All Forum Posts by: Kalp Mehta

Hi BP

I'm still a newbie and want to see if my analysis is correct before I move forward so any help is greatly appreciated!

https://www.zillow.com/homedetails/13-Enfield-St-13-Hartford...

I will be using BRRRR strategy

Hi BP

I'm still a newbie and want to see if my analysis is correct before I move forward so any help is greatly appreciated!

https://www.zillow.com/homedetails/13-Enfield-St-13-Hartford...

Hi @Kevin Sobilo

Great insights! It sounds like you're really diving into the details. Considering rehab opportunities on a turnkey property might be a bit tricky, but your example with a 5+ unit apartment building makes sense. Finding ways to reduce expenses or add income sources without major renovations could work. Like, appealing the property assessment, upgrading heating systems, or creating extra income through storage units sounds smart. And it's interesting how commercial properties like these use the "income approach" for appraisal. Thanks for breaking it down—it gives me a clearer picture of how you can still add value even on properties that are already good to go!

@Jessie Dillon

Hello neighbor!

It's great to connect with someone from South Central MA! Your point about buying turnkey properties at a significant discount for BRRRR is key. How have you found the market conditions in the area for securing those favorable deals? Any specific strategies or tips you'd be willing to share with a fellow local investor?

Hi @Wade Wisner,

Thanks for your input. I'm aiming for a solid return on cash, and I agree with your emphasis on positive cash flow. I'll keep your recommendation of at least 8% in mind as I assess the property. If you have any more tips, feel free to share!

Hi @Joseph Bui,

I'm planning a 20% down payment on the property. I don't have a high level of confidence that the area will appreciate more than the rest of the US. My investment strategy leans more towards immediate positive cash flow.

Hello BP

Should I buy a property that generates negative monthly cashflow including vacancy reserves, management reserves, CapEx, and property management fee? When I remove vacancy reserves, management reserves, CapEx, and property management fee from the calculation the property is generating $200 positive monthly cashflow.

Hello BP

Can you use BRRRR Strategy on Turnkey Properties (Condo, Townhouse, and Apartment)?

Hello BP

If I extend the lease and increase the rent, should I adjust the last month's rent to the new rate?