All Forum Posts by: Lisa Daconta

@Account Closed Thank you for your reply!

I interviewed a couple PMs and found one that would only charge us $100/month since we're military =D. The HOA covers pool, BBQ, playgrounds, water/sewer, gas water/heat, exterior/roof maintenance, trash, and termite control.

The HOA does not cover electricity. Do owners generally cover electricity for tenants in condos?

Thanks again,

Jesse

@Marian Smith That's true. Thank you for the reply :)

@Nathan Gesner Thank you again for your input =D

Hey guys,

I found a 1500 sf 4/2.5 condo in a good neighborhood that I feel might be a good deal. Here's what I have:

Price: $89,900

Rent: ~$1500

Estimated Rehab:$5,000 (I believe this to be higher than what it needs): already has stainless steel appliances, new carpet, nice wood floors, granite in bathrooms/kitchen, etc...

HOA fees: $432/month

Property Taxes: $60.20/month

Insurance: ~$30-$50/month

Finance: conventional loan with an interest rate ~5%

Property Management: $100/month

Repairs/vacancy: 10%

ARV: ??? (I don't have good data to compare)

I'm new to investing and I have no experience with condos. I estimate a net monthly cash flow of $300-$400/month. What do you guys recommend? Anything helps :)

@Karen Rittenhouse Excellent advice Karen, thank you!

@Nathan Gesner Thank you for your reply!

I have been looking for events through Biggerpockets but there hasn't been anything that has opened in Tucson. After your post I researched the REIA in Tucson and am now signed up for their next meeting for 11/6/18. Thank you for your advice!

Hey guys/gals,

I'm new to real estate and want to have 1 rental property before I head off to another state in a little less than a year. I feel like I don't have a good handle on how everything is supposed to flow from beginning to end. For example, You search for a good location to invest, you contact a recommended real estate agent/property manager to fine tune your search, next, you choose a house to bid on, etc...

I'm looking to see if someone has a good timeline flow-sheet for rental properties from beginning to end. A few examples are: When do you apply for a loan? When do you contact your contractor when your bid is accepted? When do you create an LLC for the property?

I figured this is common sense to a lot of investors so I figured it wouldn't hurt in asking professionals before I become one.

Thanks guys and happy hunting!

Jesse

Darn, saw this event too late. Have any others planned in the future?

Hey guys/gals,

What are some ways you guys look for quality subcontractors? My wife and I are looking for a carpenter in Rita Ranch, Arizona (Tucson) but every carpenter we've tried to reach has never given us a call back. Just looking for some tips/suggestions.

Thanks!