All Forum Posts by: Stefan Christensen

@Steven Marttinen

I changed a couple of things slightly but this is close to what I was calculating… I added a photo of the calculations that were provided when I asked about it.

https://www.biggerpockets.com/analysis/rentals/f267fa32-a526-47b4-ba68-8316a72d2039

I am looking at a four-plex that is vacant but was recently updated, but don’t understand where the sellers numbers came from. I ran my own analysis and it looks like it cash flows negative.

What am I missing?

Here is what he sent me:

Listed at 279k, units would rent for $725-750 each, taxes are $4,600/year, coin laundry income estimated at $1100/year. Tenants pay electric, owner pays sewer, water, and garbage (3,800/year).

Does anyone else think this is close to a deal? I offered 190k since that’s when the numbers started to look appealing, but I wanted to get another set of eyes on it. Am I being greedy?

@Austin Davis any upcoming meet ups? I would love to meet some other local investors and learn!

@Nicholas Wallraff just wanted to see if there are plans for another meet up?

Hi @austindavis

the Derecho slowed my drive, but I am back in the swing of looking at properties and just had my first rejected offer, let me know when the next meet up is. I would love to connect! 

Sincerely,

Stefan

Hi All,

I’m about to make the plunge into single family but and hold rentals for cashflow. It has been about 3 years of me talking about doing this and my wife is to the point that she wants me to do it so i stop bugging her about it! :)

I am looking at 3-5 deals a day, have multiple agents available (spouse is licensed), some potential lenders, and two potential property managers. I have some cash and a heloc I can take out, also some family that has committed cash as well.

I am having trouble finding the right deal mostly because I am not that handy and don’t feel confident with a major rehab.

Any leads on a good wholesaler in Cedar Rapids to help me find my first deal??? I’m tired of analysis paralysis!

@Nicholas Wallraff

When is the meetup? If I didn’t miss it I would love to join!

Stefan Christensen