Another commercial space?

Plus mark-up on repairs/maintenance?

Originally posted by Mark Forest: Are you all buying houses to rent or holding back?

@Mark Updegraff - What you are referring to is the Soft Second Mortgage program available through the city of New Orleans.

Myself and business partner started with buy and hold and moved into the rehab space about 6 months ago.

@Mark Moore, I work with cash investors and I would be interested in seeing your list of off-market deals. 

The home is a 5/4 with 4700 sq ft of finished space and an unfinished 1400 sq ft walkout basement.

These are 5 attached 3 bedroom townhomes and 4 individual SF homes all on 1 acre of land.Please let me know if I am forgetting anything.Rent: $8,875.00Units: 9Maintenance $1,331.25Vacancy $443.75Property Manager $621.25Insurance $484.47Utilities $150 (calculated at 85% recapture on RUBS for water, gas and electric metered separately)Landscaping $300.00Advertising $73.96Ongoing Capital Expenses $887.50Taxes $702.63Purchase Price $385,000.00Rehab $78,100.00Holding Fees $17,750.00 (2 months rehab, some will rent sooner)Closing Costs $3,500.00Cash out of Pocket $484,350.00Additional ideas for extra income:Pet Rent - $10 per month per pet (the property has a huge green space for pets that I may actually fence in as a "dog park")Appliance Rental - $25 per month for w/d, $15 per month for refrigerator (I actually ran across this idea looking for my son an apartment recently)Property also has a big playground that I may remove -- not sure yet.Please let me know if there are other expenses that I am not calculating (hopefully they are small :))

Start by looking under Meet-Ups.As for your price point, you are looking at $150,000+ per unit at the 1-hour radius mark of TO depending on the building condition.

The amount of space people want now is amazing.