All Forum Posts by: Shan K.

Keep in mind the capex risk on low rent properties.  Number look good on paper but every a tenant leaves , trashes the place , did not pay last months rent you are going to incur capex. High rent small size homes are better than low rent big homes. Buying    high cap low price homes run are high capex risk. Take deferred capex seriously do not get fooled by impressive first year returns

Most of the pro forma's I see leave out the capex. This inflates the COC and Cap on the properties. As rule of thumb if I am buying new property I reserve at least 10% for CAPEX . If its older remodeled property I save 10-20% for capex for tenant turnover , flooring,roof, bath rooms and kitchen remodel.

Hi Dave,

Welcome to BP. I am also REI with SW Engineering and business background. I am looking to partner up like minded investor like yourself and invest in large multifamily units. I have couple of excellent goole sheets spreadsheets and curious to see what you have developed. I am also looking to develop an amazing deal analyzer tool/mobile app which automatically import data from MLS,Zillow, rentometer , greatshools and many other source.

Cheers

Shan        

I just pulled out of deal because I underestimated property insurance on a TX SFR. When my agent told me the expected rate, my estimates got into negative cash flow.

Is there a website which gives accurate insurance quote on property?

Thank you guys . How is the rent to Arv in these NC areas. Is there different tax rate for investment properties? How's the rent to ARV ratio? What are growth prohections? There too many new construction. Is it a good idea to buy these new homes as rental properties ?

I have added Garner and arounding areas to my investment list.

Next I would be looking to build a team of agents and property managers. 

Cheers

Shan

Anh Truong Sorry to hear about the robbery at your rehab. I use a alarm system that sends me text message and calls my phone when activated . I can remotely turn it on and off using app on my phone . For monitoring it costs me 5 cents per call or per message . I can program it to call police/911 if I don't pick up . You can you order it from China on Alibaba.com . Contact me if you like me to find listing .

Building is pretty new . Build in 2004. 20000 is just a guess work based on the pictures from the several years old listing of the same unit.  There is no access to the property from inside. Unit is 2br 2 bth ~1000 sq ft. Its a A location unit so hoping its kept in alright shape. Number don't look very attaractive but its close to home. 

Buying at dream location, dream property near beach in San Diego. First column is conservative, second column is the best case scenario. This is cash deal , will refinance after closing. What do you guys think about this flip? 

ARV	$465,000	$475,000
Offer Price	$360,000	$350,000
Commission 4.5%	$16,200	$15,750
Technology	$299	$299
Rehab	$20,000	$15,000
Eviction	$5,000	$3,000
Closing	$3,000	$3,000
Inspection	$500	$500
Holding Cost	$4,000	$4,000
Sales cost 10%	$46,500	$47,500
Profit	$9,501	$35,951
Cash Invested	$408,999	$391,549
Return on Invested cash	2.32%	9.18%

I am looking for investor friendly real estate agent in the Dallas area. I am out of area so need someone who is tech savvy can shoe properties through Skype , google hangout. I am also looking for who can manage the property for me . Essentially I want to build solid team in the area .

This thread is turning out to be excellent source for the list of things you want check during DIY title search. I work with real estate agent who has connections at the title company. I get the title reports for free. However someone doing the work for free will not the thorough. It's good to do your own due diligence. Information here would certainly help. I have created summary notes of things to check for myself. PM if you like to get the copy, will share the google doc. I am looking building web a page which will automatically pull this information from the online public record .