All Forum Posts by: Account Closed

I will certainly thank him for his service @David Bermanski and I agree, appreciation may or may not happen - my analysis definitely does not speculate on it though. I've heard a few local investors say that it is considered the next "it" place; only time will tell. I have decided that for what I'm looking for, neither deal here makes the cut. Thanks for solidifying that, as well as the rest of the people on this thread! I was excited but the numbers simply don't pan out.

Following the sage advice here on BP, I made sure NOT to form any emotional attachments to the properties @John Blythe, so it made it easier to move on! I really appreciate everyone helping me see that settling just so I can say I "have" a property is a terrible idea and certainly is a bad move if I want to consider myself an investor! 

I'm glad to hear you were able to get the property to cash flow. On the bright side, you learned a great lesson for all your deals going forward!

Thanks George! I've definitely decided to keep looking. 

 Thank you for clarifying! I'll be sure to reach out once I get a property under contract. 

 Thanks for your detailed response! I'll certainly reach out to the PM companies as well as really get more specific with my numbers. 

 Well we haven't quite decided yet. Ideally 10-15 minutes from the Mayport Naval Base. 20 minutes would be acceptable too. Do you happen to have any suggestions? 

I'm following this as well. My husband is currently Active Duty Navy stationed in Jacksonville, FL. We've lived here for a few years and are contemplating buying a MF here. Any great contacts for Jacksonville?

 I have not settled on a PM company yet; however, after consulting with a few current investors in the area and a few RE Agents, I was advised to use 8%. Would you recommend a different figure? The prices listed are reasonable prices I can negotiate, per the RE Agent I am working with. There is even wiggle room to negotiate further, though I preferred to keep it conservative. 

While we do have some money we could put down, we really just wanted to take advantage of the 0% VA Loan and use the rest for a down payment on an investor property a few months from our first purchase. I'd rather find a better deal than to make force these. The properties are both in Cincinnati, OH. Repairs would be minimal to none with at least 5 or so years without any major CapEx.

For future reference, is $100 per door the goal to shoot for generally? If not, what approximate amount per door cash flow do you personally use as a guide?

Thank you for adding to the conversation! 

Oh, well I'm covered then. I bumped up the whole category to about 12%, so approx. 4% maintenance and 8% CapEx. Thanks for sharing yours too!

Hi @Ben Gammon. I'll definitely try harder then! Yes, I rolled them in together since the spreadsheet I was using broke the expenses out that way. Would you recommend them being separate? If so, what percentage would you say for each? Thank you!