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Results (10,000+)
Dan Tsunekawa Over Leveraged? Or smart with Cash?
27 August 2017 | 23 replies
No wait, don’t answer that, i’ll start another thread)Vacancy Buy in markets with strong fundamentals (pop growth, job growth, job diversity) Buy in good quality B class neighborhoods that would maintain renters even in a downturnSave 5% gross rents for vacancySave for inevitable lease up feesRent Prices Drop My numbers predict i could stay in the black even with a 10% drop in rental prices (see example below)Other At time of purchase i set aside 6 months of gross rent in cash, for reservesSample PropertyThis is a sample property is actually more like a higher c class, but i you could move the numbers up higher and see the same thing with a B class SFRPurchase Price: $60,000Closing costs: $4,000Rent $900Vacancy ~ $45(5%)Maintenance ~ $45(5%)Capex ~ $125Op expenses(tax, insurance, lease up, mgmt) ~ $162NOI ~ $522Mortgage: $261Heloc: $68(at current rate) - $160(at highest rate)Cash flow: $193(at current rate) - $101(at highest rate)I'm a little scared to ask this, but better burned on BP then in real life, so here we go.What am i missing or what did i not think of?
Kristine Eickman Looking for a tax accountant in the Minneapolis area
28 June 2017 | 1 reply
If someone comes to me, I'll send them your way.If you need help in your search or want to verify something don't hesitate to ask.For example: I have clients worldwide and things are just as easy as I e-mail them, talking on the phone.
Tom De Moya Came across a wild deal. Am I nuts?
1 April 2018 | 11 replies
You might consider asking for his 2017 schedule E.3) Seller Financinga.
Shannon Trivett Nightmare tenant - PA
4 April 2018 | 1 reply
If hearing is before April 23rd, can we include the April 15thrent in the amount due or do we have to wait until April 23rdor alter to e able to include the April 15thrent?
Ryan Moore How to use income from current rental for future loan
9 June 2017 | 16 replies
The lender will take income from Sch E if its on your tax return.
Geoff Lingard suggestions for good books
12 June 2018 | 2 replies
NOT a real estate book but a superb reminder of how to invest financial fundamentals that will keep you out of trouble financially if you apply them to your life.
Dave Stokley Electronic vs. paper offers for bank-owned
15 June 2018 | 2 replies
I feel like this is just his excuse for not having e-contracts.Cheers,Dave
Kevin Holmes How To Find a Mentor
6 January 2023 | 11 replies
Quote from @Scott E.: Don't get too hung up on finding a mentor before doing your first deal.
Kyle Curtin I did something different this morning…..
3 March 2023 | 8 replies
Quote from @Scott E.: I've also found a lot of value in this quiet "me" time lately.