All Forum Posts by: Wakes Andre

I'm on the market for an investment property. When I talk to a realtor about my requirements, price range, size, year, etc. I often hear that's it will be very hard to find. Nevertheless, I see that properties in the areas I'm looking for being sold that fall within my criteria every single day.
Moreover, a few properties got under contract before my realtor was able to reach out to the selling parties. With one realtor, it took 24 hours, with another 6 hours.
The other issue, I don't feel like realtors nowadays doing a good job, or at least it's my experience. Twelve years ago, when I purchase my first property, the realtors would search the area and filter the listings that won't fit my expectations, by scrupulously going through each listing. And then they would give you their recommendations or/and suggestions. Today, they just sent you everything that falls within search criteria and expects you to go through each of them yourself.

Thank you @Kenneth Garrett for your reply. Very helpful.

Thank you for your kind reply. That's why I ask questions here. Unfortunately, your answer doesn't contain any helpful information either related to my question.

Great point. Maintenace and Vacancy rate of 5% each 

Thank you, @Joe Villeneuve for your reply. Perfect point about the CF. If I put 20% down, which is the minimum I can, I will have about $300 profit. And it will take me about ten years to get my money back.

I need some advice on narrowing down the rental properties. What is the return percentage acceptable and considered good?

For example:

I have a potential property that costs $180K. The HOA is $135. Property Taxes are $270 per month. Home insurance $100 per month.

The fair rent based on the area is $1500

I'm thinking to put the downpayment $50K

With a mortgage for 30 years and an interest rate of 3.8% at the end, I may profit about $400. Would it be considered a good rate of return or bad? Should I buy it or not?

In the building where I have a rental property, the special assessment will be implemented this year. The special assessment will be in the range of $35-45K and it will cover new balconies, pool, parking lot, electrical stuff, etc.

Obviously, its huge expense and I would like to know if its tax deductible or not? Is it better to pay all at once from a tax standpoint or it's still better to finance? What would be your recommendation?

I would like to buy a rental property for $120 K. I have two options to pay it cash or finance it and buy two similar properties.

Which would be a preferred way in this situation to pay cash or finance and why? 

Example 1. Cash

• Price: $120 K
• Tax: $200
• HOA: $300
• Insurance: $50 per month
• Rent: $1200
• Profit: $650

Example 2. Finance 2 properties

• Price: $120 K 
• Tax: $200
• HOA: $300
• Insurance: $50 per month
• Rent: $1200
• Down payment: $60 K
• Principal and Interest: $310
• Profit: $340 per property = $680

 Thank you for your reply.

 Thank you. Just wanted to know if there are any option.