I don’t necessarily want to install coin op because I don’t want the hassle of having to go to the property to exchange the quarters etc.

All 2 bedroom unitsRents: $600 per doorMarket rents: $1100-1300 per unitRehab budget: $175kOther measures being implemented to increase NOI: Energy efficient LED lighting indoor and outdoor, RUBS, coin laundry, storage units, pet feesProjected rehab time: 6 monthsProjected ARV based on 7 CAP: $1.2mProjected cashflow after cashout refi: $400 per doorDeal#3Cost per unit: $55kRent per unit: $800-850/mo per unitProperty type: 4plex in Cincinnati How we found it: off market through Facebook groupStrategy: 1 year House-hack followed by 5-7 yr hold rentalFinancing: FHA loan 3.5% down @2.375% interest rate2 units owner occupied, 2 units rentedRental income covers all expenses and mortgage costsIf all 4 units are rented, property to cashflow $200-250 per door as-isLearnings:1) Mindset shift Reading Kiyosaki's Rich Dad, Poor Dad and Cashflow quadrant motivated us to - let go of our liabilities and build assets, move from Employee quadrant to Entrepreneur and Investor quadrant and put us on the path to create passive income.  2) Education - We spent a year reading books on real estate investing, listening to podcasts, reading BP forums and analyzing deals.

@Michael Haas   Well I did come upstairs from my vault full of gold coins that I stack and count over and over again to write the above post :)    I'm sure if SCC thinks we are the bad guys they will love the wall street hedge funds and other large out-of-area investors that buy all the seattle multifamily stock as local investors move their interests to the outer rim worlds, like renton, burien, and tatooine.

People just looking for a handout because they do not want to pony up coin I don't see it happening.

Im so tired of individuals trying to reap easy off our hard earned coins!

Also I'm fascinated with the gold/silver/rare coin business.

Hi BPer Landlord,Where do you usually buy your used coin up laundry machine?

Cost of money and use of funds play here and that is not constant.I see cash on cash returns, return on investment after taxes as a better yard stick to past performance and that historically guides you to new deals, what you should hit to increase your business.Frankly, I didn't have much time to sit and play, like Midas running his fingers through gold coins, it's interesting to push numbers, if you enjoy what if's and analysis, but that isn't making money!

@Grace Porritt, I love where your head is at and would be happy to connect you to more people I know in CO who would like to join your soon-to-be-group.I plan on flying to MI, WA, and CO in the next couple months.

My worry on each side of the coin is that a lease option may take too long to get a qualified buyer and he gets foreclosed on or with the owner finance it takes too long to assume the note.