Mitchell Benson
My First Tri-Plex Rental Property
28 March 2015 | 1 reply
Don't be afraid to bring in a basement foundation repair company and get a quote to get the issues identified and fixed. 20% of 110k = 22k Down110k - 22k = 88k Financed88k @ 4% for 30 years === Monthly Payment of $420 (principle and interest)Other Numbers you'll need:Property Taxes (get on the county website)Insurance (just call an agent or ask owner)Repairs ( Really depends on condition of property, 10-15%)Utilities (get as many months of bills as possible)Property Mgt (even if you plan on doing this yourself)vacancy (depends on market and property, 10%)LawnCap Ex (depends on property but sounds high on this building) 15%These are VERY VERY rough numbers but lets look anyway...Gross Rent- 22,500 (assuming all 3 are rented at 625 and no washing machine income)ExpensesP&I- 5,040Taxes- 2,200 ( I figured 2% of home value)Ins- 800 Repairs 2250 Water 1800 (150/mth) Look into heat billVacancy 1125Prop Mgt 2250Lawn 300Cap Ex 3375Total 19,140 22500-19140= 3,360 Cash Flow YearlyInvestment of 22,000 / 3,360 = 15.2% ReturnPlus tax advantages, paying a little down on mortgage, possibly appreciation, learn a lot.Location, Basement, Local Market, Comparable properties, and firming up numbers ALL need to be looked into.Let me know what you think!
Mark S.
Feedback on crowdfunding platforms
19 April 2016 | 60 replies
Many of the rules are being made up right now and there isn't case law about them-Technology - It's hard to make things work for a reasonable price such that you don't have to charge large fees to feed the machine-Marketing - It takes hard work to attract people to your funding platform-Deals/Real Estate - It is hard to pick great projects without inside information or a lot of deals to select from.
Levi Bennett
Real Estate Photography in Orlando - Suggestions?
12 August 2021 | 9 replies
Hi @Erika Pucciarelli as a Realtor®, I have several photographer referrals.
Jasmine C.
Turn key companies
19 November 2018 | 49 replies
Standard of Practice 15-1REALTORS® shall not knowingly or recklessly file false or unfounded ethics complaints.
Kurt Moeller
Occasional House Centipedes in old Homes
16 April 2018 | 4 replies
I use Ortho® Home Defense MAX, I spray around the foundation at my home and one of my rentals that gets bugs.
Ryan Billingsley
Chromebook users!
8 April 2015 | 2 replies
It also syncs up nicely with Google Drive, so you can access all your files this way as well as using all of Google Docs apps.However, it is very limited in its functionality as it does not have an internal processor - everything is run through the machine's browser Google Chrome.
Mike Wallace
Agents allowed to wholesale....or have to cut in their broker on the deal?
7 April 2015 | 5 replies
Speaking as a Investing Broker/Realtor® with almost 19 years experience, I can safely share a few tips that might help you in your journey!
Account Closed
What are the best sources of upside in a value add MF property?
12 April 2015 | 3 replies
Another possibility might be adding additional sources of income - renting out the common space/room in the office if you have one, to the tenants for birthday parties etc, vending machines, coin operated laundry, pet fees, pet non refundable pet deposits.
Corey Demuth
Where is that thread about preventative maintenance
8 April 2015 | 3 replies
I distinctly remember there were things they did with the hot water heaters, and they were advocating replacing the rubber hoses on appliances that use water (such as dishwasher, washing machine, etc) with some kind of metal hoses that are virtually indestructible.There was a goldmine of information about good preventative maintenance steps for rental houses...
Karen Thomas
Meeting about a 24-plex, 100% owner financed. thoughts?
20 May 2016 | 3 replies
I had some free time and used the google machine to find their home addresses.