All Forum Posts by: Scott Karg

I have a property under contract, I am going to rehab and rent it.
I'm just starting out, so I am doing one at a time, rehab, get it rented, then look for my next deal.

However, in the neighborhood I am concentrating on, I am finding some good deals. I could use some more sources of income, and thought maybe I could try my hand at bird dogging?

Any help from anyone in the area would be most appreciated.

What are the taxes, insurance, maintenance numbers?

Just for the heck of it I plugged in 1000 taxes, 450 insurance, 600 maintenance, 30 year mortgage at 7% and came up with $163.05 cash flow a month.
I use a spreadsheet, and depending on what numbers are different, and if you have other expenses, YMMV.

Thanks Rich! Not a bad adjective to have before your name though!

For a socialist agenda, this is perfect ;)

Here you go Mr Weese,

http://www.glennbeck.com/content/articles/article/198/39870/

Thanks Joshua.

I actually reconnected with an old friend and he is mentoring me. He's been in the biz for 8 years and is very successful.

He gave me a spreadsheet to use which is similar to the one posted here on BP.

This is a fantastic site and forum, thanks for hosting it.

Thanks Jon! I'm very excited.

Thoughts on this deal, buy and hold
4bdr, rent will be $1400-1500 monthly
REO property, sold in 2006 for approx $130K

Purchase price $46,500
Rehab $8-10K
Taxes $2554(will appeal assessment)
insurance $450 yr

I am closing on Friday, I would have posted this deal previously, but didn't know about BP when I first found this property.

Thanks guys. This is actually a friend of the group I'm part of. I think all will be fine.

I just bought a property with hard money, terms are 6 month maturity with a 3 month extension if needed.
I'm just wondering what happens IF I don't find someone to refi the property.
The numbers work great on this property, even with hard money.

Hi there,
my name is Scott and I've owned a few rentals over the years. This year, I reconnected with a long lost friend and he has gotten me on the right path.
I close on a new rental in Belair-Edison on Friday, and I can't wait.

My plan is to have 4 new properties by years end.

This is a great forum, thanks!