All Forum Posts by: Shema Turner

Thanks Andrew, you gave me loads of information.

Hi everyone, 

Is there a way one can determine real estate/ market trend for a particular area, lets say in the next 5-10 yrs?  I am planning on purchasing a property and I want to hold on to it for a few yrs,the market currently looks good but I wandering if there a formula or maybe something I should be looking at to determined if this area will grow in the next 5 yrs. 

Any help is greatly appreciated. 

Thanks for the help everyone I really appreciate the help. 

I bought a rehab property for 30k in Columbus Ohio 1 year ago (2000+ sq ft, 3bed 1 1/2 bath, attic and basement) I recently received some comps and similar sq ft houses with 3-4 bed and 2 bath are being sold for $100,000-$170000. 

I was recently laid off and was wondering other than a loan or borrowing from someone, how can I finance the rehab ?

I am considering flipping given the recent comps.  I've  been doing a lot of research about the 70% rule etc but I am still confused, any suggestions what topic or forum would be best for me to research ?

Thanks guys

Hi BiggerP,

I am super nervous about buying my 1st duplex and I have been doing a lot of researching on biggerp and the 50% rule has come up lots of time. If my biggerP family could assist me with the below, are my calculations correct.

Purchase price is $27000 , Renovation $5000

Loans amount $30000 (no interest, loan from a family member, however I pay them back between $300-500 monthly)

My calcualtion

$600 * 2= $1200

50% rule= $600

remaining $600-$300(loan)= $300

$300 cash flow or $150 per door.

Thanks for the replies guys, Hi Chris its a duplex and thank you for helping me, also where can I find an excel program where I can run the numbers moving forward. I appreciate the help.

Thanks for help guys, I appreciate it, Mya you have been very helpful, from your experience what % in cap rate do you aim for ?

MULTIPLE FAMILY ANALYSIS

Hello BiggerP, I am about to purchase my first home, so I have been trying to analyze a deal. I have been using the research I found on BiggerPockets and I am confident that my analysis is right. So I figured that I would post my findings up in hopes that the Biggerpockets council could provide me some prospective.

TOTAL LOAN AMOUNT $30 K (FROM A FAMILY MEMBER)

PROPERTY INFO:

Current value: $41,500

Vacancy rate: 10%

Renovation: $8,000

Property tax: $950 (YEARLY)

Insurance: $1,000(estimate) (YEARLY)

Rent per unit: $650-$725 (MONTHLY)

Purchase price: $27,000 (cash purchase LOAN FROM FAMILY MEMEBER)

NOI = $12,600

Income - Expenses = $15,600 - $3000 yearly

CASH FLOW = $6,600

Noi - Debt = $12,600 - $6,000

$275 per door

One thing that has been troubling me is how to take this research and figure out the cap rate.

MULTIPLE FAMILY ANALYSIS

Hello BiggerP, I am about to purchase my first home, so I have been trying to analyze a deal. I have been using the research I found on BiggerPockets and I am confident that my analysis is right. So I figured that I would post my findings up in hopes that the Biggerpockets council could provide me some prospective.

TOTAL LOAN AMOUNT $30 K (FROM A FAMILY MEMBER)

PROPERTY INFO:

Current value: $41,500

Vacancy rate: 10%

Renovation: $8,000

Property tax: $950 (YEARLY)

Insurance: $1,000(estimate) (YEARLY)

Rent per unit: $650-$725 (MONTHLY)

Purchase price: $27,000 (cash purchase LOAN FROM FAMILY MEMEBER)

NOI = $12,600

Income - Expenses = $15,600 - $3000 yearly

CASH FLOW = $6,600

Noi - Debt = $12,600 - $6,000

$275 per door

One thing that has been troubling me is how to take this research and figure out the cap rate.

Hi Bigger P

Need some help here, where's the best areas in Atlanta Ga to buy rental properties . I am looking for multifamily units with the aim of buy and hold and I am trying to get into an area which is populated with young professionals or young couples.

Also any wholesalers in Atl that would who would love to link up and do some business, let me know.

Any advise? Much appreciated.