All Forum Posts by: William Futch

@Kevin Yoo, Thanks for that info.  That 50% rule is  looks great for beginners..

Renters pay utilities

Here are the Numbers, Purchase  $555,000.00     Gross Income  $5000.00   Expense That was given $500.00 Management, $ 32.50 Exterminators,  Insurance $234.00, Trash $ 72.50, Lawn care $ 32.50, Taxes $344.00, Lift station $80.00 ( total Monthly $1295.5) No mortgage( cash Buyer) 100% occupied Cap Rate 8%

( there is nothing being held for  Reserves or Repairs. What should that % be)

2nd one is  $489,000.00 (again cash buyer no mortgage) Purchase, Gross income $3460.00 (room for increase)  Management  $173.00, Insurance $300.00, Legal $50.00, Repairs $173.00, Taxes  $157.08, (monthly total  $853.08) cap rate 6.4 % ,100% occupied (here again Nothing in Reserves what % make sense)

Thanks for the help and. Just looking at this as a flip but need to know how the numbers looked and how to improve...I know that it would change if someone did a mortgage, but approached as a cash buy to see how it panned out an the numbers.

For all you Buy and Hold Investors out there in BP. If you had a multi-family duplex that had a NOI of $3700.00 a month ( this is a cash buy) and another one that had a NOI at $2600.00 a month(cash Buy) would this be worth it? No financing is figured in.

Thanks For your input. Learning the old fashion way, Hands ON....On the Job Training...LOL

I presently install Appliances.  Eben thought Stainless steel has a WOW factor  when it  gets scratch ed or dinged it also stands out. The Color black seems to do better especially if it is a rental...

Ok here is a Newby question.  I have been in construction for 15 to 20 years and been wanting to get into this  but have not been able to get all info to come together of how this is done. So with that being said after you get a private money lender and the money is put into escrow, how do you get the money to do the repairs. Can you get draws when work is being complete to pay or do I need to be able to pay for that out of my pocket until the project is complete. I am very glad to have found this site and apart of Bigger pockets.  I now see hope to being able to do this. For about 10 years I have been looking and ready to figure it out.  Looking do ward to all this place has to offer.

I will agree with you. I have been self employed in business for 25 years, in many different areas. Your words are true but if you keep pushing forward and learning and improving you will see results.. Thanks for sharing...

I install dishwashers  and here  are a few tips that might work.  First make sure that the legs are screwed all the way up. If they are already then pull the dishwasher to the edge of the tile and see it the top will tilt just enough to clear counter top. Usually if you can get the top to tilt you will find that you can then pick the bottom of the legs out from behind the tile and work the rest of it out, carefully.  If that is not an option,  go look at a new dishwasher and measure the  height with legs all the way up  to get minimum height  to see if ti will fit into the spot. If it will take a hacksaw or a pair of pliers and bend of cut the legs to remove and replace whit the new one.  Hope this helps. It is a pain when this happens and most people never think about it until they have to replace it..