All Forum Posts by: John Davis

Dawn,

Whats the numbers on the SFH SE Raleigh? Cap, ROI....

John

Thanks Nathan for the advice!

Hey BP Family,

Im looking for Property Management company in Kenly, Smithfield & Wilson NC Area. If anyone has any good points of contact let me know thanks!

Jd

Updated numbers for PM/CAPEXP increased...

       https://www.biggerpockets.com/calculators/shared/433413/eb592a3d-56aa-4d1b-8894-cb5c3b5dcbb9    

Yes I have downpayment all cash. The property is very good shape, Ive had an home inspector look at it already. I have 3-4months(6k) reserve to cover any additional expenses.

Im torn on the PM, the property is in an rural area, I plan on handling a lot of calls myself as well as I have a handyman in the area. I will adjust it for 15%PM an resubmit. Thanks...

Here are true numbers/asking price fro this triplex. Pls give me some feedback on what I am missing.

https://www.biggerpockets.com/calculators/shared/433413/f94c44f2-5bb7-44bf-830e-b9d3d7c28fda

 Thanks

I've added it to my schedule...hope to learn a lot as well as meet tons of new friends!!

Jd

Dave,

Thanks and I agree, I need to dig into the area support concerning PM. The area is very rural, small town a lot of locals. I've talked with he owner an he seems ready to sell so I'm going offer an much lower asking price.

Thanks.

John

@Joey Noel thanks for the website, the area is very low crime if any. Its an small town so this area would not get high rent rates but Im all ears on your advice.

@ Matt Wood thanks for your advice and my moms lives in Monroe!

@John Arendsen thanks for the vote of confidents...i shall.

@ Bryan Carlson Im all ears...

@ Dante Pirouz Thanks, I agree.

To all thank for your sound and wise input, will keep yu all up dated in the coming days weeks and months!

To all pls provide me some feedback,

I've narrowed it down to an Triplex, 130k asking price. Total monthly rents 1650.00, monthly expenses $953, monthly cashflow is 697, Im considering offering 115k and pay closing cost to create the 697 cashflow.

Problems 

- only 16months of rent rolls averaging $540 per unit over that period.

- Unit is in an rural area very small community no PM team in the area, I live hour away. The place needs some small projects nothing MAJOR.

- Feeling like Im missing something.

It looks like an good property inside and out(pending home inspection).

Jd