All Forum Posts by: Will Harrison

Than you guys!!

Thanks for all the responses! This was truly helpful. I may have left some things out in the post but it did account for taxes  insurance and cap ex but not PM. The property has new roofing and quite a few other updates so i didnt go crazy on cap ex and repair allowance. I'll go back and factor that in PM and up repairs and cap ex and see what I would need to purchase at for it to make sense and if they object I'll just walk away knowing I made an educated decision. Thanks everyone!!!

@Joe P. @Account Closed

what percentage are you guys typically using for each category for your deals when it comes to buying for cash flow 

any thoughts  @Jay Helms @James W.?

Hello everyone my name is Will Harrison from Milwaukee WI. I signed up for bigger pockets a few months ago and I have been binge watching (well listening) to all the podcasts that are available. I have gained so much knowledge in these few months. This really is an awesome way to network and reach out to people for questions and advice. I look forward to discussing the many topics that can arise in the real estate business, connecting with great people across different markets and will soon be upgrading my membership. :)

Goal is at least $200/mo cash flow per rental property for my business

4plex 

3 units have already been updated

Potential to increase rents

Let me know what I'm missing

ARV.                $150000

ASKING.          $170000

REPAIRS.        $20000

Income (rents).          $2680

Expenses

Vacancy.         $268

Landscaping       $80

Reserve/repair. $200

Water.              $250

Utilities.            $200

Total.                 $730

Loans 

Mort.     $136000 (30 yrs @4.5%)

Private. $34000 (@8%)

Total.       $956

Cash flow $216

Cash on cash 4.72%

Thank you for all the responses. I will post the numbers on the property that I'm looking at sometime today for you guys to look at with a couple scenarios that I have calculated! Thanks again!

Hello all! Im wondering what are your thoughts on buying a property for cash flow when the seller wants more than what current market value is?