All Forum Posts by: Lesley Whitley

We started investing in Ft. Worth, TX area just last year and found a few good deals, then it seems like prices skyrocketed and now I can't find much where the numbers work for cash flow.  That is good for the properties we purchased early last year, but finding more deals has proven difficult past few months.  I am the reverse of you  ... previously investing in Texas and now investing in the mid west.  Good luck to you as you enter this new market.  Texas is a really great place that we have grown to love.

@Greg M. Thank  you for your input.  I did search topics for the keyword graveyard and found that work in all kinds of posts where a different meaning was used.  I appreciate your feedback.  This is an old graveyard (appears to be) and in a small area like a little neighborhood park.  I think it look charming and I would not mind living across from it, but I hate to buy a duplex and then have trouble finding tenants.  

I have my eye on a triplex that looks promising.  My only concern is that it is directly across the street from a graveyard (old school type with the large fancy headstones, etc.)   Just wondering if anyone has thoughts/experience in renting out places like this?  It looks peaceful, and it's on a cute street, but just wondering if it might be hard to get renters in there?  

@Patrick Drury  and @Brandon Goldsmith Hi guys, thank you for your encouraging comments. I truly think I am being overly responsible and cautious in my calculations. I use the bigger pockets Rental Property calculator so I know it is not bad math ... but probably what i am putting in. It amazes me that these places in Ohio are 100+ years old so I think I am probably going too high on the repairs and the cap ex expenses? Those are really the only two expenses that I am estimating in the calculations ... other than vacancy rate which I calculate at 5% which I think is reasonable. I appreciate you both offering positive feecback about these markets and the ability to find cash flow on these MLS listings.

@Michael Swan  Yes, I do know you like to talk on the phone (and in person too, haha) ... but you are a wealth of knowledge and a fun person to talk to.    Thanks for your comment on my post!

@Christopher Abele Very interesting point and I had been wondering if lots of the MLS listings are purposely priced high by sellers thinking "i don't need to sell, but hey, if I could get X price then I would go ahead and sell" . I live in Southern California so buying investment properties here are super expensive. We bought a fourplex, but it is not feasible to buy a lot at the price point that properties go for her. That is what is leading us to look out of state. I appreciate your point of view and your feedback!

@Brandon Goldsmith Thank you for your comment which makes me hopeful.  Everyone says those markets are good for cash flow (maybe not as good for appreciation) .... I think I might be being overly responsible and overly cautious with my calculations, as another member suggested.

@Clay Boykin Thank you for helping me, I have gone over and over the numbers (non stop calculating over the past 2 months) so I really think I must be calculating something at the wrong amount. But I am not sure what I am doing wrong. I use the BP Rental Property calculator so it has to be something I am inputting. I am currently looking only at properties on the MLS as I don't know any wholesalers there. But others are finding cash flow on the MLS, so I think it is me. I appreciate your feedback.

@Joshua Janus  Thank you so much for your response to my post.  I am calcuating vacancy rate at 5% (which is what I calculate in most markets).  Do you think that is too high?  But I do think I am calculating something wrong because on paper, these are always minus cash flow (even if I calculate using "market rate rents". Thank you again!

Thank you for updating this post.  Unfortunately I just missed your out of state meeting yesterday.  Wish I had seen this sooner but I signed up on your mailing list and I look forward to attending future event.