All Forum Posts by: Sandy Sandy

Hi! I found a good deal and it needs rehab. I’m looking for lenders/banks who can do rehab and cash out refinance. How can I find one? 

Taxes-4034(includes garbage)/yr

Current propert management: 8%
total rent per month: 2520

Asking price:135k

Down payment:25%
interest rate: 7.5%

Insurance: 1700/per

Owner pays for water

I’m totally new here, can I know what kind of repair costs that I can expect? Would u be able to give me some examples if you don’t mind? 

1.Total taxes are 4600$

2. Rental market is good, not good location. This is next to a recreation center.

3.debt to rent payment is good.need to check about rent loss. Any suggestions on how to check about the vacancies? Can I get an idea by looking at the rent roll? 

I mentioned studio, they are actually 1 bed 1 bath

Thanks for your response. They all have separate meters of gas and electricity.

Owner pays water. Lawn and snow removal I believe property management takes care of. I need to check about it.

Hi! I’m a newbe here. Need some views on this deal I’m interested in. This is my first one which I’m planning to put an offer on.

Asking price:135k

Gross annual income: 29500

Taxes:4500

Units: 4 (fully rented-all studios 2 units with long term lease and 2 month to month. Separate utilities)

Property management:10%

Roof: 2012

House needs minor repairs and Neighborhood is no so good.

Asking price seems over asking when compared to the similar properties in the areas.

Questions: 1. Looking at the numbers , what do u think? 2. what are the risks involved in buying in no so good neighborhood?

Any views on this would really be helpful. Thanks in advance!