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5 October 2018 | 21 replies
I currently own 10 SFR and plan on adding to that, but I do like multi's for their scale.
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27 September 2018 | 0 replies
I know some people may not have the time to be a mentor so I’m asking if someone needs some extra help with their business.
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29 September 2018 | 10 replies
But, for no extra outlay for the duration of the loan, you'll eventually own it outright!
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28 September 2018 | 1 reply
It needs lots of work on the house and I’m sure some areas are not permitted, for instance they added a bathroom to the garage.
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12 October 2018 | 14 replies
My question was how people "deduct"/don't pay tax on those expenses.To provide numbers, again this on a property, but not one I currently own (tenant in place for 1 year so no ads, turnkey so should have low repairs, but I still use 8%).income 1250$/monthTaxes 177$/monthInsurance 100 $/monthmgmt fees 100$/monthmaint 100$/monthVacancy (not actual money put aside) 125 $/monthCapex 183$/monthmortgage 440$/month of which Interest 4000K/year (330$/month)monthly expenses:1225$/monthprojected net income: 25$/month
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30 September 2018 | 12 replies
So say you start with a small MFH and then keep adding more doors in the same geo area, then the same property management can manage more doors for you.
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3 October 2018 | 17 replies
As you get up to #7-10 mortgages there are a few extra guideline requirements, like more reserves required.
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28 September 2018 | 0 replies
Are mezzanines included in the floor space or added to it?
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3 October 2018 | 8 replies
I don't think I'll cash flow here, so I ran my numbers only on the money I needed to pull out to have no cash in.Financed amount is $100,000The monthly mortgage payment came out to be $435.59 per monthAt a 5.125% rate on a 30 year loan, I calculated a Net Renal Income came out to be $1,140 per monthI split the difference of the range and used $1,200 for an estimated monthly rent and added in a 5% vacancy rate.Expenditures came out to be $613.73 per monthI used an 11% property management fee, which was $125.40.I used $120 for capital expenditure reservesI used $60 per month for maintenance reservesProperty taxes were $225 per monthInsurance was $83.33 per monthThis put me at a Net Operating Income of $526.27 ($1,140 rent - $613.73 expenditures).
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3 January 2019 | 13 replies
If/when I do another flip, I'll get in with this guy, or a guy like him, and just partner and ride along, adding value however I can.