All Forum Posts by: Joseph Pichardo

Good day all. My partner and I came across a possible Multi Fam in Endicott, NY. After factoring the deal with owner financing, we estimated a 22.3% cash on cash ROI. That's factoring 23% for vacancy rate.

My question to those familiar with that area, how rough is the rental market. Is 23% really the vacancy rate?

Lastly, if I decide to to go through with this I would need an Agent for tenants and deal finding, A GC, a PM and a Lender willing to refinance an LLC after a or so.

Thanks in advance I really appreciate any perspective.

@George W. Thank you. I definitely see the value on that. I wouldn’t be able to manage a project that big on my own

So I received a quote on a property that I was considering purchasing. (I’m no longer interested in it since the numbers don’t add up). I had the GC look at it and said it was a project that can cost me around 150k. I was just wondering how much of that is the GC’s take. Meaning, how much would I save if I subcontract everyone myself.

@Ashish Acharya thank you so much!!!

Good afternoon all-

My question is the following. If our 5 member LLC purchase a property and follow the BRRR strategy. However instead of "Repeat" we decide that we are only going to hold one unit and keep the cash. Would that be consider income that's taxable? Thanks in advance

And the vacancy rate is 4.4% from 2013-2017

4% is my down payment.

I figured aprox 4% will also be my closing cost. 

No im not.

 It would be a 3% conventional. I calculated title insurance and everything in the closing cost which usually is about 4% the selling proce

Thanks for the info. How do I look up the vacancy rates? Just to confirm, you would allocate some of the rental income to protect you against somebody vacating the apartment (s, correct? Property taxes are included.