All Forum Posts by: Siva A.

Investment Info:

Townhouse buy & hold investment in Duluth.

Purchase price: $160,000
Cash invested: $45,000

First investment, buy and hold.

How did you find this deal and how did you negotiate it?

Sale by owner, found by a yard sign.

Investment Info:

Townhouse buy & hold investment in Duluth.

Purchase price: $160,000
Cash invested: $45,000

Town Home in a northern suburbs of Atlanta, GA.

How did you find this deal and how did you negotiate it?

Sale by owner, found by a yard sign.

How did you finance this deal?

Convential Loan, 25% down and refinanced recently.

Thanks for the response.

@Jenifer Kynor, I haven't had a tenant with pets sos far in the units. So I'm not sure, what to do. But looks like there are few concerns about having cat. As lot of other mentioned, a big chunk of tenants are having at least one pet.

@Ross Denman - Thanks for the details. I'm afraid of the damages and other headaches to go through.

@Chris T. - Thanks, our market has some demand, so thinking being little bit more strict on Pet policy.

Overall I'm good with pets, but not sure about some off limit requirements like this.

Good morning Everybody,

I have a tenant interested on one of my property, One Adult with 3 cats. I have a rule that Max allowed pets are 2. How do you go about this. Also, I have a Pet fee (Non refundable fee per pet). Is it a good idea to leave it there or charge more as Pet rental too? I never had a Tenant with pet until this. Any suggestions or guidance would be appreciated.

- Thanks,

Siva 

Speaking of HOA, Do you guys prefer Town homes with higher HOAs or SFR with lower HOA?

In my area not a lot of multiple units available. So we have very few choices around.

@Matthew T. Thanks. My Goal on this property is, if the appreciation is good in few years exit from the property.

@Jackson Carr, I have factored in few costs, But Roof is taken care by the HOA.

@Jay Dewberry, Thanks. Yes that was my fear too. If I take out Repairs and Capital Expenditures it's not a lot.

Hi Guys,

We did our first deal before I come and read much about REI in BP. I used different calculators, But in a long run is it a good deal or not I'm not sure. The property located in northern suburbs if Atlanta. Here are some info,

Purchase price: $160K

DownPayment: $40K (25% Down)

Closing cost:$5K

Repair Cost: $0

Expenses:

Mortgage payments: $860/Month (Includes P&I, Escrow for insurance & Tax)

HOA: $230/Month

Income:

Rent:$1450/Month

Market was good so no Vacancy this time. But could be in the future.

It Leaves about $360/Month cash flow. My loan was traditional loan with a Mortgage company with 25% down. We wanted to be conservative found the in MLS with a help of an Agent. We bought a turnkey property with almost on the Market rate.

Please provide your thoughts about this deal.

I'll be attending.