All Forum Posts by: Milan Joshi

Would you buy this property with initial negative cash flow?

Property purchase price: 435k

5 condo units under one roof total property tax is approximately $7900. Hoping to convert back to apartments after possible purchase in hopes of saving on property tax. Important to note that there's no HOA. These are the only condos in the neighborhood.

Each unit rents for $790 currently (rents can/will be increased to $850)

20% down payment, 4.5% 30 yr mortgage

After accounting for 5% vacancy, 10% repairs, 10% Capex, and 10% property management cost, it comes to us being short approximately $110/month.

Brick building in a nice area with great tenants.  New roof 4 years ago.  New HVAC in 4/5 units in last 3 years.  Solid B class property with great rental history.  Very well maintained property with no deferred maintenance.

I have the income from primary job to cover any major expense thrown our way (including roof if worst case scenario).  

Thank you all for the reply.  It is much appreciated.  

Thank you all for your reply. I appreciate the responses. I am a busy professional and looking to use real estate as a cash flow side income/long term investment. I'm not looking to do flips/wholesale/BRRR..just buy and hold. So I wholeheartedly agree that I would like renters >$700 range due to lower "drama".

Does anyone have experience with any property managers in the area?  Any recommendations?  This would help my search and approximate costs tremendously.

Thanks you

Hi all,

We moved to the Tri-cities area 3 years ago for work and after we paid off some student loans we want to start to invest in real estate.  Real estate is a new world to us and we are not very familiar with Tri-cities market.

Our question is: 

We are looking to invest in Johnson city given ETSU/Hospitals etc. Is Johnson city a good place to invest in SFR in terms of future growth? Is there any new industry coming/leaving Johnson city?

Any particular region of the city we should stay away from?

Any one know any good realtor that understands properties from an investor standpoint?

Thank you all very much.