All Forum Posts by: Kelly Choate

It does achieve the 2 % rule yes...thanks for your input. First potential deal and nervous is all...lol.

Hi everyone! Ok, we are newbies to investing and want to run this by you more experienced folk. House is a multi-family, two bedroom on main floor, studio up top, 1200 square feet total - previously rented for $700 main, $350 for studio. Asking price is $51,900. It's located in a small city that has had its struggles, but the property is located between a college and a hospital, both of which are expanding and growing. Based on a purchase price of $46,000, assuming 100 per cent tenancy, the rental income is $12,600 annually. The approximate operating expenses are $3800 per year leaving a net operating income of just over $8000 a year.  We don't know whether to just pay cash or mortgage it. If we mortgage it, after payments and depreciation estimates, it leaves a cash flow of $4000. Is this something you would bother with? Any advice is greatly appreciated and I hope I didn't leave out any relevant information.

I have to tell you, @Jake Thomas, you are an inspiration!

And wow, @Jake Thomas, a $0 marketing budget....can you expand upon that at all? Did you do anything, like Facebook ads, or mailing, etc. Does that have to do with Grand Rapids being a pretty great market?

My gut was telling me basically what you all said. Thank you!

Just stumbled across this and I am interested.

So! I am up and running...achieved my license and now in my broker training phase.  And I am doing my marketing and getting my name out there.

What are your opinions on Zillow? Is it worth paying to be a "premier agent?" Have you had success going this route, or have you found it to be a waste of funds? Any thoughts and advice, as always, is much appreciated.

Haha @David Hunter, that is exactly what I thought.

Russell Brazil I have to admit, there are things I have studied and thought, "How applicable is this to the real world?"

Most jobs are quite different in reality from what you thought they would be, or from what you learned during your schooling. What are some of the biggest differences between pre-license learning and what you actually learn on the job? It seems that RE classes don't teach you a lot about actually working as an agent.