All Forum Posts by: Account Closed

Welcome @Dan Cone

I do like the calculators, although I've not used all of them. Forums are a great resource of knowledge. 

@Elliot Saks How are you getting a 4.5% interest rate? Are you paying for that lower rate?

Are you sure about your expenses? Unless you have a good reserve fund, I would bump up the cap ex and repairs expenses.

If the purchase price is the same as the list price, you might want to lower it and play with the numbers more.

@DeShaun Sellers would you be able to send me more details, please?

@Caroline C. would you be able to provide me with more details, please?

@Tyler Jahnke thank you for your input. I initially calculated taxes based on a flat 2% (saw it somewhere on the Marion County Tax Assessor website). However, your suggestion made me dig further into the site and found the 2016-2017 tax rate (couldn't find anything more recent) of 2.2527%.

After my initial post, I was able to find pictures.

I'm a bit concerned about the rent as well. It has been on the market for 33 days and was just recently dropped from $1200.

I've updated the report.

https://bp-v-newproduction.s3.amazonaws.com/upload...

I'll be talking to the property manager tomorrow. Currently looking for an inspector.

@Jonathan James Look not sure why I did 5%. Last week I did speak to a lender who told me a rate of 5.625. I updated my report with that rate. Probably should do 6 as a safety net. Thank you for the suggestion.

There are still numbers I'm really unsure of (accuracy of property taxes and insurance). This is also assuming listing price, which would not be my offer.

Thanks @Travis Henderson . I did some more research and found out the following:

Open floor plan with lots of updates! Beautiful hardwood floors throughout. Freshly painted with neutral paint and white trim. Updated bathrooms. Eat-in kitchen includes new counter tops and stainless steel appliances.

I've asked about the HVAC and roof. 

View report

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

Hello all. Many of the numbers are from the pro forma. I understand I'm not to fully trust those numbers and my calculations don't quite match anyway. This would be out-of-state for me, so I'm nervous about the possibility of investing where I cannot see the property and don't yet have contacts in the area.

Should I be putting more money into the expenses? Appreciate any advice.

Thank you @Steve Garner for mentioning Mary's meet-up. I found her meet up and will surely attend. Hope to see you there as well.

By the way, really enjoyed listening to your guest appearance on the BP podcast.

Anyone up for having an informal meet up for those in or around Wilmington, NC? I've joined the local REIA, yet I'm also curious if anyone here wanted to start something.

I'm looking to build my network, as I'm sure others are as well. While this site has lots of great resources, I need to get out of my comfort zone and meet people face-to-face.

If anyone else if up for this, let's chat.