All Forum Posts by: Patrick C.

Welcome @Jon Reynolds.  Good that you start out early.  I wish I had that itching when i was younger.  But never too late :)

good point. maybe because they want an offer before you have the ability to view?

@Seangy Sum

Depends on your goals to Seangy.  How much cash do you have? How much risk are you willing to take?  Which market do you want to be in?  Do more research and readings.  I myself am learning.

As all the podcast stated, REI is not quick way to get rich; you have to be willing to invest your time and effort, like anything else. Good luck.

Thanks @Jeff G. & @Joseph Adelmann. Good to know what you guys are thinking.

@Joseph Adelmann

Good point on cap rate.  

What do people aim for as far as the cap rate and cashflow for buy and hold long term?  Thanks.

Hi Sean (@Sean Kruger)

This house doesn't. My other property does. That's why I didn't include HOA in the calculation. Thanks.

Sorry, more information.  This is for sing family.  LMK if I missed any info that you may need.  AZ area.

Hello:

Newbie learning the rope here.  I am looking at an investment property for buy & hold.  Here are my numbers, can anyone comment on this. Whether it's a deal or no deal?

Purchase Price:  190,000 (cash to close = 20% = 38000)

Monthly Rent:  1200 (minimum)

Monthly Expenses:  

Tax = (150)

Insurance =  (40)

Property mgt = (108)

Mortgage = (630)

vacancy @10% = (120)

repairs @ 5% = (60)

Total expenses = (1108)

Cashflow = $92 :(

Cap Rate (If I calculated correctly is at 2.9%)

@Al WilliamsonMy wife is a nurse as well :)

Thank you for all the warm welcomes.

People who contacted me for opportunities, please don't think I am ignoring you.  I am getting myself educated first and in the mean time trying to come up with some funds.  A lot to learn.