All Forum Posts by: Nicholas Novak

First National Bank of PA is great. Also try Chris Litzler, he's a local commercial mortgage broker. 

I have a flip that was sold before the new year, was supposed to close on the 17th of Jan but we are waiting for funding on the Loan because it’s a USDA subsidy.  Stupid wall... 

Completely Rent ready and Turn Key. All that is needed is tenant placement.   Neighborhood Class - C 

House boasts new furnace, panel, water supply lines.  New Kitchen and Bathroom, new carpet in the bedrooms. Recent roof, vinyl windows, exterior doors, driveway, H2O tank only 5 years and plenty of life left. All of the Majors are recent. 

Market Rent $750/month

Taxes $1143/year

Water $25/month

Insurance $30/month

Management $75/month

Debt service (P and I) $215/month  - Assumes 20% Down 

Net Rent - $3717/year

Down Payment $9980

Cash on Cash Return - 37.2%

Wow Nina! Thats a great idea on business model.  Most realtors I come in contact with don't seem to understand they are really running their own business and acting as a sales person.  They wind up on a team, taking on all the buyer clients while the agent who runs the teams takes on all of the listings and the only predictable time trade. Crazy....

@Ashley Pimsner I would love to hear how LED's can save on Utilities...

Can you send more info to [email protected]. Is the seller willing to finance any of the down payment? Balloon after 5 or 7 years... 

I would be interested in whatever you have in Ohio. Possibly surrounding states.  @Todd Keith shoot me an email [email protected]

@Joshua Ryan Meador welcome to the site! Reach out any time, always good meeting new people!

Yes I believe that's correct.  If you're tax mailing address is different than the property address it will be considered a non-owner occupant. Also some cities require rental property registration and permitting/inspections. Tough to get around that...

House Bill 920 credit will stay until the community votes for a change, i.e. levy or something.