All Forum Posts by: Venkata Ede

There is a 2 car garage and in the neighborhood, people do park on the street. I was thinking that would be okay. What do you think?

 I want to cash flow and have the property appreciate. This is my first property and it looks like everyone thinks this deal isn't the best but it's not terrible. So I'm trying to decide if this should be my first deal. Or should I get a deal that is a little more straightforward or easier?  

@Deandre P. @Greg R.

Yes I was hoping to get $850 for the primary bedroom and $650-$700 for the other bedrooms w/ all utilities and internet paid

 I won't have a PM but the property is in a good area. I am thinking of staying on the property for the first year. 

Hi @Richardd Barran

I am wanting to rent out all 5 rooms in a longer-term rental agreement. I think my cap rate will be 7%

Hi @Greg R.

I am projecting a total of $3,650 for rent but worst case is $3,300

@Caleb Brown

Okay, the realtor says the value will be 370k-380k

Hi @Caleb Brown

23k with the downpayment and yea the 30k does include rehab and some electrical issues. 

But with me adding rooms and making the half bath a full, would the value increase?

Hi everyone!

Please tell me what you think of the deal below:

Strategy: Rent by the room | Purchase Price: 310k | Interest Rate: 7.1% | Square ft: 2027 | Closing Cost: 23k

Details: This home is a two-story with 3 beds (upstairs) and 2 and a half bathrooms located in Arlington, TX. Two living rooms because the previous owner added square footage.  There is a very small room (big enough for a twin bed) downstairs that the previous owner had a bed in but no closet. I was thinking to make that room bigger with a closet, add another room next to it which would take up the original living room, and make the half bath a full bath. So downstairs 2 beds and 1 bath and upstairs a master with a bath and two more beds and 1 bath. 

Rehab is around 30K. The seller will fix the roof and foundation and give 6,000 credit.

The lender says the home is currently worth 330K. 

My monthly payment will be around 2750/mo 

If you need more information just let me know. 
Thank you in advance!

Hi Everyone,

How do I analyze a rent-by-room deal? How do I know if the home is essentially a good deal for renting by the room?