All Forum Posts by: Jon Sutton

I did the same thing - let’s discuss over PM 

There are tons of message board softwares out there that can do a great job. I use several of them for forums I run for other passion interests, some approaching the size of BP.

Running this site is probably hard, and my deep appreciation to those who do it, but this forum software is atrocious. Professional companies have enterprise solutions that can probably save you oodles of money and provide a better product.

Thanks for the feedback, folks!

I got taxes from the listings on MLS, so those should be correct. I'm making informed guesses on insurance based on my own primary residence insurance rates plus some "non-primary residence cost inflation."

Phoenix is definitely a bit of an appreciation play so cashflowing at 8% is good enough to let me ride that wave. Appreciate the feedback!

Link didn't seem to work, try this instead:

https://www.biggerpockets.com/...

It seems foreign that you're supposed to be able to find deals on MLS, which makes me think I'm missing something here: https://www.biggerpockets.com/analysis/rentals/d8b0ee91-b375-497c-89ed-63e39e429dcd. 

I'm able to find 1-2 deals a day similar to this.  

I budgeted 10% each for maintenance, vacancy, and capex - which seems like it might even be a little conservative.  I plan to self manage and have tenants pay all utilities.

$347/mo in cashflow, 8.5% COC isn't incredible, but it's a fine base hit - right?

I bought a home in 2020 in a popular market. As a result of appreciation (both natural and forced), I will be able to pull out 30-50k when I refinance.

I’m a consultant. My prior contract work had me embedded as a w2 employee with particular companies. In 2020, I started to do my consult in my own, which earned me ~20k in addition to my w2 income. I’m now shifting entirely into working for myself, so all my income going forward is 1099.

From my understanding this new 1099 income doesn’t mean squat for 2 years of documented history to underwriters. I’m stuck for refinancing but also potentially for a mortgage on an investment property with my equity from my residence as a healthy down payment. Are there types of loans or magic words I can tell some credit unions to qualify me? I don’t think I’m a terribly uncredible customer, but maybe the actuarial gods say I am.

Hi all:

Obviously Phoenix is a hot market. When you’re running numbers on a property using the BP calculators (or any others) what do you estimate for annual property value increase? BP’s default is 2% I believe. 

Does anyone know of a publicly available list of cost per sq foot of home sales by zip code?  Zillow has some helpful data but not quite this.  I'm looking to create some data visualization to help understand my market.