All Forum Posts by: Michael Taylor

is the problem at both the shower head and the tub spout?

HEY BP!! I'm just getting started on my real estate journey. I've done a live in flip before I knew what it was but since joining here I've learned so much. I'm looking for some recommendation for some attorneys and I'm also looking for some portfolio lenders. I live in Monmouth county but will travel thanks to everyone in advance

Im a plumber so I’m estimating the cost of a rehab myself much of the work would be done by me... at least for the first few properties

Houses would be bought with cash renovated and refied. I have not made any offers but yes I’m currently looking at properties and have a few in mind. My offer would be around 75-95 no clue if they take it but what if they do. The only issue I have with my numbers is negative cash flow in year one. Is that normal

hello BP I'm new to real estate investing and very excited to get started. ive been analyzing properties use bp and another calculator, but I'm not sure if I'm not using the right number or the deals I'm looking at suck. most of the deals are negative cash flow year but then they are good in year 2. so Ill give you the run down. the neighborhood in a nice working class neighborhood. a mix of single family homes and muli fams. 3/2 are running about 220-270 depending on how nice they are. so I'm looking at properties that need some cosmetic work in the range of 20-50 rehab. so the ideal situation buy a distressed property for 75-95 cash put about 20-50 in the rehab and rent it for between 2000-2200 hopefully more but that looks like the comps. when running my refi I'm use 70% of the arv. the number I run the at expenses are  the 10% management 25% for repairs and maintenance taxes are between 5300 - 6600, 1500 for insurance, and of course the mortgage. not sure if these are to high or what maybe you guys could give some insight thanks in advanca