All Forum Posts by: Nick Mauren

@Frank Geiger it definitely isn’t much cash flow. I have some areas identified, but I have not dug real deep into looking for deals or anything. I need to do more research.

The nice thing about my house is that I already have it. No research needed, but I also know that I shouldn’t take the easy path just because it’s easy. Thanks for the input!

@Allan Smith, I know what you mean. When I initially started thinking about renting this house, I thought I could sell for $240 or $250, it didn’t seem like I’d end up with much after everything was said and done. Now it’s enough where it might be worth it. There are other units the exact same as mine that sold for around $250K over the summer and another listed at $270K right now.

It sounds like you and @Ralph Justiz are both saying a little more research is probably needed. Honestly, I haven’t looked much at what else is around for investment properties because selling wasn’t really on my radar at first.

@John Teachout, yes that includes setting aside for cap-ex, maintenance, and vacancies. I feel pretty good about not losing money. It’s just not all that much cash flow either.

So I currently have a townhouse and we are going to buy something that fits our family a little better in a few months. I am in the process of refinancing so that I can take advantage of lower rates, eliminate PMI, and get a lower payment to increase cashflow. I knew that I had a decent amount of equity in this house but I found out today that my appraisal came in about $10,000-$15,000 more than I expected. So here is my question.

It's a nice house in a nice neighborhood and the home values have risen a lot over the last few years.  I bought for $223,000 in 2016 and the appraisal came back at $260,000.  My loan is right around $200,000.  If I were to rent it out, I would get around $125 a month in cash flow and the house is 7 years old I don't see much in cap ex in the immediate future.  With $60,000 in equity, am I better off selling and using that money to buy a couple properties?  Or should I stick to my plan, rent it out, and hopefully have a lot more equity a few years down the road?

@Anthony Wick I have been reading up on this for awhile but I will keep at it. I probably haven’t looked into the forums as much as I could so I am sure there is a ton of info out there for me. Thanks!

@Taylor Hudgins thanks for the advice! I will check out those books and the website you mentioned. It sounds like that could be a great resource!

I currently own a townhouse and we are looking to buy something a little bigger for our family in the coming months. My plan is to keep the current house and rent it out. I am currently in the process of refinancing because I can save around $100-$150 on my mortgage payment with a lower interest rate and hopefully no PMI.

I’ve looked at the numbers and feel pretty good that I can cash flow about $100 a month, after accounting for expenses, vacancies, etc. I’m leaning towards using somewhere like Renter’s Warehouse to find tenants but will likely manage the property myself. I just feel clueless when it comes to finding good tenants.

I’d love to hear what everyone thinks about my plan and what other things I need to consider, plan for, or may overlook.

Thanks for the advice @Kelly Maguire.  The rental property calculator was helpful.

@Levi T., I will likely be buying a townhouse that is in need of some fairly light interior work, but nothing major. If the HOA dues cover the exterior, could I adjust the CapEx down much?

Ideally, I would find something that needs more work and buy at a deeper discount but it looks like that will be tough to come by in the area I am moving to.  There are many personal reasons for the location but given that I would be living in the house for a couple years, does that allow me to be a little more liberal with the purchase price, or should I not even factor that in?

I am going to be buying a house soon to live in and in a year or two I would like to move out and then rent it.  I have a good idea of what I could charge for rent in the area but what is a good way to evaluate what I should pay for it?  I know that cash flow is important, but is there anything else to take into account for the purchase price?

I am currently looking for a house that will probably end up being a live in flip.  What should I be looking for in a house?  I have remodeled two houses in my past and am not afraid of getting my hands dirty.

What are the types of things I should look for in a property that will have the biggest ARV impact?