All Forum Posts by: Grace S.

Looks great!

@Bruce Runn Thank you!  I just put in an offer on a different property that has much better COCROI and Cash Flow.  I appreciate your help!!

@Bruce Runn This is why I sought out an opinion on my deal.  OK, yes, 2% is low, but I was planning on managing it, but you are right, I should always keep it at 10% just in case I can't manage for some reason.  Cap ex I was thinking since everything is new, that I wouldn't need to set aside 10%, but you are right, one never knows what will happen.  AND I didn't even think about the taxes going up because of the increased value!!  Thank you!  I am not sure what the interest rates would be after construction, but I was going off a Finance of America's quote to me.  I think that are a pseudo hard money lender, but I have not had a good experience with them so far.  At least with my particular lender.

Yes, this quote here is exactly why I came here.  I really appreciate your feedback!  @Bruce Runn "The best news is you are starting to run the numbers and ask questions of people who have more experience and I've found the Bigger pockets community a great place to pick up the info you don't know. Good luck and you start on your adventure." 

@Noah Chappell and @Patrick Giblin thank you so much.  As much as I like the deal, I am leaning away from it based on the responses here.  I appreciate your time in responding.  Yes, I probably should use my money better.  It is just that it is in a great spot as @Alyssa Strom has pointed out, but I would not be living there.  So, yes...all 3 of you are correct.  I just need to detach emotionally and move on.  :). Thank you all so much!

@Daniel Zapata Thank you!  I tried to tag you in my first response to you, but I couldn't figure out how to do it.  Dumb.  Anyhow, I will try and run the numbers to see what will make it work.  Yes, our fees are lower here in MN, I think, over CA.  :)

@Daniel Zapata thank you. I appreciate the response. 

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Great post!  Nicely done and thank you for your service.

@Josue R.Just purchased in WI. First one in 10+ years. Getting back into it. But, market is hot. Definitely making sure it is cash flowing with a high COC ROI. Good Luck!