All Forum Posts by: Ulisses B.

@Ariel K where are you getting $95 from? I don't factor in additional expenses until the end of the year and over a 12 month calendar year I've only had $108 in expenses. 

Investment Info:

Single-family residence buy & hold investment in Hattiesburg.

Purchase price: $60,000
Cash invested: $12,000

4th Rental Property. Struck up a deal with a tenant who will work on the house while he lives there for a discount on rent. This is next to my other rental property so it makes it easier when checking in on the properties. Mortgage: $323 / Rent: $650

Cash Flow: $327 a month

@Colin Leach that's awesome man. Do you buy a lot in the area ?

@Paul Park great question. I don't factor in CapEx right now. I factor in for 5% vacancy and 5% repairs which may be low so that CoC may be lower. The reason i chose this area was because it was near the University and it's where i spend a lot of my time for work. I also have another secondary home in that area that i live in during the week.

@Shane Jeanfreau, forgive me man, i'm not exactly sure what MHP but regardless of what that means, CONGRATS! I'm originally from the Midwest, born in Chicago but grew up in Wisconsin.  Work brought me here so i've been around for a 4 years now and decided to start to dabble in the RE market.  You live in NOLA, how did you come across your MHP purchase? Any concerns with the distance?

Single-family residence buy & hold investment in Hattiesburg.

Purchase price: $60,000
Cash invested: $12,000

4th Rental Property. Struck up a deal with a tenant who will work on the house while he lives there for a discount on rent. This is next to my other rental property so it makes it easier when checking in on the properties. Mortgage: $323 / Rent: $650

Cash Flow: $327 a month

What made you interested in investing in this type of deal?

This is the property right next door to another rental property that I own. They originally wanted 75k for it but then saw it at 65k...got it for 60k

How did you find this deal and how did you negotiate it?

Saw the For Sale sign when i was at my other property next door

Investment Info:

Single-family residence buy & hold investment in Hattiesburg.

Purchase price: $75,000
Cash invested: $14,000
Sale price: $80,000

First rental property ever. Ended up putting up 587 feet of fence to appeal to pet owners. Updated bathroom floor and a few kitchen updates. 3bedroom / 1 bath. Made the mistake of paying for the water which ended up eating into my profits. Mortgage: $569 a month. Rent: $1,025 a month. Average water bill: $90

Cash Flow: $366

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $80,000
Cash invested: $18,000

This was my 3rd investment property I purchased. Roughly 9 blocks away from the University of Southern Miss (where Brett Favre played in college). This rental was a Section 8 home where I payed for the water/garbage. My mortgage was $539 and i charged $1,025 a month. However, due to the water usage, i was paying almost $125 a month in water expenses (Cash flow: $361) I re-negotiated the lease and lowered the Rent to $950 and got away from paying the utilities.

Current cashflow: $419

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $80,000
Cash invested: $18,000

This was my 3rd investment property that I purchased. Roughly 9 blocks away from the University of Southern Miss (where Brett Favre played in college). One of my better investments, since it was such a turnkey property. This rental was a Section 8 home where I payed for the water/garbage. My mortgage was $539 and i charged $1,025 a month. However, due to the water usage, i was paying almost $125 a month in water expenses (Cash flow: $361) I re-negotiated the lease and lowered the Rent to $950 and got away from paying the utilities.

Current cashflow: $419

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $80,000
Cash invested: $18,000

This was my 3rd investment property, 9 blocks away from the University of Southern Miss (where Brett Favre played in college). This rental was Section 8 where I payed for the water/garbage. My mortgage was $539 and i charged $1,025 a month. However, due to the water usage, i was paying almost $125 a month in water expenses (Cash flow: $361) I re-negotiated the lease and lowered the Rent to $950 and got away from paying the utilities. Property was turnkey from day 1.

Current cashflow: $419

What made you interested in investing in this type of deal?

Turnkey approach, low cost, and rental rates in the area.

How did you find this deal and how did you negotiate it?

Trulia. due to the market and how fast properties were going I was okay with paying what the owners were asking for.

How did you finance this deal?

Loan - 20% down