All Forum Posts by: Mikal Koss

@Andrew R. Lucas

Thanks. Gonna try and visit the city sometime next month. I appreciate you pointing that out.

Looking in to another place now too. Only weird part is that there’s only one picture of the front and it’s been listed for nearly 2 and a half years. 

Listings says Rabons Farm subdivision.

Hey everyone. My realtor just told me the following for a $105k house:

We base rents on cap rate. 10% cap is the average. Purchase Price x 10% and divide by 12. The rent would be $880 per month at 10%

So basically he’s basing Cap rates off gross income not net income. Seems incorrect to me. Am I wrong?

He said the rent was $1000 a month. I said it seemed below market rate (having issues because current Tennant doesn’t want to move). He used that little blurb to try and tell me it was actually a good deal. 

@Andrew R. Lucas. Looking at Arcadia Lakes area right now. Specifically two houses in a little gated neighborhood; 167 and 157 Angel Garden Way.

@Andrew R. Lucas I won’t be down until June or July but I’d love to attend a meeting.

@Thomas S. house we're looking at is $105. Based on comps around the area I think I could realistically $12-1300 a month. I agree with your point, but no multiplexes available in the area that I would want to live in with my family. Going the VA loan zero down route so we have to live in the house for a bit. Mostly just want to get started building equity and possibly 1031 into something more juicy in 5/7/10 years

Stone - I appreciate your input. I'll definitely keep that in mind.

Christopher - Thanks for that. Listened to it a couple weeks ago. Something that appeals to me with the minimal use of debt. Just need to build that war chest. Going to take a while.

Were going to purchase single family for ourselves and live in it while I’m stationed there for 6-8 months. Then when we move again we will rent it out. 

Looking into multi family too solely for investment purposes. Seems like a lot of older stuff geared towards low income. 

Any insight?

Hey guys. Just getting in to this and looking for some input. 

I’m in the Army and will be going to FT Jackson SC (Columbia).

My wife and I are going to purchase our first home there and then rent it out when we leave around this time next year. 

Looking at the market, it seems like a strong rental market with the college and military base. Seems like there are a lot of good options to hit that middle zone of $800-1200 a month rent. 

I explained the cash flow and financial freedom concept to the wife and she is all in now. 

We eventually want to own 15-20 units and live off the income while investing our salaries. 

Basically just looking to talk about the City and Market. Trying to build some relationships so I can continue to buy once we move away. 

- Mickey