All Forum Posts by: David Rawls

If my calculations are correct: it would take you 27 years, cashflowing 2100 dollars, to make 680k. Which makes that cash flow plan not so great. If you were to sell, you could do a 1031 exchange and not pay taxes on your proceeds - as long as you reinvest that money into other projects. In California that 680k likely wont buy assets that cashflow 2100/mo. In most other states however, that money could buy you a large apartment complex or a couple 20+ units. Even at $100/door with 40 units thats significantly more cash flow than your original 2100~. Lots of things you could do!

If you aren't interested in dealing directly with properties in that last example, 680k could be enough to get into a REIT or for syndication. Explore your options! BP has loads of information.

Let us know what you decide! Happy Investing!

Congrats @Marcus Auerbach! Time for a vacation?

Nice investment opportunity. I would take this deal on myself but I have no experience with being a landlord in Detroit. 

Upcoming repairs:

Roof is approx. 7 yrs old

Old furnace

Needs window screens

Backdoor needs lock

Needs appliances

Refinish some flooring

Features:

Updated bathroom

New windows

Large fenced in backyard

Full unfinished basement

--- For any questions, reach out here or in private.

@James Austin I sent one to your inbox. Happy investing!

My only concern would be the low cash flow. With each unit individually flowing for $80~ that doesn't leave you a lot at the end of the month. Although you estimated high on the percentages for the most part, your insurance will likely be higher. Is 850/mo the median rental price? Is there room in your market for commanding a higher rate after your repairs? Hopefully someone a little more experienced can chime in and shed some light on the subject.

As the title states, I'm looking for a developer in the Canton Michigan area. There are 22 acres of land that will fit an estimated 36 houses. 

Welcome @Kyle Carhart! BiggerPockets is a great source for all things REI. Keep up on those podcasts, articles, blogs and webinars! Stay focused and don't give up. Good luck!

@Donald Cooley Congrats! It really sounds like you have both feet on the ground. Are you flipping these hml deals? Or BRRR? Also, are you investing in New Baltimore and surrounding areas or down in metro Detroit? Keep up the good work!

@Tyler Williams From one Airman to another, welcome to BP! This is the go-to source for all your real estate investing needs. The forums, podcasts and webinars are great. Good luck!

@Jason Schwerin I'm in the middle of mine right now, it's from Kaplan.