All Forum Posts by: Jeff Moore

I am considering also. Following

16 paying. Will be cash flow after all expenses and cap ex, maintance etc and I have cash  to cover for a while just in case.
Just looking for an idea of cap rate to plug in

Any ideas on cap rate for above??

@Eli Konig

Burlington county

Good condition

Rents are fairly maxed out but they have 3 tenants that haven’t paid in a year so being sold on those numbers not potential

Not section 8

Some cash some direct deposit for the time

Hi Everyone

I am looking at a medium sized multi family all

1 BR 1 Bath studios in c class area all under 1 roof. What is cap rate for this type of property. Condition is fair

Hello Bigger Pockets Family,

I am an experienced complete gut fix and flip investor (20+) in last 3 years.  This deal is different... It is basically paint, carpet, paint kitchen cabinets, new counter, flooring, and minimal bathroom repairs.  

PP                                  $171,000

Repairs                           $30,000

Closing and carry costs    $22,000

Total                               $223,000

Now this is way more than I am used to paying bc house is in such good shape compared to what I normally buy.  

My Issue:  I am worried about what the market may do in next few weeks/month.  This is a lot of money for me to purchase and rehab property and am worried market may crash and leave me with a big house and losing money to sell.  If market stays same should sell for $260,000 easily.  Cant close for 3 weeks and Should only take 3 weeks to fix and get on market

Does this sound worth the risk?  Is everyone still buying and figuring market will at least stay flat?? Renting will not be good secondary option for me

Sounds like a great value add deal.  Congratulations

I agree with Clinton. As soon as they followed up with realtor we disclosed and unfortunately many prospective buyers declined to pursue any further

I can only speak for NJ.  I did one flip in flood zone and many people reached out to my realtor asking if in flood zone and when he said yes a lot of people just walked away

How many bed/bath?  What is the ft2?  septic and well or both city?  Add up all you holding costs for at least 6 months.  Interest, taxes, 4% cost to sell the house (instead of 7% bc you will list), insurance, gas, electric, plus at least a 10K oops on rehab estimate