All Forum Posts by: Sam Wydner

Thanks for the response Adam, I kinda figured it would be tough based off of what I can find. I’m going to venture out to surrounding markets and see if I have any luck getting at least close.

Good morning, Any investors in the DFW area having any luck following the 1% rule? I’ve been looking at the Fort Worth area and have found that trying to follow the 1% rule is becoming more and more difficult. I am about to expand my search throughout the DFW metroplex and wanted to see if anyone locally has been able to without any major rehabbing. I’m not necessarily looking for turn-key, I am trying to keep any repairs or rehabbing as minimal as possible. Hope you all have a great day!

Thank you all so much for the responses! I am going to do some additional number crunching with your suggestions. Fortunately, if I’m negative or positive, I can cover additional expenses. This was a move I needed to make to get myself in the process of real estate investing and learn from my mistakes. With that being said, thank you all for your awesome input!

Thank you for the reply Derek. Yes the 1.9 is for property taxes. The other points you touched on were exactly what I was questioning myself as well. What is the best way to calculate possible capEx/maintenance costs or vacancy allowance? With it being my first property I have not experienced any situations to come up with an average $ amount. I do keep a separate account that can/will fund any possible repairs or vacancies. I know there is information on this site that can help or answer my questions. I just need to familiarize myself to the website and search areas. Again, thank you for taking the time to give me feedback.

Hello all,

Hope everyone is having a great new year!

Ive closed on my first deal and would love to get some feedback or even constructive criticism on my own analysis.

Thanks in advance!

Gross Monthly Operating Income	1,300.00
Monthly Operating Expenses
Property Management Fees	104.00
Repairs and Maintenance	-
Real Estate Taxes	1.90
Rental Property Insurance	112.50
Homeowners/Property Association Fees	35.00
Replacement Reserve	-
Utilities	-
Pest Control	-
Accounting and Legal	-
Monthly Operating Expenses	253.40
Net Operating Income (NOI)
Total Annual Operating Income	15,600.00
Total Annual Operating Expense	3,040.80
Annual Net Operating Income	12,559.20
Capitalization Rate and Valuation
Desired Capitalization Rate
Property Valuation (Offer Price)	148,000.00
Actual Purchase Price	145,000.00
Actual Capitalization Rate	8.66%
Loan Information
Down Payment	29,000.00
Loan Amount	116,000.00
Acquisition Costs and Loan Fees	2,264.00
Length of Mortgage (years)	30
Annual Interest Rate	5.125%
Initial Investment	31,264.00
Monthly Mortgage Payment (PI)	631.60
Annual Interest	5,906.06
Annual Principal	1,673.20
Total Annual Debt Service	7,579.26
Cash Flow and ROI
Total Monthly Cash Flow (before taxes)	415.00
Total Annual Cash Flow (before taxes)	4,979.94
Cash on Cash Return (ROI)	15.93%

Hi Grant,

I could also give you some information on a great " all in one " management company that handles everything under one roof.

They are competitive to the management market, and charge much less than your typical management commission rate.

Feel free to send me a PM for information.

Good luck.

Good morning all, I am currently looking for investors with commercial multi family experience that are willing to partner up on an apartment deal with someone that has the capital to start, but needs the hands on experience. I would like to get my foot in the door on the commercial side of real estate to build a relationship with investors in the industry and gain experience within the industry. I am excited and open to discuss any opportunity with all of you. Thank you, Sam.

I spoke with my wife. Unfortunately all the properties in that area are franchised and not corporate properties like hers so the management is a little different. We could probably do the Gaylord, but that might be a little excessive for a get together. and it's not easy do get parking unless your staying at the hotel. Maybe plan B at a restaurant or something. 

@Sherry Patterson

I just stumbled on this post. My wife is a General manager for Marriott hotels and has good contacts with other properties in our area. I can have her check and see if we can use a conference room at one of the properties in the Grapevine area. IF there is a cost, it will be small and I could take care of that. Let me know what you think. And I'll mention it to her today. 

Hello From Fort Worth Tx! I'm excited to start my journey here with you all on BP! I am a young(er) investor that is ready to make a move into a new avenue of investing, and what better than real estate! I live in one of the fastest growing areas in north Texas. The booming Alliance area! With so much amazing information on this site, I have no doubt to learn quite a bit. But my real reason for this post is to connect and grow a relationship with those of you in the local area. I would love to hear from you! Thank you, And I wish everyone the absolute best!