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3 September 2016 | 2 replies
I truly envy your skills in construction - they will be invaluable in REI.Do you have any tips on learning basic home improvement / handy-person skills?
3 September 2016 | 3 replies
Buyers consistently received bad service from selling agent such as late communication, late delivery of required documents such as lease agreements required for loan/bank (2 weeks late for 2 of the 3 lease agreements with no tenant/owner signature and haven't received 3rd lease agreement) as well as selling agent did not give notification to 2 of the 3 tenants for loan appraisal so appraiser had to come twice to property, all to which has delayed buyer's loan.
6 September 2016 | 14 replies
Fully leveraged is fine, but make sure that the property you're buying cashflow well enough to cover the servicing of all your debts.
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8 September 2016 | 8 replies
Tyler, thank you for your service.
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5 September 2016 | 3 replies
I'm looking for a one-time cleaning service in Ontario.
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4 September 2016 | 14 replies
I tried to include all the pertinent information below:Rental Income: $13,200Rent: Currently has a tenant on one side at $550 per month without a lease – I’ve made it a condition of the sale that the tenant has either signed a new lease with my property management company or delivers that side vacant; other side is not rented out due to required rent ready repairs; rental comps in the area show between $550-600 (I’m being conservative and assuming $550).Expenses:Vacancy: 10% ($1,320)Property Management: 10% of gross rents ($1,188)Property Taxes: $2,065 ($905 for City of Memphis, $1,160 for Shelby County)Property Insurance: $450 per year Repairs and Maintenance Assumption: 2% of Property Value per year ($980 per year)Utilities: separately metered; all paid by tenant except for lawn mowing at $25 once a month for $300Advertising: 6% (roughly ½ of first month’s rent) $792 per yearDebt Service: Based on $49k purchase + repair price, 20% ($9.8k) down, 5% 30 year fixed is $2,525 per yearLocation:This is probably where most of my concern is coming from: Western edge of Hickory Hill, Memphis, 38115; major cross streets: just SW of Clarke Rd and Winchester RdAcquisition:Purchase Price: $42k, seller to pay closing costsRepairs: $7.5kTotal Acquisition Cost: $49.5kARV: Large range of comps in the area, best guess is $60kFinancial Metrics:Net Operating Income: $6,105Cap Rate: 12.33%Cash Flow: $3,580 per year, $298.33 per month, $149.17 per unit per monthCash-on-Cash Return: 36.5%Do you think it's a good deal?
8 September 2016 | 9 replies
Hello, I'm currently a service member of the US Army and I'm looking into investing in real estate in the Miami, Miami Beach, North Miami Beach, Miami Lakes and Hialeah area.
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3 September 2016 | 2 replies
Lease option teant/buyers are willing to pay a bit more for this service.
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5 September 2016 | 15 replies
Good luck on your endeavors and thank you for your service!
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6 September 2016 | 5 replies
I've heard that some seasonal mobile home parks shut off service to the entire park for the winter.