All Forum Posts by: Aaron Olson

Hello,

I am curious if anyone here is using any sort of mobile expense tracking application for there properties? I am most interested in android based apps and am curious how people do this?

Thanks.

Thank you both for you responses.

@Bill Ham if cap rates aren't used for single family homes is there another gauge one should use?

Some apprehension i have with multifamily in my area is that generally they seem like they are in ruffer shape. (Maybe this is every place since i am really new to this) If in decent shape they are expensive. People are doing it here obviously. (not sure if they are getting killed on the deals however)

@Will Barnard maybe your suggestion of another area might be what i should do. This brings up another challenge, i know possible areas i would love to live and enjoy visiting and it seems those should be where i look first since i could easily check on the unit? However, id'ing a property from afar or even those that are worthy of purchasing would be a challenge. How does one do this?

Thanks again for the info and thoughts.

Hello,

I recently found this site and have been doing a lot of reading on it. I have been exploring buying my first rental property. I have been focusing on looking for a single family home. My reason for doing this is i am tried of lack of control of driving profits on my money in the stock market, etc and I want to be the driver as to if i make or loose money. I have owned 3 homes where i bought with open basements that i could complete and be out to do it all over again so i am a handy guy.

In my area I think we can get about 1000 (conservative) a month for a 3 bedroom 1+ bath. Twin homes/homes similar to others going for the 1000 run currently about 135,000. Our market was little changed even during the "bubble".

My question is, this seems to yield a cap rate of about 5% which in my reading is low and would ideally be about 10%. Would anyone ever buy something like this and if so when does it make sense to do this? If it doesn't why?

Thanks again for the help and the site.

Thanks for all of replies.i understand this could vary but what percentage would you think you go down to doing a cash deal? Also what items do I need to make sure I do closing the deal to make sure all is on the up and up? For example I know that appraisals are part of the closing. Should I still do one?

Hello,

I am new to property investment and am considering buying a place for cash. I am wondering what benefits there are to doing it this way and what things do i need to consider doing this? How about negatives?

Thanks for the help.