All Forum Posts by: Vinod Sirimalle

@Holly Williams and @Andrew Davis - thanks much for the advice. I thought through this and ran some scenarios and decided to walk away from this deal. On the lookout again.

@Holly Williams - thanks for the feedback. My investment goals are to purchase a few buy-and-hold properties for long term, with some cash flow (doesn't have to be much in the beginning). I chose Orlando primarily because of a good friend and an investor who introduced me to a team he has been working with, so I went ahead explored there. The place I chose is in a very desirable neighborhood for families seeking top rated schools, so rental demand is there. I am not banking on huge appreciation.

Given that I will be financing via bank loan and my down payment, I am concerned about not having enough cash on hand to purchase another one . I haven't gotten to other creative financing options that worries me.

Hi all,

I am looking at a SFR in FL outside of Orlando. I used the rental property calculator and below is what it shows. Purchase price will be $208K. I am a relatively new investor (bought a similar property a few months ago), and this I thought would be an option for buy-and-hold (in the same region as my first property with the same team I worked with before). My concern is that I will be putting down 20% cash which I could perhaps use towards a higher return investment. This will be financed by a bank.

Monthly Income:$1,500.00 

Monthly Expenses: $1,303.10 

Monthly Cashflow:
$196.90 

Pro Forma Cap Rate:
6.13%

NOI:
$13,082.00 

Total Cash Needed:
$47,100.00

Cash on Cash ROI:
5.02% 

Purchase Cap Rate:
6.29%

@Gloria Lau - my in-laws have an investment property (their former home) in Cincinnati. It's free and clear for them and fetches them a decent cash flow. Not much appreciation though.

@Alex C. - Great to see another fellow San Mateo investor here. Hope to see you around and perhaps meet at one of the meet-ups. I am sure you will have a good success in Sacramento area.

Would love to stay in touch as a local investor as well. I'll send a message to connect.

@Srini V. - Welcome to BP. I am new here and it's great to see such experienced folks like you here. I lived in Austin many years ago, and use to spend my weekends in Dallas as I had several friends there. 

Welcome to BP community, @Paul Alvarez. It's great to see such experienced people in this community. I appreciate your sentiment about giving back to the community.

@Gloria Lau - Thanks for the welcome. Good to meet you. I have an SFR in FL. I haven't looking at IN at all but will explore it further. Which areas are you looking at, bay area or outside or both?

@Jerry Padilla - thanks for the suggestions for turnkey properties. I will check them out.

@Rahul Bhatt - thanks for the welcome. Equity in the condo is valuable, but it is simply the the loan amount I paid off. I bought at the peak and sold at the bottom. Yes, I do have to agree with you that owning a property in the bayarea for primary residence is not wise from an investment standpoint, it is simply a personal choice. Will stay in touch. 

@Jameson Adams - thanks for the welcome and your recommendations for local bay area regions to look for. I am also glad to get in touch with a contractor.

@Sterling White - thanks for the welcome and the advice. I understand that I should in the local region before venturing out. My out-of-state approach will be working closely with my friends who are in those areas. Btw, I'd like to stay in touch with you for IN region, as we have family there - and if an interesting deal comes in your area, who knows we could work together on it.

Hi all,

I am a fairly new real estate investor. I have been trying to get into real estate investing for a while, but never figured out how. One day I called up a very good friend of mine, who is a realtor in east bay. With his help, advice and guidance I was able to secure my first SFR. I am now working on a second one.

What got me to BP was the podcast. After listening to one podcast, I was thoroughly impressed by the panelists, learned a lot, more importantly it showed me how passionate this community is about learning and sharing. Had I known about this in 2012, I wouldn't have sold my condo in SF mission district in mid 2012 for $100K below my purchase price. I didn't know how to retain my SF condo and buy another one SFR (we needed a bigger space), so I sold that condo to use the equity towards the down payment of another house. One huge lesson learned replace "I won't be able do it" to "how can I do it?". That condo now rents close to $5K a month - huge cash flow. Very costly lesson, which I'll never forget.

At the moment my approach is to invest in a few properties with a buy-and-hold strategy. I would also like to partner with folks to invest locally or out-of-state.

Looking forward to connecting, participating and growing with the community.