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19 April 2018 | 33 replies
If they do give notice during your vacation, arrange with a friend to arrange the cleaning and repairs for the turnover in exchange for whatever that's worth to you (less than the cost of an eviction, I am guessing).2.
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5 April 2018 | 6 replies
Undecided whether I should use my VA loan and purchase a duplex which is about $380,000 zero down and use the down payment money for repairs and upgrading each unit.On the other hand I can remain renting in Seattle, save money and invest on multifamily property outside the state of Washington.
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4 April 2018 | 2 replies
I should be able to get it down to 10% of rents collected with a professional management company; however, I'm assuming since this is my first property there will be some headaches with coaching them how I'd like to approach ongoing communications, repairs, etc.
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4 April 2018 | 8 replies
That $200/month can easily be wiped out with some expensive repairs due to hard partying or just lack of concern for the condition of the property.
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5 April 2018 | 7 replies
Living local will save you money in management and repairs/inspections.
4 April 2018 | 3 replies
Unless you think the property is hot and you buying it with enough equity in it to flip (consider 2 closing costs, repair and operating expenses), I would not recommend to borrow the down payment.
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7 April 2018 | 20 replies
Do you all typically look for repair or replacement coverage in the event of a total loss?
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5 April 2018 | 3 replies
Are there major repairs needed that you (the seller) are aware of?
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9 October 2018 | 6 replies
I found posts like this to be helpful when I was first learning about investing in real estate, so hopefully someone on here can get something out of it.Our goals were to cash flow $100 per month per door, have a cash-on-cash ROI of 12%, and achieve a total return of 20%.Purchase price: $179,900Our loan is a 30-year fixed rate residential mortgage at 4.25%25% Downpayment: $44,975Mortgage Payment (Principal & Interest): $663.75Operating Income$26,435 scheduled gross rents (4 units)$(1001) vacancy$600 garage rent$11 interest$26,045 gross operating incomeOperating ExpensesProperty Management (10% of gross rents): $(2543)Leasing fee for new tenant placement: $(550)Sewer: $(1397)Water & Trash: $(1232)Lawn care/mowing: $(350)Gas & electric during vacancy: $(228)City occupancy inspection aka government extortion fees: $(183)Maintenance & Repairs: $(3594)Property Taxes: $(2009)Insurance: $(983)$(13,069) gross operating expenseNet Operating Income: $12,976Mortgage P&I: $(7965)Cash Flow Before Taxes: $5,011Cash-on-cash return: 11%Equity Accrued: $2275Total Return: $7286Total ROI: 16%We hit our cash flow number almost exactly at $104 per door while our ROI and total return came in a little under our projections, but pretty damn close.