All Forum Posts by: Lakila Richardson

So there's have a 3br/2br house in Atlanta that was purchased in 2006 and financed with an 10 yr Interest Only which flips to a 20 year conventional in 2016. The house has been rented on and off with varying degrees of success and is now vacant and on the market for slightly more than the remaining mortgage amount. It's in tip top shape and newly renovated but it's been a tough sell. It's currently under contract but the buyer keeps pushing the closing and the deal will likely fall apart all together. 

If this contract falls through, the owner wants to take it off the market and re-group. It can be rented for a profit of approximately $200/mth but only until the mortgage flips in mid-2016, at which point it will lose approximately $200/mth if not more.

Has anyone successfully navigated out of a situation like this before? Any suggestions for mitigating loses? 

Thanks @Anish Dave ...I'm looking forward to attending my next meeting. Unfortuantely, I'm traveling this Wednesday. Looking forward to connecting again soon!

BPers, I had the pleasure today of attending a BREIA meeting. I wasn't sure what to expect upon arrival but one of my key objectives is learning more about the South Florida market and networking. I'm happy to say, I walked away with both objectives met and am looking forward to continued engagement with this group.

For anyone else on the forum who has a BREIA membership, I'd love to hear your feedback and insights on how participation has advanced your REI objectives.

Conversely, if you're an investor in So Flo, are familiar with the group and have chosen not to join as a member, I'd be curious to hear more on that decision as well. 

Thanks @Austin Youmans ...that perspective is helpful as I'm conducting my analysis. I'm looking to develop guidelines that if a property doesn't have the potential to meet, I don't waste time on it. 

Hi All...for those who Buy and Hold Multi-Unit properties for positive Cash Flow, what process do you use to determine your minimum acceptable Total Annual Net Cash Flow per purchase? 

I've heard several people say they need to net no less than $200/door but if you're talking about a duplex that's only $400/mth or $4800/yr versuss say a 30 unit complex where the same $200/door equates to $6000/mth or $72,000/yr. For some the $4800 duplex would be great, for others $50K or better is the minimum acceptable, so they'd only consider the 30 unit complex.

To be clear, I am not asking how to calculate CF, but I would like to understand what are some things to take into consideration when determining Annual CF criteria that make an investment worth your time and effort to pursue?