All Forum Posts by: Taylor Harrison

Dan- Thanks for the comment. Lender has no issue with the use of the HELOC for down payments. The numbers do work for 100% financing. I Like the use of 10% for cap ex as a very conservative approach, 10% for cap ex is 5K/ year. I think that would be sufficient to include the well and septic into that 10%.

Thanks

Taylor

Thank you Amanda! Yes we would plan to use a HELOC for the down payment 25% down. I have called a local company that services the well and septic to get a good idea as to what to expect hear on a year to year basis and for a replacement of the tank.

Hello BP-  working on a the biggest deal in my short investing career.  Check out the link.  Anything that I am missing.  My intent was to be conservative on all the numbers for a worst case. Intend to 100% finance this deal. What kind of numbers do I need to factor into well and septic or would that factor into cap-ex?  any advise would be appreciated.  

Taylor

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

Hello-  I am interested in this.  Can you send more information.  I am in NC.  Please send to [email protected]

Thanks

Taylor

Hey Phillip-  Welcome!  I am new to Durham and have been wanting to get into the Real Estate game locally and am finding it very competitive and pricing very high.  I have 14 units back in rural Illinois where the market is nothing like here in the Triangle area.  I have analyzed several multi family turn key properties here in the Durham area and most do not meet my criteria for a good investment.  I have started to look at Brrrr strategy, this seams a better route as well a looking in the surrounding communities.  Message me if you want to talk further.  Good Luck! 

Hello BP! 

I am in the process of purchasing a 3 unit building directly next door to a 3 unit building I already own.  They share a drive way.  My question is this: is combining the two properties a realistic option to consider? Would it add value to said properties if they were combined. 

Thanks

Hello BP- it has been little bit.  I started this adventure 14 months ago and have acquired 3 rental properties with 5 units in the Dixon, IL area. Those are all going very well.

Now, I am not looking into Milwaukee to house hack a 4 unit using FHA financing. I am here to reach anyone who is in the Milwaukee area that could be knowledgeable about the area, have house hacking or investing experience in the area, and just could give general advice on this strategy. I have a few places picked out... Do i analyze these properties as fully occupied, as i am not a tenant? I will occupy for the mandatory year. Those in MKE what the area to go to/ areas to stay away from. any tid bits about this strategy or Milwaukee would be great.

Cheers!

@Brent Coombs@Joe Villeneuve@Justin Ericsson

I purchased my first Tri-plex with 25% down and it cash flows well over $100 a door per month.  Rents are $1125 purchase price was $43,875.

Property I am analyzing with close to ZERO money down looks like this:

FSBO Asking Price: $180,000 in a decent location close to small down town of Dixon, IL.

5 units Total rent:  $2330

After running the numbers total cash flow for the year is about $5000. $83/mo/unit.

 Should I accept lower cash flow per unit when putting close to ZERO down?

Thanks ALL!!!

Hello All-

I analyzed and run my first tri-plex to perfprm at >100 per door (which I put down 25%) and look a this as a good rule of thumb.  Should I hold this same to be true while analyzing deals with no money down strategies?

Thanks BP 

@Stuart Birdsong  ha just figured out the mention feature so thought I'd use it. Thanks for the help!