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29 April 2018 | 15 replies
Also, @Rachel Liu, people do well investing out-of-state (just be careful), but have you considered an owner-occupied small multifamily for your first deal?
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17 April 2018 | 5 replies
We do not utilize any lead generation services like Thumbtack or Homeadvisor because the ones looking for quotes on those sites only care about who is the lowest.
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19 April 2018 | 33 replies
I don’t care what sob story you have.
4 April 2018 | 7 replies
Take care and as lame as it sounds thank you for your service.
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5 April 2018 | 3 replies
(I imagine your title company would take care of that, but good to ask before you even submit an offer.)Do you have any other properties for sale?
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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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6 April 2018 | 9 replies
I know of mortgage products for example that will allow you to look at the income being generated from the property itself (don't care about W2, tax returns, etc).
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6 April 2018 | 5 replies
Carefully review and understand the specific process and approval criteria or standards the governmental org. will use as a basis to make a decision on your request.
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4 April 2018 | 4 replies
Say the only thing they do is get the mortgage and you provide the downpayment/take care of everything else.