All Forum Posts by: Melissa N.

can you send me Charlotte, Columbia and Ohio? 

Did you account for cap ex and repair? What about property management? (factor in some even if you aren't hiring someone. That will leave you he option later.

I say if you are sure they will cash flow - then jump away!

Great info, thanks. We'll be visiting at the end of the month and I will taking your list with me. I can let you know my thoughts after meeting with some brokers. 

Id say you need to talk to a CPA but why sell it at the same price you paid?

Have you used the rental calculator under Tools? Plug in all of the income and expenses and see what your returns will be. Only buy off actuals, not the potential (that's your bonus!)

We are actively looking in Columbia (though I don't live there so you probably know more than me about areas!) so I do know a bit about the market. Happy to chat if you need. 

Hello Ryan and welcome!

Just a word of caution - while most people on this site are good people and super helpful, there are scammers anywhere. I'd just caution about posting too much about your credit score and such.

Find a great deal and private money will easily sign up. Create a sample deal package (see themichealblank.com - he does multi syndication but you'll get the idea). But be careful about asking for private money as laws may apply depending on the situation. I'm sure someone else can chime in as I don't do this so I don't know much about it. A partner eliminates those legalities. 

Good luck!

Hello Roni,

Ballantyne is a beautiful area but not sure you will cash flow very well. Of course, you may find deals through driving for dollars or direct mail. 

@Michael Bowman - any ideas for Roni as far as cash flowing areas (I'd guess outside of war zones).

For an inspector, Paul King is a very thorough. Be sure to check the trailing 12, make sure your projections include cap ex. If there are tenants in place check for evictions so you know who you are inheriting. 

Good luck!

Have you read the book on managing rental properties? In there I thought they had a really good idea -provide choices such as with a one year lease the rental increase by x with a 6 month lease it will increase by Y, Month to Monthe will be z. Like a Starbucks menu! Good luck.

We are running numbers on a 9 unit near a large university. The owner states it is usually 100% occupied. I put in 5% for vacancy, 5% repairs and 6% cap ex (they just did the roof and parking lot as well as a few water heaters). Should I also budget for unit turn?

Secondarily, how much does unit turn generally cost you?We will have a property manager which is 10%?.