All Forum Posts by: Mario L.

Thanks Alecia for that!! I actually wrote down all the appliances and capex items and amortized it based on the projected life expectancy and it all comes to just over 15%! 

Thanks again 

That 15% will cover repairs/capex/vacancy or you mean 15% each? 

I appreciate it! 

Thank you! So most do not worry about capex, so they will either patch it up to keep going or go into debt? What is the reasoning behind this? 

Thanks again for your response 

Hello all,

I hope everyone is having a successful back half of the year!! I am trying to calculate how much to set aside for CapEx and repairs. Roof, A/C, kitchen, bath, windows are all updated as of 1 year. This is a duplex and this will be the first time I am renting both sides since I was house hacking. I also am going to forgo the property management and do this from out of state and see how it is. My thought is I can potentially save faster and get a cushion of money in a savings for the property.

Thank you 

Good Morning All,

I need some assistance. I am thinking about moving to Jacksonville, NC and I have been looking for houses in that area. I am thinking of buying an affordable house living in it for about a year, move out and use that property for a rental. Also, what is the "standard" price for a home that you are living in. For example the 70% rule for fixer upper properties. Is a house you are looking to live, maybe you will pay 80% or is this not a thing.

thanks 

@Jeremy Lee your post was very informative and helped!! Thank you for putting that in perspective 

Let me see if I understand this. If I borrowed $100,000 from a hard money lender, the interest would be $10,000 - $15,000 and an additional $2,000 - $5,000 in points. That money would come from refinancing the house in hopes that the property value would go up due to renovation. Am I getting it?  

I appreciate the feedback!! Jason, that 10-15 percent is based on the total property value? What do the points mean? 

Hello everyone!! I have been doing a lot of research lately of rental properties and mortgaging. I have read and watched videos on the concept of hard money lending. Can someone break down the idea of hard money lending, maybe by numbers to help me figure out exactly how hard money lenders work. I do understand that depending on the location will vary in rates. Any knowledge is knowledge passed! thanks