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30 January 2025 | 11 replies
They will be an incredible resource for your first house hack and beyond in Phoenix and Maricopa County, AZ.
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25 January 2025 | 7 replies
Be able to get into my first, 2nd or 3rd property?
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19 February 2025 | 17 replies
I shopped all of my state's CU last time so I only called the top few this time around, it does seem like the best way to go about things.
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25 February 2025 | 1 reply
I am hoping to get a few tips on first, how do you get the conversation started with leasing companies or agents?
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18 February 2025 | 14 replies
I’ve wasted a lot of time going and looking at “a jewel of a deal”.
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20 February 2025 | 7 replies
It is the snowbird season in Florida, so it is a reasonable time to catch attention of those buyers.
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27 January 2025 | 7 replies
Quote from @Jeffrey Bourque: Hello All, I am new and this is my first attempt at purchasing a property with the intent to create monthly cash flow.The property: Triplex Listed at $140,000 - Total monthly rent income $2,150 - Tenants want to stay and are all willing to sign new leases for 3 years - 8 beds 5 baths and 3,500sqft livable space on a 4,800sqft lot - Heat and electric paid by tenants and water trash paid by owner $180 month - I have managed to talk the selling price down to $105,000 with a kick of $10,000 for closing and commissions so $115,000 all in - Building is in fairly good shape according to pictures and questions but have not done a inspection yet - some general maintenance repairs are needed according to the seller but nothing that seems to bother the tenants. - Taxes are on the higher side at $6,000 yearMy Numbers: $115,000 putting 20% of my money $23,000 and finance the rest with total expense of $1,834Monthly expense numbers: Future Maintenance 13% $273 - Vacancy 5% $105 - Property Insurance 5% $105 - Property Taxes 23% $500 - Property management 10% $215 - Office/Travel/Legal 4% $84 - Mortgage 26% $552 - Monthly Cash Flow - $316 per month or $3,792 per year so Cash on Cash = 17%I think this looks like it is a deal worth doing and I also believe I can bump the total rent up by $50 each tenant which I think make it even better.
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18 February 2025 | 3 replies
From there mechanical and large items are my first priority (water heater, HVAC, roof) - though an inspection gives us more information and those items can be used as great negotiation tools during your due diligence period.
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11 February 2025 | 1 reply
Hello @Shania J Seibles Welcome to BP and congrats on making your first post!