All Forum Posts by: Reginald Dave

Exactly. Sounds like a good deal. 

My main concern is the $5K for repairs. That amount would barely cover paint and carpet (unless you have free labor or maybe cheap materials).  But even at $10K repairs, still seems like a good deal for the posted rent. 

Reginald, 

Thanks for sharing this with the BP community. I've been more involved in multi-family over the years but I have colleagues who have been involved in single family. They're numbers never have looked this good. It sounds like you have a good understanding of the market. My advice is "jump in" and learn later. Just understand, typically, the numbers are never as good as you think. It looks as though even if your numbers fall off a bit you will still be cash flowing. 

Best of luck Reginald. Keep posting deals.

@Reginald Dave

Welcome to the Site! 

What kind of area is it in? If you have the best cash cow of the century it's not going to matter if it's not in an area that people want to live. SFR's need to be occupied 100% of the time to produce cashflow. I can't say deal or no deal for you but i would say if the area is right then it looks pretty good.

Thanks for asking!

 Rents in this area are going on the high end are $1450.  And about $1272. on the low end. Total monthly expense looks to be around $700.00 I'm looking at doing a convent. loan with maybe 20 to 25% down. Thanks for your response.

@Reginald Dave

It's hard for me to give you any recommendation because you didn't provide any raw data on the operating income/expenses, as well as the financing you will be using.

Do the returns you posted look attractive? Yes they do! But how accurate they are is the real question...

Without knowing much about the property and the market, I would estimate that you need monthly rent of $1,500+ to achieve these returns. What is the actual going rent for this type of home in the area?