All Forum Posts by: Saurabh Patel

@Saurabh Patel if you're simply running numbers to verify/ learn there is nothing wrong at all.
what I would do is go to the county website and see if they have taxes listed (I know Tulsa does for example. the county I work for does not but if you call I'll answer and gladly give you the taxes). from there use the taxes per year as the insurance as well. (so $650 in taxes means make the insurance $650 as well) this might be off but is closer than you can imagine.

keep an eye on the upcoming recession as well. one thing I've been doing is adding 2-3% vacancy to the current rates based on my assumption of damage the recession will have. it's so hard to talk via forums. I'd love to chat sometime if you have any questions!

man, if your taxes in Houston are more than vacancy, maint, and cap ex y'all in trouble.
I'd call the county assessor's office and ask what the tax bill is currently and if it will be changing. (if the seller has made changes and it hasnt posted yet) 
yes, absolutely the 35% is rough! it's a rule of thumb. never purchase based on run of thumb. use the rule of thumb then adjust 1 by 1 to fit the actual picture. so use 5% as a rule of thumb, call the assesor and find out the actual. adjust it. 
use 5% insurance, call an insurance agent and get an actual. 
use 5% vacancy, call a local agent and get an actual. 

@Saurabh Patel congratulations on doing the work!

Happy to help look at the deal but as Jonathan says above, the link you shared isn’t working, it is not sending to the report.

Please do not hesitate to reach out, we can also hop on a call if you want. Happy to share any and all resources, tools, analyzers, tips, tricks, if you are interested.

Quote from @Saurabh Patel:

Hi everyone, wanted to reach out as a new investor looking for advice on what markets (cities) anyone investing in here. I am interested in investing in multi-unit properties like 2-8 units. The main questions I have are:

1. How do I find what areas are good for multi-unit property investment? Is there any website to provide some kind of data? Does anyone have recommendations on the list of areas?
2. Are there government-friendly areas where we can leverage some investment benefits?
3. What are the excellent cities/towns in the USA for RE investment?

Look up top 10 cities in Redfin, Zillow, CNBC etc.

Look up landlord friendly states, TN, TX, OH, etc.

Set a goal, do you want appreciation? Do you want CF?

What is your budget? (Adjust your goal if need be)

How will you manage? How active/passive do you want to be?

Understand difference between 2-4 and  5+ MFs

DM me if you want to talk more about getting started, I can give you some ideas.

Goodluck..

Quote from @Saurabh Patel:

Hi everyone, wanted to reach out as a new investor looking for advice on what markets (cities) anyone investing in here. I am interested in investing in multi-unit properties like 2-8 units. The main questions I have are:

1. How do I find what areas are good for multi-unit property investment? Is there any website to provide some kind of data? Does anyone have recommendations on the list of areas?
2. Are there government-friendly areas where we can leverage some investment benefits?
3. What are the excellent cities/towns in the USA for RE investment?

Columbus, Ohio is a great market to invest in. The population has been growing here year over year over the last decade, it is home to The Ohio State University which has over 50,000 students that live here along with those that visit, and it also holds a diverse range of young professionals and traveling nurses to fill the demand of the multiple business corporations and hospitals stationed here. The appreciation rate in Columbus has been 8% higher than the national average over the last year. Tech companies are continuously moving here and establishing a footprint in Columbus as well. Intel is a great example, who is building the largest chip manufacturing plant in the US right here, and it will be a $20 billion dollar investment that brings a few new thousand jobs.

https://www.dispatch.com/story/business/2022/01/21/intel-ohio-building-computer-chip-factories-licking-county-jersey-township/9173472002/

Another example of economic growth is the upcoming Ohio State University Wexner Medical Center Inpatient Hospital which is a 1.9million square foot hospital that will bring over 800 new beds and a thousand new jobs.

https://abc6onyourside.com/news/local/new-osu-hospital-expected-to-transform-health-care

Here are a few more recent investments

https://www.10tv.com/article/money/business/hydrogen-power-company-hyperion-bringing-700-jobs-to-columbus/530-25907aab-5517-4661-a9f3-d2ed2d5be6b0

https://news.wosu.org/news/2022-02-08/rumpke-to-build-50-million-recycling-facility-in-columbus

Check out The Complete Guide to the Columbus, Ohio Real Estate Market which goes through the Columbus, Ohio market in depth and will give you a better scope of where the highest levels of growth are taking place and where to look to invest.