All Forum Posts by: Jim L.

Check with building and zoning if they have a felony or something like that they may be able to remove them since they have a crime free housing program.

I stop by the residence and notice the locks had been changed, which is a violation of the lease.

Tenant lost job, suffered a loss of friend so I agreed to terminate lease early. Now she won't respond to my efforts to contact her. A moving van was there over the weekend and NO activity for two days. Today was the agreed upon termination date. Should I cut off locks off because she has not responded?

Fist of all thank you for your time and input. as for the like new statement, I try to make them like new after rehab with all new electrical, plumbing, kitchens, baths, windows, flooring, siding, and roofs. With that said I can assume the max useful life out of all components. I had found a capex table on BP by Ben Laybovich a while back that showed the break down to a monthly amount of $257 and it seems to be real close to the cost I've seen. If the capex items are no new the monthly accrual would be even higher the way I understand it. Does anyone have a price range for their rehab of lets say a 3/1 sfr with about 1000 to 1300 sqft.?

And yes definitely need to find and learn how to make better deals to hire the rehab out. But it has gotten me started so not a total loss.

Thanks again,

Jim 

I just watched the webinar last night and I've been struggling figure out real numbers for cap ex and rehab cost. So so far I have done five Brrrr's and the rehab cost have not been between 18k and 25k do most the work my self. If I had to hire electricians and plummber's it would be alot more.The homes are like new for the most part. So I wanted to see if this is how much others put in to a rehab. As for capex I think about $250/mo. Is what I should be using. If anyone has any insight or advise it would be greatly appreciated.

Thanks,

JIm

Wanted to know if anyone has an airbnb in Boston, Ma. Available for a few nights? 4/30 thru 5/2

A few months ago I attended a seminar/sales pitch by a RE course inventor with the idea of offering a pay day option in the lease. This allows the tenant the option to pay half the rent every two weeks. So you divide the rent in two and they make 26 payments. And the landlord ends up with an extra month of rent. 

So I just listed a sfr for rent in St. louis metro. I'm all in for $70k with an ARV of $105k to $110k.

Rent will be $1100 and taxes right now are $2100 but thru research I found a rental about a block away and the taxes are $3500 with no exemptions. So even if I add $100 dollars in rent the cash flow would be about $245.

So if I refi  for only $50k @ 4.5 for 30yrs P & I would equal $253.34

cash flow would be -$8.34

Hello everyone, I'm just trying to fully understand cash flow. Any help will be greatly appreciated. 

Let say I bought and rehabbed a sfr and paid cash for all.

cash flow scenario: rent =      $1000.00, 

expenses:       taxes =        $ 250/mo. or $3000/yr.

              insurance=        $75.00/mo.

maintenance @ 10%=     $100/mo.

         vacancy @ 8%=     $80.00/mo.

prop. mgmt. @ 10%=      $100/mo.

CapEx. according to a 

post by Ben Leybovich = $250/mo.

              total expenses = $855/mo. 

                     cash flow =  $145/mo.

So my first question is would you agree that all the above criteria is the proper way to figure cash flow? The second would be how does anyone cash flow if the property is leveraged at all? 

I will definitely contact a pro.

Thank you for taking the time to respond to the post.