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14 October 2022 | 16 replies
Anonymity doesn't work much either, you usually cosign for your mortgages, and you write the checks, you sign the closing documents, you hire the workers, you call the plumber, you interview the tenant etc.So my advice, form a simple LLC, follow the rules, get insurance, and operate your business ethically.
3 September 2018 | 18 replies
Here are the numbers for the property:OverviewMonthly Income: $900.00Monthly Expenses: $961.09Monthly Cash Flow: -$61.09Pro Forma Cap Rate: 3.54% NOI: $2,016.00Total Cash Needed: $16,225.00Cash on Cash ROI: -4.52% Purchase Cap Rate: 3.54%Property Information Purchase Price: $56,900.00 Purchase Closing Costs: $2,000.00 Estimated Repair Costs: $0.00 Total Cost of Project: $58,900.00 After Repair Value $56,900.00Down Payment: $14,225.00 Loan Amount: $42,675.00 Loan Points: $0.00 Loan Fees: $0.00 Amortized Over: 30 years Loan Interest Rate: 5.000% Monthly P&I: $229.09ExpensesVacancy $54.00 (6%) Repairs $90.00 (10%) CapEx $198.00 (22%) Insurance $100.00 (11%) Management $90.00 (10%) P&I $229.09 (25%) Property Taxes $200.00 (22%) Total $961.09 (107%)Financial Projections Total Initial Equity: $14,225.00 Gross Rent Multiplier: 5.27 Income-Expense Ratio (2% Rule): 1.53% 50% Rule Cash Flow Estimates Total Monthly Income: $900.00 x50% for Expenses: $450.00 Monthly Payment/Interest Payment: $229.09 Total Monthly Cashflow using 50% Rule: $220.91
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31 May 2017 | 7 replies
@Christina LaBordeIf you are planning to form a single-member LLC, you should be okay with using any of the services discussed above.
22 April 2017 | 8 replies
We have gathered much of the data needed, but my major concern is obtaining the real rental history of a property and not just running numbers based off the pro-forma data from the MLS.
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29 April 2017 | 135 replies
(search BP for comments on Flex and Rylan along with a few others that haven't done so well)There is nothing stopping you from making a successful business model in Toledo, just be ready to form a team and be focused on its success.
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30 May 2020 | 79 replies
Can other landlords join your ongoing lawsuits to form a class action?
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3 October 2019 | 5 replies
They will impact your pro forma and will make or break your ROI.
11 January 2022 | 4 replies
Should we form a LLC and the LLC acquires the loan?