All Forum Posts by: Jeff Saul

Colin- great idea. I’m definitely interested

Hey guys - glad to hear the event went well. Unfortunately I missed it and I'm wondering if there are any more on the schedule soon in the NYC area? Thanks

I am a real estate investor looking at a triplex in Hartford Area (Plainville, CT) and need a buyer's agent to handle transaction. Please send a me a message if you are an agent in the area. Thanks.

Thanks for the thoughts Anthony. I tend to agree with you. Better tenant demographic, less wear and tear, etc. I love having roof and HVAC recently replaced so I don't have to worry about looming threat of that down the road. 

Hey guys - so I just put an offer in on a property and wanted to get people's advice. 

The house is a brick 1,100 sf 3/1 built in 1997 that has gotten full replacement of roof, HVAC and major mechanicals, flooring, etc. all in the last 5 years. House is in a neighborhood zoned for "good" township schools in a major midwest market (Indianapolis). Should rent for $900-$1,000 and I offered $70k. List was $80k and seller came back at $76.5k. Just responded with $72k and willing to pay up to $74-$75k if pushed. 

I'm modeling a rent of $925. As far as expenses, taxes are $1,700 per annum, I'm figuring $600 for annual insurance and I will be hiring a property manager and likely paying 10% annually. Assuming another $150 per annum for R&M + cap ex (I think this is likely conservative given all the recent capital invested), monthly unlevered cash flow should be ~$490. With an 80% mortgage at 4.25% and 30 year am, levered net cash flow should be $200 per month. Cap rate is ~8% and levered cash on cash return is ~16%. Not assuming any appreciation or rent growth. 

While I can earn higher returns in worse neighborhoods, I like the solid 8% cap rate investment here given good neighborhood, good schools, house less than 20 years old and most big ticket items already taken care of. I have looked at a wide range of deals in various places on risk/return spectrum and I think this deal is considerably less risky than most I have seen and still a good cash on cash yield plus good experience for a new investor. 

I have looked in a number of markets and my experience has generally been that to get a 9-10% cap rate type of property, you need to venture into worse areas with worse schools or buy $40k homes that will have constant repairs, etc. I think this deal strikes a nice balance and I will likely be more risk averse just for my first few. 

Anyway, I'm interested to hear what you all think and if you know of a market where deals like this are plentiful or that better deals for similar risk profiles exist, please PM me and perhaps we can work together!

Thanks

Hi all, 

I am an investor looking to invest in the Cincy market and searching for an agent with whom to get started. Please respond or PM me if you are interested in working together. 

Thanks

Hi, 

I am looking at investment opportunities in Cedar Rapids, Iowa and looking for an agent to work with. Preferably someone with significant experience working with investors. 

If you fit this description, please let me know! Would love to find a way to work together. 

Thanks

Thanks Josh - sending you a PM

Hi Tristam - thanks for the response. I will PM you to discuss further.

Hey guys - just wanted to bump this up and see if there were any recommendations in KC area. 

Thanks!