All Forum Posts by: Mehmet Eksik

Joe, thanks for the advise i am here discussing with you guys because i am new at this. I am more numerical person as i am an engineer as you can tell. I love numbers. I think what you guys saying is that in the beginning it is better to have less equity and have more investment. Is it less riskier that way ? To answer to your question"when do you start making profit" it will always depend on appreciation is not it . It looks like you can start making profits earlier on the Q1. But if you decide to sell Q2 you will pull more money as you have more equity

If i dont put more money down , what am i gonna do with extra 16K .. sitting in the bank unless i found a deal produce more then %15 return. Plus that creates  more equity in if i sell it unless the market crashes ..

how come cash flow is less in second option? you are putting more down..My fear is that i am getting only %3 equity if i decide to sell house in short term i will lose money as the purchase price is not below the market . and I am putting %5 down in second loan type( %2 difference goes to PMI up front instead of monthly charge)

if i run my numbers like with %100 cash financing (including capital expenditures and all that )  i am still getting %4 positive cash flow. Plus %2 yearly appreciating. I do think this is a good deal but just not sure if putting more money down serves me better financially.  My primary goal is to create enough passive income to retire early and travel the world.   

That extra 16K cash putting down not only generates extra $200 monthly income also will give me extra %7.5 on equity . The purchase price is not below market. And i will have to spend more on renovation

Both roi and cash flow meets my target on both case . When I put 16 K more down payment it brings me $50 extra per door total of $200 . What I mean by is that 16k differences I pay up front generates 200$ a month . Which is %15 . When you have 17 K on savings account it only gives you %1 a month. Or use that money towards purchasing my second house ? Tough decision 

I am buying my first property for rental income . It is 4-plex . I have couple finance options. The first one Is putting %10.5 down 4.62 interest rate no seller concession . So I am paying 37K out of my pocket with %10.5 equity . The second one is %5 down %5 intest rate with 3 percent seller concession total 21K down but only having 3% equity . With the second option my cash and cash return higher but my cash flow is $210 lower per month . And I feel I am wasting money for having only %3 equity. Which route should I take , any input would be helpful .

Thanks John, Do you know /recommend any real estate attorney from Albany area?

Thanks for the help !

Hello I am just a new member .. Found 4 units offline. Where can i find contract form for sellers to sing. I cannnot go to my real estate agent as buyers wont pay for the agent. From upstate New York. 

Thanks