Maria Ladd
Calculator question for 'other' category
29 January 2024 | 2 replies
I am using it to calculate for short-term and the 'other' I am inputting is the cleaning fee; with short-term turn-over, it's a substantial expense.
Matthew Masoud
Selling My Multifamily STR/MTR rental Nightmare
30 January 2024 | 13 replies
Some of these comments are somewhat amusing and definitely from a residential investor mindset.
Kayla Prange
Anyone willing to give me a reality check in either direction? STR first timer.
29 January 2024 | 31 replies
I am using some of their provided data on rental history and utility cost.
Robert Ellis
Building spec homes as an investor for a profit
29 January 2024 | 29 replies
As I was mentioned in this thread I did have long conversation with Robert and he sent me a mountain of back up on his research and cost analysis which to me at first blush look in line with what I am used to seeing in less expensive markets..When I was building infill in Charleston SC I would wonder out to suburbs where DR was building and I could not even build the homes for what they were retailing them for..
Mike Levene
Sanity Check On First BRRRR Deal
27 January 2024 | 12 replies
The renovation will cover the following:Kitchen - new floor, cabinets, appliances, paint, and remove a non-load bearing wall to open up the kitchen and living room.Living room - new floor and paint2 main bedrooms - new floor and paintMain bathroom - gut renovation, new floors, vanity, sink, showerBasement - convert portion of the basement into a 3rd bedroom with new sheetrock, paint, and flooring for finished part of basement and staircase, - wall off 2nd bathroom and gut renovatePurchase Price: $60,000Repair Cost: $30,000 (my own initial estimate came in around $25-30k so I am using 30k to be safer)ARV: $130,000Down Payment: $13,500 (15%)Hard Money Loan: $76,500 (85%)Monthly Expenses (6 Month, Interest Only Term):Interest: $825 (11%)Taxes: $220Insurance: $40Total Monthly Expenses: $1,085Total Expenses Over 6 Month Loan Term: $6,510Cash in the deal by the time of ReFi:Down Payment: $13,500Monthly Expenses for 6 Months: $6,510Purchase closing costs: $2,500Total Cash in Deal: $22,510Refinance:ReFi Loan: $97,500 (75% LTV)HML Payback: $76,500Closing Costs: $3,000"Profit" after ReFi: $18,000Equity after ReFi: $32,500Rental Income:Gross Income: $1,300/monthReFi Mortage Payment: $642/monthFixed Costs: $260/monthVariable Costs: $299/month (23%)Cashflow: $99/monthMy 2 exit strategies would be to simply flip the house, or, if the valuation comes in slightly lower than expected, I am confident I can still rent it at this price because it is a very rent heavy area compared to owning and continue with the BRRRR method with slightly better cashflow because of a slightly smaller ReFi loan amount.
Rashawn Dally
Question on refi
26 January 2024 | 6 replies
I am using a hard money loan to obtain and rehab the home.
Chai Jonn
Multifamily Deal Analyzer
25 January 2024 | 35 replies
Synthesis is the analyzer I am using and many fellow syndicators I know use.
Hector Serna
Just canceled my 3rd deal… time to start over
26 January 2024 | 46 replies
You can’t tell me it doesn’t come out as patronizing… yet amusing!
Benjamin Harrison
Insurance Recommendation for Flipper
22 January 2024 | 6 replies
I am a first time flipper and am using a self directed ROTH IRA to purchase the property.
Bien Nguyen
AirDNA data accuracy
21 January 2024 | 16 replies
@Andrew Steffens - I am using the paid version.