All Forum Posts by: Kevin Whisler

What C+ areas would you recommend for DFW? Also, drop any recommendations for RE Agents, Property Management, and contractors below or in my inbox if you feel more comfortable! Thanks!

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@Andrea Cocolin

Not sure about Wilmington but Philly property taxes are pretty reasonable anywhere that you’d be buying investment properties. Pretty much as long as you’re avoiding jersey property taxes you’ll be golden

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@Frank Patalano

Right now it’s just getting funding together and finding someone to partner with for equity. After that’s sorted in the next few weeks, it’s go time!

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Originally posted by @Greg Bishop:

@Kevin Whisler

Just go for bro!

$1000/mo is a lot of wiggle room to cover up any mistakes you make.

Just make sure you have enough capital (cash or credit) or know how to fix any potential issues for mechanicals, roofs, after inspections.

We just finished stabilizing a triplex property in Manayunk (a high B class neighborhood) that cash flows over $1k/mo, so it’s definitely possible the numbers work.

Trust your intuition. It looks like you ran the numbers correctly. Though the taxes seem a little low for your after purchase price. They generally change to 1.3% of the purchase price.

Hope that helps

-Bishop

Thank you Bishop! Lets connect, maybe we can get together on some deals in the future!

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Originally posted by @Cody L.:

Originally posted by @Michael P.:

You’re seriously willing to live in a C class area in Philly?

Is he buying this property to live in? I wouldn’t live in 90% of the areas my properties are in.

i think he may have been trolling. Simply because he added no value to the thread and just left a prick of a comment.

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@Max Pallatt

After reevaluating, the deferred maintenance is too high risk for me. Going to look into something turn key, or something that I renovate myself as a first property. This one was just too risky!

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How do you know if an agent is investor friendly? Are there certain questions that you ask to qualify them?

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not a section 8!

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Nashville Suburbs Duplex:

Two 4 Bedroom units that have brand new renovations, HVAC, appliances, etc.

Tenant will pay all utilities.

Principle, Interest, Property Taxes and Home Insurance: $1700

I would be leaving $68,000 in the deal.

Projected rent values are $3900

$100 A month for trash? not sure about that.

Cap Ex 7.5%: $290

Repairs 5%: $195

Vacancy 10%: $390

Property Management 9%: $351

Expenses (Total)- $3026

Monthly cash flow: $874.

Nashville Investors, what am I missing? I know im leaving alot of money in the deal but my cash on cash return is still: $874 x 12 = 10,488/68,000= 15% annual return not including equity.

My cash on cash plus equity is 41.8%

($18,000 of equity built annually + 10,488 in rental income= 28,488/68,000= 41.8%)

*I know the capEx and repairs are low but its BRAND NEW*

This is all not including potential appreciation of the Nashville Market.

What am I missing? Someone play devils advocate with me.

*side note: Anyone looking to partner for equity in Nashville market, let me know. Couple of spots left.*

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Originally posted by @Nathan Hall:

@Kevin Whisler from what you described, this sounds like a great first deal to cut your teeth on. You seem to be using the right numbers. Keep the expenses like capex and maintenance in the right accounts, don't touch them, let them build up, and at a certain point you should have either enough saved to help you with your next acquisition, or enough to fund repairs. Preferably both after enough time has gone by. We don't have enough information with what you provided about your income and whatnot to assess much more (keeping things afloat if tenants leave, something breaks, etc.).

Don't be afraid to tell tenants (both verbally and via your lease agreement) that they are responsible for mowing grass and snow removal. It's their home, they're grownups, and you have better things to do.

Great point Nathan. So I would be able to have them cover grass and snow removal on a quadplex and do it themselves? How would that be divided on a quadplex? Bottom floor is responsible? Something along those lines?

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All Forum Posts by: Kevin Whisler

Kevin Whisler has started 8 posts and replied 87 times.

Post: Best areas in Dallas Fort Worth

Post: Property Tax Question for Investors in PA/DE

Post: So what's holding you back?

Post: Quadplex seems to be cashflowing 1k a month. What am i missing???

Post: Quadplex seems to be cashflowing 1k a month. What am i missing???

Post: Quadplex seems to be cashflowing 1k a month. What am i missing???

Post: Investor Friendly Agents, how do you qualify them?

Post: Quadplex seems to be cashflowing 1k a month. What am i missing???

Post: Analyzing a Nashville Duplex (help a brother out, *again)

Post: Quadplex seems to be cashflowing 1k a month. What am i missing???