All Forum Posts by: Liz Ellis

@Bryan Mitchell Thanks for the question. The top 3 are fixed and accurate within a couple dollars. 

Princ & Int 525
Tax 1600
Insurance 1062

We calculate:

Repairs/maint (10%) 1,980
Vacancy (10%) 1,980
Property Mgmt (10%) 1,980

Here is the run down for my first small multifamily investment. Purchased in Feb 2020, 5 months ago at the time of the post. Found on the MLS and used a local realtor contact to purchase. Feel free to ask questions or pass on any feedback.

Duplex / front and back / both units are 2 bed 2 bath / B- neighborhood / built in 1980 / located in Texarkana, AR / list price was $154k

Final purchase price $138,000 / 25% down / 4.5% int rate

Total Annual Operating Expense: $14,916

Total Annual Rental Income: $19,800 ($850 & $800 per month)

Total Annual Cash Flow: $4,884 / $203 per month per door

Cash on Cash Return Year 1: 13%

I have really enjoyed owning this property so far. Fortunately, COVID did not impact the employment of either tenant. I am looking for a new PM, so if anyone knows a good company in the area, please pass them on to me. There is a detached two car garage with an efficiency apartment that has been vacant for years and will need a full gut. Rental potential of around $400-450, so I will take on that project some time in the future. 

I am trying to figure out how to calculate the lifetime ROI on a property that started off as my personal property, but I converted to rental and have now sold. From what I understand cash on cash return is really only a metric for an initial year of a property investment, so looking to better understand what my return was over the 4 years I've owned it. Any help is appreciated!

My Grama has 6-7 acres of 3/16 mineral rights to some land near Hannah, Oklahoma. Her sister has the same amount. They are looking to sell. How in the world do you advertise this or find out how much its worth? I know nothing about mineral rights but I want to help them get a good price. Thanks for any advice :)

@Timothy VanWingerden how did this play out?

Thanks everyone for your input!

Bridge Turnkey. I love their model. I love the contact I’ve made there. Turnkey makes the most sense for me at this time, I think.

BUT, I am concerned about the estimated rent that Bridge uses on their website for each property. When searching in the neighborhoods for comps, nothing is renting for as high as they are estimating rent. One place is estimated to make $995, but most comps are more like $850. One place marked at $1100 I believe, same idea, comps weren’t even hitting $1000.

This is using zillow and rentometer.

I’d like to hear from those of you who have used them, or similar platforms, to see how accurate the company’s rent estimates were. If you can’t get what they estimate, it appears it would immediately draws you below the 1% rule.

-Newbie :)

@Maurice Lightner ok! Thanks for responding! And way to go on your first deal :)

I am looking at BRRRing something out of state with my good friend who is an excellent contractor. Just unsure of the next steps for structuring the deal and whatnot. 

Good luck! 

@Maurice Lightner

Hey here! Did you do this deal? Im looking to do a BRRR with close friends, and I am out of state also. Any tips?