All Forum Posts by: Luke F.

I have the opportunity to invest 2 hours away where 100k houses are possible as well as 200 a month cash flow is realistic or locally where my zip code is almost always negative when it comes to cash flow for rentals (350k house rents for 2k).

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After all expenses, Cap x, vacancy, etc, what is your minimum today when purchasing?

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How much does the age of the home factor in here?

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Did I miss anything here?

House Cost	$68,700
Repair Costs	$5,000
Down Payment 20%	$13,740
Total Owed	$59,960
Rent Estimate	$1,000

Mortgage (5% at 30 years)	$322
Management 11%	$110.00
Property Taxes	$21.30
Insurance	$50
Vacancy 5%	$50.00
Repairs 5%	$50.00
Cap X	$150
Total	$753.30

Cash Flow Per Month	$246.70
Cash Flow Per Year	$2,960.40
Cash on Cash Return	0.21545852

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For those condo owners, what do you project as your cap x expenses per month?

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Originally posted by @Travis Beehler:

Hey all!

I want to thank everyone on here, including Brandon Turner for his wonderful webinars, for giving me advice throughout the years, and I'm now picking up my 7th rental at the end of this month! With this rental, I'll be about 60% done with my first goal of having the net rent match my current salary after tax. :) Woo me! :)

I've slowly developed my target market and strategy over the years by talking with people, learning the area I'm in, trusting my gut, and having a cash reserve when things go south. :)

Right now, I'm on track to pick up my 8th rental by the end of summer too! Things are FINALLY starting to get going. It's so difficult and discouraging to try to get your real estate empire off the ground, but if you stick with it, you absolutely can make it happen!

A huge congrats. You mind sharing the numbers on this one?

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Did I miss anything here? Obviously I need a better deal but just wanted to run some numbers on a rental in Colorado. Any advice is greatly appreciated here.

Purchase/Rents
House Cost	$290,000
Down Payment 20%	$58,000
Total Owed	$232,000
Rent Estimate	$1,900

Monthly Expenses
Mortgage (5% at 30 years)	$1,245
Management 11%	$209.00
Property Taxes	$167.00
Insurance	$115
Vacancy 5%	$95.00
Repairs 5%	$95.00
Cap X	$150
Total	$2,076.00

End Totals
Cash Flow Per Month	($176.00)
Cash Flow Per Year	($2,112.00)
Cash on Cash Return	-0.0364138

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Originally posted by @Travis Beehler:

I would agree with people saying poor management. Finding a solid property management person is difficult, time consuming, but they can be worth their weight on gold. Mine is my second one, as the first one just flat out sucked. Wanted to do as little as possible, took days to return my calls, and when something went wrong and we had to involve insurance, he actually told me to fly out there (it's 2,000 miles away), and deal with it myself. I fired him on the spot.

Obviously your first one was terrible but what makes the second one better? How many did you interview?

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For those that have purchased a turnkey property out of state, can you break down the numbers (purchase price, rent price, what you are factoring for vacancy, etc)? Were they what the site you bought it from promised? I'd just like to take a look at how they look compared to what you assumed.

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All Forum Posts by: Luke F.

Luke F. has started 16 posts and replied 59 times.

Post: For a SFH, what cash flow amount are you seeking?

Post: For a SFH, what cash flow amount are you seeking?

Post: For a SFH, what cash flow amount are you seeking?

Post: How much Cap Ex Reserves do you have?

Post: Evaluate this deal on a SFH

Post: Cap X and a Condo

Post: Picking up my 7th rental!

Post: Practicing running the numbers on a rental

Post: Why investors dump their Milwaukee low end rental properties?

Post: For those that have purchased a turnkey property out of state