All Forum Posts by: Roderick Brenes

Thank you @Franklin Romine , I will certainly keep this in mind. I've only been looking at nicer properties in better areas just because that was the criteria I had set out for myself, but I may start to consider lower income areas as well.

@Lee S. I'm not expert on REI, so I'm the wrong person to ask this stuff :) Your questions might get a bit more traction if you start a thread about a specific topic.

@Leo A. When you type @ and begin typing someone's name, they pop up on the bottom of the text box.

With regards to the stock market, it's at an all time high. EVERYONE has made money in stocks in the last few years. I'm looking for diversification, and I have a 30 year timeline. I'm more concerned with acquiring a few properties at low interest rates than my exact ROI, but I'd be happy with 4-6% long term.

Thank you for the offer @James Syed ! I'm not actually buying right now so don't knei the exact numbers. I'm also struggling to wrap my head around some of the lingo. From zillows calculator, if the property is 215k and i put 20% down, taxes would be $215/mo and insurance 67/mo at 4.5%. I'm not sure what a normal vacancy rate it or how it's measured. For repairs, I'm not planning on getting a place that needs any large fixed immediately but not sure how to calculate for the future. 

I have also considered buying something cheaper, like 180k and just putting more than 20% down to reduce my monthly payments. 

I'm self employed and need to plan for retirement. My original plan was to buy a couple properties that would be paid off in 25-30 years and be a source of income. To be honest, I'm not very interested in a lot of REI stuff like creative financing, OPM, flipping, or even investing out of my area.

I basically want to buy and hold properties in my area and have a management company take care of them.

Am I misinformed and this is a bad strategy?

After posting a question in another forum about potential property specs I was looking at I discovered that some of my original expectations were not realistic at all. Now I'm rethinking my whole strategy.

If I'm not that interested in the details of REI and just looking to invest/hold, am I better off just not even getting involved?

@Matt R. Triplex for 60k...in the Central Valley? I've seen 'em go for about 300k around here. Maybe around 200k with need of rehab in bad areas.

@Aaron Mazzrillo If I'm breaking even or even losing a bit of money, I don't see the downside of owning several properties outright in 30 years. It's not fast-paced fancy REI, but I was under the impression that this was one strategy.

Or did you mean 60k would be the 20% down payment @James Syed ?

Purchase price at 60k? Just not going to happen.

What is the 2% rule @Lee S. ?

Thank you for the insight @Franklin S. !

If I'm looking just to break even on a place that rents for 1200, what would be my target purchase price (20% down)?