All Forum Posts by: Kyle Shankin

Hi there @Dorian Phillips. It depends on your target market. I leave 8% for vacancy, 4% for repairs and 8% for capEx. Property management I also have at 10%

Hi @Peter Aziz, I think that your numbers look very good in general. I have a rental in a B+ neighboorhood in Oakland County, Michigan.  For snow removal, if you're doing single family, you can have the tenants take care of that. If you have a small multifamily with a single driveway, then I would budget $225 for a season. 

I think your Kitchen appliances are budgeted a little low. I just rehabbed a house and spent about $1,300 for a whole set: fridge, gas stove/range, dishwasher and garbage disposal. They were bundled as part of a holiday sale.

I budget a little less for a roof ($5/sqft), but have not actually replaced one yet.

I think this is a great question @Nicholas Osweiler. One thing that I can chime in on is trying to evaluate MLS leads. After enough time is spent on the MLS, or even a site like Zillow, I think that you develop an idea of the base cost of a house that you're looking for, and after enough evaluations, you'll start to notice patterns in the numbers (of the listing, not the analysis) where you could then decide to run a more in-depth analysis. I agree with you that everyone on the MLS is looking to sell retail, but that doesn't always work out for them. If a house sits on the MLS for a long time, the seller might become motivated.

You could always do your analysis to find out what the offer price is that would make the deal work for you, and then offer that to the seller. Worst case scenario is that they'll say no. 

If you're looking to not run analysis on all of the houses that come across your monitor, and assuming you want a rental, you could start by using the 1% rule to determine if a house's one-sheet is even worth glancing at. 

 That's funny that you bring that up, scale-ability was the thing that kept me from going to LeadPropellor! It gets super pricey if you want multiple sites. I also like their idea of the content packs, but if EVERYONE is buying the same content, then no one has the advantage of placing for a top spot on Google.

@Matt Fisher the website looks nice! I tried to visit the other day and saw that your SSL certificate has expired, it looks like you've removed it now. How was your LeadPropeller experience? I was SUPER close to trying it out, but decided that I want more control over the sites that I'll ultimately use for lead capturing. I think that the idea is brilliant though, and am ripping off the model to use on my own stuff.  I'm glad to hear that your site has given you some good leads too, is that through the PPC marketing (and even after migrating from a LeadPropeller site)?

Wordpress has a slight learning curve, but is definitely super powerful and has a HUGE community behind it, so there are plugins for just about anything. Here's my site that I'm building for lead capture. The page copy, navigation and business info aren't in place yet. But the multi-step contact form is just about done and I have a blog started where I've got a couple of writers writing SEO-friendly posts for me on a weekly basis. 

PPC and online marketing have been a topic that I've done some research on the past few years through various failed projects. However, it's not a strength of mine, so I'm going to be hiring someone to setup my campaigns for me. If you feel it's daunting, maybe you should try reaching out to a freelance online marketer(?).

If you have any questions about wordpress or web hosting feel free to reach out. I'm not full time real estate investing yet and my day job is as a Web and Mobile apps developer. I've got a good amount of Wordpress experience.

I'm skeptical of this post..

Actually, I just replied because I wanted to be the first to comment on a post that's over a decade old :)

Hi @William Robinson. That deal sounds pretty great if all of the numbers are legit. Since it's your first time, I'm curious about (and am going to scrutinize) a few things:

• 0 down payment, how are you accomplishing this? And what vehicle are you using to buy the property?
• Who gave the appraisal price? You're certain of that value? If so, why is the purchase price so low? 
• Are any repairs to the property needed? 
• Expense-wise: It'll depend on your market, but I set aside 7-8% for vacancy, 4% for repairs, and another 7% or so for capital expenditures (big expenses like roof and furnace). You didn't include capital expenditure in your post, does your analysis take that into account?

Hi @Brendon Dyer, I personally think those numbers look pretty good. But you did mention wanting to be able to pull money out and it looks like you're leaving $11k in the investment. Could you expand on that?

Are you going to house-hack this?

Congrats John, that sounds like a clean-cut, no bs deal. 

Wow kudos Hayden! Way to maximize the return!