All Forum Posts by: Nigel Boles

My first meetup for an aspiring Real estate investor and i'm so excited to attend!

@Ed Emmons @Scott Hollister @Hadar Orkibi @Soh Tanaka

This is all excellent advice! Thank you all for the feedback. Going forward I will defiantly remember this.

 @Ed Emmons I actually really want to branch off into multifamily's. Large scale multifamily.  That's where i want to be with a few years of Real estate investing under my belt.  I thought it would be a better idea to start off with single family housing and maybe a duplex and live in one of the rooms.  

Hello again BP members.

My name is Nigel and I'm super new to Real estate. So please be gentle.

I believe I found a nice deal on a rental house in HOUSTON,TX. I was crunching the numbers following Brandon Turner's "Four Square" method found here and would appreciate it if someone could go over my report on this one house. I really do feel like i'm missing something important and i'd like to know where i stand on this very new concept of real estate before continuing and purchasing the house.

Cash flow

• House listing price : $135,000
• Rent price : $1300
• Cash flow : $301.34
• Annual Cash Flow : $3616.08

Additional fee's

• Taxes : $2336 -$194.66/m
• Insurance : Estimate of $200/m
• Property Management: Quote of $90 per house 
• Lawn/Electric/Utilities - Tenant paid
• Rehab : $0 No rehab
• Mortgage: $514
• Total monthly expenses : $998.66

Cash On Cash Return Investment 

• Down payment : $27,000
• Closing Cost : $3000
• Rehab : $0
• Total Investment : $30,000
• COC ROI : 12%

So here is what I've came up with. I'd like to think this is a good deal and a good start to a newbie. So if any of you could look over these numbers and correct me where I am wrong I'd really appreciate your help! Again, I'm still new to this and very scared of starting off on the wrong foot. 

Thank you!

-Nigel.

Actually Do It.

 Thanks so much for the book recommendation! I'll be sure to check it out asap!

Hello Everyone,

My name is Nigel and I'm new to the real estate scene. I live in Denver Colorado, where I'm trying to start my business. I'm trying to switch career fields from IT (where i am a IT systems Analyst) to Real Estate Investor. I've focused my niche on Student housing, rent to own, Whole sailing, flipping, Single - duplex-triplex renting using an online portal; maybe Yardi.

I was IT support with Yardi and I know all the bad's with it..

Since i'm new you're probably thinking I'm alittle scared and confused about starting in Real estate...

Well you're right!

I have been studying hard to change my career, from watching the entire BP free introduction to Real estate, reading the beginners guide, many youtube videos, writing my own business plan (Im pretty good at that.) and then some!

But I still have some questions I can't seem to find a definite answer on... 

1. Is it "okay" to have debt in your Real estate empire? - I understand that you'll be paying it off over time, but what i'm afraid of is having Multiple properties that are generating cash flow but still have 500K+ in debt for the next 30 years.
2. Closing is still new and confusing to me.. I'll probably go with a Agent.. Because I dont know the best way that works out for me! What would you recommend?
3. Any tips or anything to look out for with Title companies when closing?

I'm still expanding my knowledge on these subject matters, but these questions are holding me back... So any help will be appreciated!

Thanks for your time and hope you have a great day!