All Forum Posts by: Sameer M.

 Thank you Mike. That is helpful.

Hello Folks,

I am in the process of closing my SFR in a suburb of Cleveland OH and looking to buy my second in INDY. I have a goal to buy 2 SFRs this year in Mid West region.

Sticking to my principals of buying SFRs in safe, commutable and with decent schools suburbs of cities, I have identified the following areas that meet my criteria

Greenwood, Brownsburg & Franklin Twn

Is this safe to assume a 8.33% of vacancy rate for a 3/2 SFH built post 1978. I know it is a generic question but what I am trying to get at is whether it is realistic to expect a month of vacancy if I have priced my rental aggressively. E.g. $950 for a 3/2 in Greenwood.

Somehow I sense a lot of investment activity (to rent out) in some of the areas that makes me wonder if 8.33% is too optimistic.

Appreciate any feedback by local experts.

Thanks

Sorry missed these

Taxes: 1930

Maintainace: 6% of expcted rent

Vacancy: 7%

30 yr at 4.125 with 25 down

Hello friends

So I am all set to close on my first rental. This one is a 1935 built 2 story 3/2.5 recently updated (roof, paint, windows, electrical etc). The area is Wickliffe. A safe suburb with good (6, 7) schools. A mix of blue and white collar family neighbourhood.

Price: 78200 (Zestimate is 110K. County valuation 86K last year. Appraisal yet to come).

Rehab: 2700

Expected Rent: 1000 (Rentometer and conservative that the PMs estimate)

PM: 10% + half months rent

Expected CapEx in next 10 years: HVAC. Partial plumbing update. Electrical in the basement. Water heater.

Any feedback on this deal is welcome. Although I am into closing good feedback is always encouraging :) and bad feedback will keep me be real.

Thanks

Thanks @Ryan A.

Steve, A lot of North Jersey areas have high taxes that might eat into your profits. Also look out for any potential tax increases as a result of local issues (e.g. a local company moving out of town, budget deficits etc.)

@James Wise

Thank you for the feedback. I am hoping to build a strong and steady portfolio of long term buy and hold rentals across different cities. (3 is my target for the year).

Plan to focus on suburban, family oriented neighborhoods with decent schools.

OK if I do not squeeze profits on the rents by going to rougher areas.

Any suggestions welcome.

Friends,

I am about to close on my first OOS investment property in Cleveland OH. This is a 3B 2.5B 2 story house in Wickliffe (a suburb 12 miles east of Cleveland). Has good schools and a safe neighborhood.

Little nervous so wanted a ballpark estimate / advice from local experts as to what are typical rental comps. in this area and how much vacancy rate shall I assume.

My personal estimates are 1000 pm and 1 month vacancy. Is this reasonable or too optimistic / conservative?

Thanks in advance.