All Forum Posts by: RICARDO RUIZ

Thanks for the good advise...

morentsee:

I'll start doing more checking in those areas

Where does this rule come from ? Is there data supporting it ? I have couple friends with rental and they completely disagree with 50% expense rule..They believe its expenses are much less that 50% of one months rent... :beer:

Yesssss,

That's the way to go..It looks like it's about networking and always being open and ready to ponce on a deal. I guess that makes alot of sense if its a great deal the real estate agent who put it on the MLS would buy the property...

Just to confirm

mortgage(payment+interest+taxes) - expenses(using the 50 % rule )= cash flow

I have been looking around for a duplex or single family resident that has + cash flow in Orange County or L.A County but I cant seem to find anything..When I'm lucky I can find one that the rent comes close to mortgage payment with impounded taxes...Once you add the 50 percent rule for expensed then forget it its very negative..We look through the MLS and we cant find anything...Is it time to consider auctions at the county court house ? Do you use bird dogs ? Put down huge down payments? Any suggestions ?

Has anyone had any luck with the "will buy your home " signs ?

Rick

will do....thanks

Is this where renting a condo has some + since usually home owners association dues pays for this ? Well I guess this makes it much more difficult to get cash flow doesn't it :crying: .... Especially here in Southern California.. 8) .....Actuually fifty percent sounds like alot....That means that ,for example, on a rental that brings in 1500 per months that 750 of that should be set aside for expenses ?

Sorry to go off topic but I have a question

O.k I'm new to all this so please forgive the newby question....I followed Wheatie until he to to usual expense rule... How do you come up with usual expensed = 50 %. Fifty percent of what ? One months rent per year ?