All Forum Posts by: Kenneth Kussman

@Jaysen Medhurst

Your financial assumptions are not even close to correct.

@Jaysen Medhurst

I rent rooms so I only have to deal with fractional vacancies. The house is never empty.

Mortgage is $1350.00 (includes property taxes & insurance)

My rents total $2600.00

I pay utilities & maintenance which actually comes to about $500.00

I have enough reserves to carry me for 6 months if need be.

Cash flow is fine on this house the way it sits now. I have credit & employment income.

I think I’ll leave it alone and find an investor to partner with.

@Jaysen Medhurst

FMV - was appraised at $340,000.but I would put it at $300,000.00

LTV is approximately 60%

Current cash flow is $600.00 monthly

Currently employed as well

I’m looking for something 150,000.00 or under that needs work, but non structural I can flip. Rent if necessary

@Curtis Robbins

3.25

I have a single-family home rented out that has good cash flow. I recently refinanced it to a lower interest rate and added a little more cash flow as well. 

I am employed so I use the cash flow from my current rental for maintenance, improvements, and reserves for the property. I have about $125,000.00 in equity at this point.

I would really like to invest in my second rental property. I am trying to decide if I should use a HELOC to purchase a second rental property or just keep saving towards a down payment for a second investment property.

My current rental property is doing so well, I plan on holding it,  so I am hesitant on pulling equity out.

The property I would invest in would preferably be a buy and rent-out property.

Any opinions or experiences ? 

@Arsen Atanasovski

Hi,

If you don’t mind sharing some location info

Please pm me.

@JR C.

My tenants in Texas work for companies that do background checks, drug testing for me.

This helps

They work from home so I’ve bumped up the internet speed.

So far all is good.

@Kinjal A.

I owned a house in Los Angeles that had been built in 1928.

It was a fixer, but it was built well. I had to update the electrical, install HVAC, and roof. Everything else was cosmetic.

I think it just depends.

Some old houses have major defects that you need to watch for.

Old fixers can be profitable if you by buy right

@Mindy Jensen

Financing a purchase

What Are the signs that a neighborhood is going up in demand or down in demand

@Nathan G.

I thought you said you were starting the eviction process now?