All Forum Posts by: Stephen Waldroup

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I have a question on the BRRR strategy on this property. If the ARV is 120k and I can get a loan for 80% I'll get a check for 96k correct?

David K. Thank you for explaining all that. 

1) The utilities would be the tenants responsibility. 

2) I did forget about lawn care. I would hire that out.     

3) The closing cost I found an estimate online. I also tried it will 3k for closing cost which was right above 3%. I also threw in some repair cost trying to be safe. 

I feel like sometimes I run my numbers really conservative, but I could be wrong. 

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

I was seeing if anyone could look over my analysis, and give their thoughts on if I am calculating everything  correctly. 

Thanks,

 Stephen

Thank you Jody the information gave me more insight on what to look at and think about. Tim also thank you for the information. I have been looking at rental rates in this area, and still trying to learn what a normal rate will be for certain houses. I am going to talk with some people in town that know more about rentals also. I have been looking at property taxes online to figure those numbers out too. Yes that is one thing I don't want to do is buy something that will bring negative cash flow, or just make a really bad investment for my first property. 

I have been looking at homes to buy for my first rental property, and have been using the quick four square method for analyzing rental property. I came upon a property that seems to be a decent deal and seems to cash flow when I put it in the analyzer, but I would like to get some feedback/suggestions. I would be putting 20% and in the area rent would be between 900-1000 a month. This is the link to the property https://www.trulia.com/property/5031269464-11-Dustin-Ter-Nash-TX-75569

Thanks

Stephen