All Forum Posts by: Nick Ruffini

@Eric Greenberg Yup, I would have to pay sewer, water and trash. I reworked my numbers, and even though the mortgage came back lower than expected as well as the insurance, I'm still looking at a 3-7% COC return, which is less than half of what I'm getting in the market right now so it's a pass. It looks like it will cash flow about $300/month, but not worth the outlay of cash. I appreciate the insight!

@Zee Abbas Agreed. I re-worked the numbers, and got exact numbers on the mortgage, down payment, interest rate, etc. It raises my COC return but no where near what I'm currently getting in the market. Thanks for the input!

@Bruce Woodruff Thanks for the input. I agree, it’s a little slim for me too but thinking it may not be a bad first deal. My gut tells me I need to understand the reality of a rent increase and that I may be trying to push this deal though even though it may not be the best choice.

@Sam T. I'm pretty confident I can get an additional $75-$100 per unit but just ran the lower numbers to be safe. 

Yeah, it's in the Philadelphia suburbs and the taxes have always been notoriously high there. 

@Don Gouge I totally agree, it's not a homerun. It's my first deal so I'm just trying to land something that gets me in the game and cashflows, albeit lower than I'd like.  

@Ariel K. I allocated $100/mo for vacancies and $150/mo for repairs (plus CapEx reserves) You're thinking that's too low?

@Nicholas L. have confirmed that they are. Thanks for the heads up!

@Allicyn Aubut Agreed. And I have some extra expenses built in there that probably won’t have but keeping them in just to be on the safe side. Thanks for the feedback!

@Brian Armstrong Thanks!

@Allicyn Aubut The goal for me on this property is to get in the game instead of standing on the sidelines. There’s an opportunity to value add a little and raise Rents but I’m just looking for something to hold that positively cash flows. Thoughts?