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21 February 2025 | 6 replies
Are they going to be able to buy your proudly done flip.3) If you misjudge the market, do you know when to dump it.4) Can you put a spreadsheet together on your purchase costs, carrying costs, rehab costs, closing costs, selling costs, tax costs, contractors that don't show and delay your project etc. etc. etc.5) Is the return worth the risk.
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10 February 2025 | 16 replies
Deduct NEW property taxes after you buyDeduct home insurance costsDeduct maintenance percentage, typically 10%Deduct vacancy+tenant nonperformance percentage(we recommend 5% for Class A, 10% Class B, 20% Class C, good luck with Class D)Deduct whatever dollar/percentage of cashflow you wantNow, what you have left over is the amount for debt service.Enter it into a mortgage calculator, with current interest rate for an investment property, to determine your maximum mortgage amount.Divide the mortgage amount by either 75% or 80%, depending on the required down payment percentage - this is your tentative price to offer.If the property needs repairs, you'll want to deduct 110%-120% of the estimated repairs from this amount.Be sure to also research the ARV and make sure it's 10-20% higher than your tentative purchase price.As long as the ARV checks out, this is the purchase price to offer.It is probably significantly below the asking price.
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5 February 2025 | 38 replies
Santarelli allegedly purchased from a government auction from the bankruptcy trustee and relaunched online.
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4 February 2025 | 38 replies
My plan is to sell my primary home in New York and purchase a house to live in South Carolina.
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10 February 2025 | 4 replies
Purchase in an international market for potential high returns?
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29 January 2025 | 22 replies
This will be my first home purchase, and I am aiming to invest in multi-family properties.What should I be aware of when purchasing a multi-family property?
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4 February 2025 | 0 replies
Purchase price: $380,000 Cash invested: $135,000 Annual rental to be turned into STR when tenant vacates What made you interested in investing in this type of deal?
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5 February 2025 | 54 replies
Current timeline to purchase is probably 6-12 months as I start narrowing down and visiting some of the places to get a better idea over the next few months.
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24 February 2025 | 3 replies
Hi BPers, We have just made a purchase which is our 11th property, yah!