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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.
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5 April 2018 | 1 reply
I'm looking for recommendations for an honest, fairly-priced, and communicative general contractor for handling a few significant repairs.
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5 April 2018 | 10 replies
I have found a great fixer upper that I believe will cash flow well but, do lenders frown upon adding the cost of repairs to a mortgage loan?
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20 April 2018 | 4 replies
After talking with an attorney on if repair was responsibility of lower residence or my residence, knowing it was builder's fault but would be difficult/useless to try to get them to fix it 15 years later, we fixed the retaining wall for $9K.
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5 April 2018 | 1 reply
*DOM Below 60 days*Purchase price up to $150k*ARV's within $200k and below $300k* Repairs needed at or about low to mid level"MY question is, what does this buyer mean by stating "Repairs needed at or about low to mid level".
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5 April 2018 | 3 replies
With that knowledge, I was able to confidently invest in a SFH that only needed minor repairs to become rentable, to gain immediate cash flow, as I waited for the market to appreciate.The goal was to buy and sell within one year.Breakdown: Purchase date: 6/30/2017 Listed: $60,000 Under Contract (as the Buyer): $55,000 Acquisition Price: $46,250 Renovation Cost: $1,955 Total investment: $48,205 Ten months after the purchase, we are under contract on the selling side at $65,000.
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7 April 2018 | 4 replies
Just ask the lenders if you can buy with cash and get your cash back out after the repair work is completed.
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4 April 2018 | 0 replies
Both the driveway and back patio are concrete pads that are cracked and broken (beyond repair).