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All Forum Posts by: Sheltocks M.

Sheltocks M. has started 11 posts and replied 67 times.

Post: My numbers don't match BP numbers

Sheltocks M.Posted
  • Real Estate Investor
  • Central New Jersey
  • Posts 67
  • Votes 29

Hi there:

cash on cash= cash flow/investment basis. I show 13.77% and the BP clculator shows cash on cash ROI 7.73%.

What am I doing wrong? I truly apprecaite your help.

Post: My numbers don't match BP numbers

Sheltocks M.Posted
  • Real Estate Investor
  • Central New Jersey
  • Posts 67
  • Votes 29

Hi Mark:

Thanks for responding so quickly. I'm good with borrowing from my 401K. I already spoke to my benefits department at work and my  accountant and I'm good in that space. My problem is trying to decide if I shoiuld get the property based on the numbers.

Post: My numbers don't match BP numbers

Sheltocks M.Posted
  • Real Estate Investor
  • Central New Jersey
  • Posts 67
  • Votes 29

Hi BP family:

Getting ready to bid on my first rental property and plugged in #s from my spreasheet into BP and the NOI and Cash on Cash ROI is way off. My cash on cash return is twice what BP shows and at 80k I dont even meet the 2% rule. I feel like I dont know if I should put in an offer or not. Please help me. Here is the info:

City: Hamilton, New Jersey

House: 3 bedroom 1 bathroom

Size: 1036 sq feet

Price 80K

I plan to put down 25%  (I have the money in my brokerage account but will borrow from my 401K instead (3.75%)

Rents in the area are $1350-1400 per month

Property tax $3,542

Please help. I truly appreciate it.

Sheldene

Confused

Post: New, nervous and need help

Sheltocks M.Posted
  • Real Estate Investor
  • Central New Jersey
  • Posts 67
  • Votes 29

Hi there: I'm not aware of the calculators. It's at 180 ward street New Brunswick 

Post: New, nervous and need help

Sheltocks M.Posted
  • Real Estate Investor
  • Central New Jersey
  • Posts 67
  • Votes 29

great information...much appreciated 

Post: New, nervous and need help

Sheltocks M.Posted
  • Real Estate Investor
  • Central New Jersey
  • Posts 67
  • Votes 29

hi there

Thanks for responding so quickly. I'm looking to buy the property and rent it.

Post: New, nervous and need help

Sheltocks M.Posted
  • Real Estate Investor
  • Central New Jersey
  • Posts 67
  • Votes 29

I'm new to real estate and new to big pockets. My goal is to invest in single family homes. I went house hunting today and saw a house in the town next to mine. It's a 3 bedroom home, fully furnished for $149,000. It's in move in condition.

 I feel it's overpriced. How can I check and where can I look to help me decide what is the right price to pay for this house.