All Forum Posts by: S Moulton

@Noah Chappell - 150k, 20% down for the loan

@Nathan Zierer Thanks! I definitely appreciate the input, not a downer at all!

This is on a septic, heating is electric baseboards and pellet stove. No AC. Property built in 1996. How much would you budget for CapEx?

The current owners claim the unit is easy to fill, typically when tenants change it is only vacant for 1 week to clean and repair.

I thought closing cost seemed low, this number came directly from the lender but I think I will bump it to $5k. Better to over budget. Similar in the repair, good catch!

Hi folks, 

Would anyone be willing to give me a sanity check on my numbers for a buy and hold rental?  

View report

*This link comes directly from our calculators, based on information input by the member who posted.

my general analysis is the following:

Description: a nice, simple Duplex that doesn't need much work - if any.

How are the numbers:

• How much down: 20%
• Interest 3.0%
• Income: each unit rents for $1k/month.  Total of $2k.  Currently, both sides are leased.  
• Expenses: 
• Owner paid water ($35/month), garbage ($50/month), and lawn/snow removal ($50/month). 
• Budgeting 5% for repairs/maintenance
• 5% CapEx - new metal roof in 2016, no HVAC system, basic/cheap appliances in decent shape, septic.
• 5% Vacancy - one unit's lease is up June 1, already have a signed 1yr lease for the new tenant.
• 10% Management fees - seems about standard.  
• Taxes, High, low, etc: Taxes in NY are a little different, and generally much higher than the Midwest (home).  The property is currently valued at $94k with almost $4k in taxes per year.  
• Appreciation: ? 
• Appreciate any thoughts, or letting me know anything I missed.  
• Thanks! 
• Edit... sorry about the formatting bullets - I cant get them to leave :( 

@Jason Shackleton - lol, thanks! I'm looking reasonable cash flow with at least some appreciation. Funding will be mostly case by case by focused on a mortgage loan when obtainable, and cash for properties that need a little love.

I'm looking for some advise with investing in OH. We are looking for some MF units, around $150k or below with a mix of cash flow and appreciation. Any suggestions on what markets to look at would be appreciated! We are close to cinci so pushing into North KY would be ok too, but I know less about those markets. Thanks!