All Forum Posts by: Michael Sylver

A couple quotes from local brokers.  1% buy down on the rate with 20% down.

@Jack Mawer - thank you for the feedback.  What is the strategy to optimize cash flow and how should I use the cash flow?

I'm a high W2 earner, so the cash is not needed for personal expenses.  So my question is - would you use excess cash to reinvest into the mortgage, keep cash aside for expenses?  Thank you!

I'm considering a 4-unit condo complex.  Its brand new construction, rented to the local university (1 year leases) for scholarship students.  I modeled the numbers (below) with 20% down, however the cash flow is tight.  I could do 25% down to provide extra cash flow per month, which I would eventually reinvest into mortgage pay down.  In my previous duplex, once my reserves would hit $5k I would then pay down the mtg.

This is an a growing area outside of my local mid-south metro.  2 universities, military base, and new battery plant (being built) plus a local boom of transplants in the mid south.

Asking price is $840k however it just came to market, so not sure how much negotiating room.

Would love to hear thoughts and opinions.

View report

*This link comes directly from our calculators, based on information input by the member who posted.

 Thanks for sharing.  I'm in Nashville, need to find a RE CPA.

@Nathan Gesner appreciate the response.  I don't necessarily need to see as "pending" status.  By under contract, I meant tenants in an active lease so I can see what they paying in the area vs. asking prices only.

As I'm evaluating rentals, I'd like to see actual comps for rentals under contract. Whether STR, MTR, or LTR. I'm actually targeting MTR specifically. I'm assuming I could go through an agent, but wondering if there is a good internet source... thanks all