All Forum Posts by: Tyler Silverman

I couldn't buy anything for $200k...but I could rent a decent apartment for 8-12 years...haha #sadpandaface

Looking forward to the meeting! Great idea :)

Hey y'all,

Who has done the thought experiment or has first-hand experience with property taxes before and after a BRRR project? I'm using the online calculators on BP for a market that has high property taxes and definitely something to consider. For example, a distressed property in this particular market was assessed at $141k and taxed at 2.8%, or $3900/yr for the past couple of years. The ARV is about $220k after a rehab. At that rate, the new taxes would be $6200/yr if assessed at the ARV estimate and same %rate. Over a year, that's a +$192/month increase which would almost (not quite but close) kill a BRRR project for this particular case. Since the BP calculator doesn't allow for a % tax, I'm curious with anyone's experience with post-rehab/ARV property and the new taxes in a BRRR project and what your particular local tax rates are. Maybe BRRRs aren't the best in high-taxed markets? This particular market is Milwaukee, WI. Thanks in advance everybody!!!!

Thanks, everyone for the insights and tips! You all are awesome! 

Hello everyone that reads this,

I'm reaching out to anyone that may have already done the math/thought exercise. My question is if buying points for a lower interest rate on a traditional-financing loan has any $ advantages for an investment property. If the cash flows are positive in either case (buying and not buying points), is the advantage of a lower interest rate really only observed after so many years of tenancy compared to not having bought points? What about buying points to make a deal cash-flow positive, jibberwash?

Approx 20% down payment for a property about $100k.

Thanks, BP community! :-D

Tyler

Hi! Could you please send details/financials to [email protected]

Thanks :)

In May, the main water line had backed up (someone's underwear had been obstructing normal flow) of a 12-unit condominium building. My unit (leased to a tenant) and my neighbor's unit were partially flooded as we're the lowest-lying units; we caught it early enough no other units were flooded. While it was a major inconvenience to my tenant at the time, there was no assignment of liability on either of our parts and the full rent was due that month. I did understand the inconvenience and extra electricity cost my tenant was responsible for with the hurricane ventilation fans during the drying process so I offered a decent gift card instead of just saying "too bad" and expecting the full month's rent. While there was inconvenience all-around, this was my best solution to the situation.

Hey hey!

I also get "this code is expired." Would like to upgrade to PRO annual with this, if possible!