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All Forum Posts by: Samuel Wilson

Samuel Wilson has started 3 posts and replied 6 times.

Post: How much to account for Vacancy, Repairs and CapEx?

Samuel WilsonPosted
  • New to Real Estate
  • San Diego, CA
  • Posts 10
  • Votes 3

I always highball my numbers. For example, if it is a sfhI will throw a 100 at capex and 100 at repairs per month even though on the rent it might only be 900 a month, and if it can cash flow even with really high numbers then it might be worth trying to find more accurate numbers. But for each area repairs and capex are a different amount, for example, I live in great lakes so there is a lot of snow and moisture. So I would have to take those into account on top of a new roof or a broken toilet here and there.

For vacancy, you can usually look up the vacancy rate for your area or talk to other local investors to find the vacancy rate I know for my area after talking to multiple investors its about 6-9% but that is only because the rents are really high for the area due to property taxes. The best advice I can give is talk to the locals, even just homeowners they don't have to be investors. good luck and fair winds!

Cash out refinance is great because it is like a snowball for your property!

Post: My First BRRRR! With Pictures!

Samuel WilsonPosted
  • New to Real Estate
  • San Diego, CA
  • Posts 10
  • Votes 3

wow, this is awesome it has given me a lot of inspiration! keep up the good work!

Post: property values and where to find it

Samuel WilsonPosted
  • New to Real Estate
  • San Diego, CA
  • Posts 10
  • Votes 3

Hey, 

what is a good resource to look at property values in a surrounding area of a property? I'm trying to see the value of what a similar home in the area goes for.

Post: patios and outdoor furnishing

Samuel WilsonPosted
  • New to Real Estate
  • San Diego, CA
  • Posts 10
  • Votes 3

So I have been looking at a SFH in the Waukegan IL area, It does not have any type of outdoor furnishings whatsoever and if I were to buy the house how would adding a patio or a fire pit effect value of the house? Would it be a worthwhile investment? have you or anyone you known installed a patio, and if so how did it affect the value of the home? If the unit was a multiplex instead how would it affect the value?

Post: Condos VS Single Family Homes

Samuel WilsonPosted
  • New to Real Estate
  • San Diego, CA
  • Posts 10
  • Votes 3

Hi,

I plan to buy my First estate within the next year, I know that Condos are cheaper to buy usually than single family homes (and sometimes easier to upkeep). Family homes, on the other hand, seem to cost more but you have more control over the property value. I want to see what other people think is the smarter investment, and the better way to jump into real estate.