All Forum Posts by: Mason Osborne

hi all! I am considering converting my single family home in Richmond VA to a rental, this would be my first step into the real estate world. I've tried many of the free available calculators to determine cash flow and i come up with about $150-200/month after accounting for current mortgage, taxes, insurance (not landlord policy yet, is landlord typically more expensive?) 7% vacancy rate, 10% repars,10% capital expenditures, and 5% management company fees. Is this enough free cash flow? Have i accounted for everything in expenses and what ive calculated seem reasonable? This is my first primary home built in 1986. Ive lived here 4.5 years bought for $302,000. I Owe $276,000 and zillow has the sell value at $422,000 and rent estimate at $2,500. Any help/advice/thoughts are appreciated!

Thank you

Mason 

I am what I would call "education phase". I have thought of investing in real estate for some time now but always run into the naysayers that have turned me away. I have just completed the ultimate guide and while I found it helpful, I'm still a bit unsure of how to get the ball rolling. Anyway I would be interested to meet and learn from you all if the meeting hasn't already happened and people are still interested! 

Thanks!