All Forum Posts by: Michael King

While that's not impressive it will probably still make you money, depending how you do it. Assuming property tax is $2000, you pay $80 a month PM plus first month's rent of $1200 for finding the tenant, $30K down, 5% interest, $500 insurance, no HOA and no repairs or reno, that's 6.7% return or $2K cashflow per year. Not gonna make you an instant millionaire but the tenants will give you a free house.

This is from my excel spreadsheet which may not factor everything that you have to. Some in my portfolio don't perform that well, but are still putting change in my pocket. It's not always about making a killing with this, multiples is where it's at.

What's that saying, "Take care of the pennies and the dollars will take care of themselves."

Nathan I think you have a great deal right there. It falls pretty close to the 2% rule (1700/97500 = 1.75%). The 401K loan is awesome - as long as the 5.5% goes back to you. I have a 401K loan at 6% and all that interest goes back to my account, so I assume you get the same deal. I don't know what PITI is though. Okay just figured that out. Principle, interest, tax, insurance, duh me.

At any rate, $100K for a cash flowing duplex. I would jump all over it, based on those numbers. 

Hmmm maybe 'Mr. Big Shot' was used erroneously and I back down from that. You don't need to be more sensitive with me. I'm here to learn, like you, and while I believe I have thick skin, I was surprised to find myself uninvited and labelled a troll. 

Moving forward I'll be a little more careful with respect to the content of my comments.

I appreciate you taking the time to comment. Have a great night.
 

 Bud, I'm not a hater, nor a troll. I came here to learn and I don't appreciate a cheap attempt by anyone on a soap box to bully me. You included. I meant no disrespect anywhere in my posts and got shouted down when discussing a neighborhood local to me that was on topic. If I've exceeded your tolerance for abuse, you can always trigger the 'abuse' link. 

Excuse me? Not sure I understand exactly what you mean, but it seems to me Mr. Big Shot, that you are suggesting we leave the website? Can't really tell since your poor English or typing skills are making me question almost every sentence you write. 

And if you knew anything about Ferguson, MO, maybe you'd understand our light hearted side conversation. 

So Mr. Big Shot, please continue to tell us how great you are. 

LOL what if I said I'm not gonna go there? If I plan my life to remove as much physical risk as possible by not going there, does that make me a coward or strategist? 

I see it occasionally on another forum when someone replies to a thread on a mobile device. 

Is it Cozy.co? Don't know if it's an app.

All mine are brand new constructions, SFRs, and they're making me money. 

Would Ferguson MO be a good area?