All Forum Posts by: Sean Parno

Hello BP Fam,

Has anyone ever purchased a property through an auction and then made it into a rental property?

Just started floating around with the idea but would like to get some feedback if there is someone out there who’s had experience before!

Thanks as always,

Sean

@Rich O'Neill I greatly appreciate the feedback! I will review all of this again and probably again lol. But yeah I will take all of that and see where it leads!

Thanks!

@Timothy Wong Cheers my friend! 

@Eric Greenberg I will connect with you and message you 

@Katie Phillips I appreciate the feedback, it is all helpful! I will looking into things more! I am still a newbie so I am just trying to sharpen my skills and knowledge ahead of my first purchase!

Hello all

Last night I was in a Webinar with @David Greene and we went over the Rental Calculator to analyze good properties. I understand how to use the calculator but every house I had saved on Zillow that I plugged in (price ranging 180K-230k) wasn't giving a good cash flow and COC ROI.

What is the average for Cash flow and COC ROI % you guys look for? I live in Philadelphia so I know this market fluctuates between "sections of the city but I am just trying to sharpen my Analyzing skills.

Any feedback is helpful!

Sean 

Joe, yes I am starting to grasp this might not be the best approach!

Andrew, 

Thanks fro your feedback. The problem with that is, my wife doesn't want to move from our current house, she is in love with it! So that's why I was approaching it from the other angle. 

Anna!

This has been more than helpful! I appreciate your feedback and will take all measures into consideration! 

Thanks!

Yes she does! And yes I know that, which is fine. I just was curious to know if and/or I could be taken off the mortgage for our primary to go onto another property by myself.