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13 June 2017 | 7 replies
You just have to screen your butt off to make sure you get the right tenants in.
11 June 2017 | 1 reply
In Alabama, you can wait for the annual tax sale that is held in every county and go bid or you can just buy leftovers from over-the-counter through the state: Alabama Tax Certificates & Deeds for SaleTo find the address, you need to google the county's GIS map and plug in the parcel number.DO NOT PUT FAITH IN GOOGLE EARTH OR ZILLOW PICTURES!!!
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23 July 2017 | 6 replies
I have no issue with getting my hands dirty to save on demo.A quick plug in of numbers, says that with the added income of the third unit could support an extra 30-40K for reno, I have to keep in mind there is a 3 unit just down the street that sold a few years ago at 15K less than what I have a on contract.I am glad you asked the question about the rehab, because the more I think about it, for the cost of the rehab I could purchase 2-3 more properties like this in the area.
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13 June 2017 | 2 replies
Remember, we assumed that you could make 5% return through stocks/mutual funds, so the 401k increased your yearly return by 2.87%.Or you could view this as the 2,400 contribution provides the exact same return as a 1,768.80 after tax real estate investment that had a 7.87% Internal Rate of Return.The condensed formula is:y = ((((Pv*(1 + R)^n) / C)^(1 / n)) - 1) *100Here's what happens when you plug this function into a graphing calculator with the variables we used.The Y-axis is the yearly return and the X-axis is the number of years.
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13 June 2017 | 7 replies
In the case of a rental property Max DTI=0.43>=(total payment)/(gross rent*0.75)Solving for gross rent you would get:gross rent= 3.1*total mortgage payment.An example with numbers:Mortgage payment-$10000.43=(1000)/(gross rent*0.75)Gross rent=$3100.77 (plug in and verify if you don't believe me)Does this mean for a property to not continue to increase my DTI I need to have the rent be 3.1 times the mortgage payment or am I missing something?
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21 June 2017 | 7 replies
You know it's all about how eager and willing a PM is to get up off their butts to answer the phone, and make a effort for showing.
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22 June 2017 | 7 replies
Then again they told me 12 hours after plugging some of the drying systems because it was to noisy and felt that the unit was dried.
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6 May 2019 | 19 replies
Otherwise I am just plugging along picking up properties when I can.You should reach out to @Shane H., he is in the Topeka area and a great guy to sit down and talk to.
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22 June 2017 | 3 replies
So I had asked my tenant to pick up the cigarette butts ONCE already, maybe about a month ago.