All Forum Posts by: Jeremy Stroud

No sweat Stephen, even after adding that in, assuming this isn't in a war zone, then it should still come out pretty dang good. 

Stephen

Thats some pretty serious COC return! MAke sure you calculate in closing costs, check on any HOA fees whih are on duplexes many times, most people calculate an estmated monthly repair expense as a percentage of rent. Usually 5 - 15%. This is seperate from CApex. I just didn't see that in your caclculation.

Good luck and congrats

no HOA's and units are individually metered so tenants pay thier own utilities

I actually reduced the ret from $1000 to $925 each just to be on the safe side. 

Duplex in Central, la for $142000

3bed/2 bath  - 1200 sq ft each

Recently renovated. New floors, new roof, new paint, etc. 

Was renting for $850 per unit previous to renovation. Seller says other simliarlyupdated unttis are renting for $1000 a unit. I confirmed this via a serch on craigslist as well as with a property manager that has other units in the area. They are renting for $1000 each

Verified property taxes with seller

insurance is an estimate

rates are locked in with a commercail loan - don't qualify for FHA

maintenance is at 10% of rent

Missing anything here?

sorry guys - i accidentally hit copy and paste there:)  that's not at all what I meant to post. 

I am certainly open to partnering with someone but it would have to be someone local

What I meant to ask was.....What are the pros and conce to financing from the get go versus paying cash then immediately doing a refi to pull the cash back out

Im a new member in the bigger pockets forum. Outside of some mobile home units that I sold 10 years ago, I do not have much actual experience in real estate investing. I've been researching here, and other places, listening to podcasts, reading, and doing mock financial analyses. I feel pretty prepared to start making some purchases, but would prefer to partner with someone for the first few transactions to get my feet wet. I'm primarily interested in Multi family rentals and I DO have the cash ready to go. If you, or someone you know, has some experience in MFR but maybe not enough cash to do thier next deal then I may be intersted in partnering with them.

Rudy, 

Has this sold yet, or is that what you are hoping to get?