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15 June 2024 | 0 replies
Also please feel free to connect fellow wholesalers as I am always open to working out some JV deals and helping each other succeed.
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14 June 2024 | 3 replies
Feel free to inquire about their staff qualifications if it's a larger organization.2.
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16 June 2024 | 16 replies
Several different scenarios available: 1. subject is free and clear and the seller actually transfers the deed to your name and records a promissory note.
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18 June 2024 | 38 replies
Yes feel free to send me a message and I can put you in contact 👍
14 June 2024 | 10 replies
For a $300,000 property, this could be $6,000 to $15,000.Mortgage on Rental Property:Loan Amount: $240,000 (assuming 80% financed at 4% interest over 30 years).Monthly Payment: Approximately $1,145.Other Expenses:Property Taxes: Estimated at 1.5% of property value annually ($4,500).Insurance: Estimated at $1,500 annually.Maintenance: Estimated at 1% of property value annually ($3,000).Property Management Fees: Assuming 10% of monthly rental income ($2,400 annually if rent is $2,000 per month).Vacancy and Turnover Costs: Estimated at 5% of annual rental income ($1,200).Total Initial Investment and Annual Operating ExpensesInitial Investment:Total Borrowed from Equity: $150,000Down Payment for Rental Property: $60,000Closing Costs for Rental Property: $10,500 (average)Total Initial Cash Outlay: $70,500 (initial investment from equity) + $10,500 (closing costs)Annual Operating Expenses:Property Taxes: $4,500Insurance: $1,500Maintenance: $3,000Property Management Fees: $2,400Vacancy and Turnover Costs: $1,200Total Operating Expenses: $12,600 annuallyExpected ReturnRental Income:Assuming $2,000 per month, annual rental income = $24,000.Net Operating Income (NOI):Annual Rental Income: $24,000Minus Annual Operating Expenses: $12,600NOI: $11,400Debt Service:Mortgage Payment on Rental Property: $1,145 per month, $13,740 annually.Total Debt Service: $13,740 (rental property) + $8,592 (equity loan) = $22,332 annually.Net Cash Flow:NOI: $11,400Minus Debt Service: $22,332Net Cash Flow: -$10,932 annually (negative cash flow initially due to high debt service).Cash-on-Cash ReturnInitial Cash Investment: $70,500Net Cash Flow (first year): -$10,932Cash-on-Cash Return: Not applicable initially due to negative cash flow.Long-Term Appreciation and AdjustmentsProperty Appreciation:Assuming a 3% annual appreciation, the property value could increase by $9,000 annually.Rent Increases:Assuming a 2% annual rent increase, rental income will rise, improving cash flow over time.
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15 June 2024 | 4 replies
I've recently been having a lot of extra free time and decided to invest all of it into learning more about real estate and investments in real estate.
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14 June 2024 | 4 replies
In each of these potential locations, total NRSF is below 13.
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15 June 2024 | 87 replies
Not only are some people totally unknowledgeable and totally invested in their opinions, but they make stuff up to support their opinions and emotional beliefs.
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17 June 2024 | 16 replies
Experian will do it for free but I think it is definitely worth paying for this.One reason it is worth the investment is because you want this reporting to all 3 credit bureaus.
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15 June 2024 | 16 replies
feel free to reach out anytime.