All Forum Posts by: Anthony Larson

mistake in last post, I meant an equal percentage of REO properties

I'm deployed now and looking at starting the business when I get home, I live in Milwaukee WI. Milwaukee and Atlanta have an equal PERCENTAGE compared to total housing (est). I'll difenately tak e a look at that website you displayed.

what type of insurances do you have and would you be willing to give estimates on how much these insurances cost?

Thanks in advance,

tony

congrats Ty

just returned from deployment I'm looking at this property to buy, so i can focus on school, and not work

17 unit and 12 unit building
17 unit building mix
15 unit rooms at $328 a month paid week 2 units $640 month
parking laundry incom $87
total month $6150
Total Annual $74000

12 unit building mix
8 efficiency $520 a month
4 rooms $390 a month
parking laundry income $152/month
Total Month $5700
Total Annual $68000

Actuals from Realtor
MONTHLY INCOME For 2009
2009
MONTH RENT COLLECTED Laundry TOTAL RENT COLLECTED Laundry TOTAL
JAN $5,810 $100 $5,755 $100
FEB $3,430 $100 $4,055 $100
MAR $3,782 $100 $3,640 $100
APR $3,030 $100 $4,573 $100
MAY $5,507 $100 $3,580 $100
JUN $4,392 $100 $3,277 $100
JUL $5,467 $100 $3,060 $100
AUG $5,730 $100 $4,526 $100
SEP $4,390 $100 $6,855 $100

TOTALS $41,538 $900 $39,321 $900

AVERAGE MONTHLY INCOME $4,615 $100 $4,715 $4,369 $100 $4,469

Annualized Average x 12 $55,384 $1,200 $56,584 $52,428 $1,200 $53,628

expenese
2008 Taxes (actual) $5,716 $7,985
electric (actual) $9,252 $8,352
Water / Sewer (actual) $1,362 $2,118
Insurance (actual) $1,350 $1,455
Rooming License (actual) $216 $0
Repair & Maintenance (projected) $3,000 $3,000
management 5% (projected) $3,190 $3,101
Reserve (projected) $1,800 $1,800
Total Expenses $25,886 $27,811

On market for $603000

Am I overlooking anything, it seems with favorable financing this property well work out nicer.
Great first investment to set up my business a foundation if you well.

Looking for insight, help, things to look out for, great loan companies, cash partners, anyway you can help I'd very much apprecitate it.