All Forum Posts by: Ryan Moore

Yeah.... I thought I was calculating that correctly:

(rental income x 12 months)/(Down Payment + Closing Cost + Misc Cost)

One gave me 10.4% and one gave me 10.2%.  What am I missing here? 

Thanks, yeah I estimate a COC of 0.2%

Hi, I'm under contract for my first property, a 4-plex.  I received loan estimates from 3 different companies (30 yr conventional).  Two of them are in contention.  1 has a lower rate by 0.25% and the other has closing cost lower by about $1400.  The difference in P&I every month is $20.  It would take just under six years for the lower interest rate loan to catch up to the other one. The return on both of them after one year is almost even.  I have the ability to purchase another property later this year so I don't want to deplete my cash.  Also I can't guarantee I will be holding this property for that long.  I'm assuming I should go with the higher interest rate, lower closing cost loan.  Sound like a plan?

thanks guys.  While I haven't looked at any reports yet, I can tell you I did speak with two insurance companies for quotes and there were no mention of any claims or any concerns on their part for crime

I'm looking at a SF residence.  I looked at the crime stats for the area and there was a burglary at that house middle of December.  The house has been on the market for a week.  I don't know if the house was occupied at the time of the burglary, or if it was already vacant (which it is now).

1) Should I take any more steps to look into more detail what the burglary claim was?

2) Would you just walk away from a property that had this last month?  I don't think the surrounding area is anything horrible as far as crime.

Currently evaluating SF properties to buy/hold.  What is the most efficient way to obtain accurate insurance quotes to assess cash flow.  Currently I've been reaching out to agents individually with an address that is of interest to me.  Is there a more efficient way?  Thanks!

Before making an upcoming purchase, I wanted to research some property management companies here in Phoenix.  What are the good questions to ask these companies? I already assume to ask about referrals, and cost, but I want to make sure I'm finding all cost that are associated with the managing.  I've read about those hidden fees.  Also, I want to make sure I have a clear understanding of what they do and do not do.

Hi, starting to look over MF units and I was curious about the water expense.  I see most MF's listed have water built in as an expense.  Why is that?  Also, what options do I have as a prospective buyer to not have to take on that monthly expense? 

Hello Bigger Pockets!

Casual lurker here ready to start some serious research and networking. By day I’m a full-time Pharmacist, by night and weekends I’m a husband and father of 1, soon to be 2 boys. I’ve spent the past couple of years learning about personal finance, and through a different podcast, I learned about BP.

No current RE experience. I have long term goals of buying and holding single family (maybe multifamily) homes to develop increasing cash flow and capital appreciation.

My current short term goals are to find a good real estate agent in the area with REI experience, and to decide if property management is the most appropriate for me to start out with.

Cheers!

- Ryan