $400.00 $4,800.00
Commissions/Payroll $240.00 $2,880.00

VARIABLE EXPENSES:
Lawn $0.00
Misc Exp $0.00 $0.00
Supplies/Maint $120.00 $1,440.00
____________
Net Operating Income Before Debt Svc (NOI) $14,640.00

Debt Service at $967 Monthly Payment $11,604.00
Cash Throwoff (CTO) $3,036.00

Int portion of Debt Svc $153,000 X 6.50% (Annual) $9,945.00
Equity part of Debt Svc (Annual) $1,659.00
_________ _________ _________ _________ ____________
Investors Value of CTO at 6.00% (CTO / Investor Rate) $50,600.00
Add Mortgage Balance $153,000.00
Value of Equity at 6.00% (Equity / Investor Rate) $27,650.00
Value at Desired Cap Rate 6.00% ---->> $231,250.00
Sale Price vs Analysis: $170,000 Difference: $61,250.00
Debt Svc Coverage Ratio (DSCR) 1.19
***** FIGURES ARE APPROXIMATE, NONE ARE GUARANTEED OR WARRANTED *****

thanks :oops:

I did a google search of real estate investor
I have seen this site before. There are so many sites out there its hard to post on all of them . the forum here showed people having a pretty good grasp about this game we play.

I finally joined the site. We have had our Reia club on here for a while. I am impressed with the forums so far.