Pratik Kochar
Input on Investment opportunity
20 May 2024 | 1 reply
Both properties fall into Class B- category and has no HOA and no rental restrictions.Here are the details for each property:Property 1:3 Bed, 2 Bath (1020 sq ft)Purchase Price: $250,000Moderate rehab needed (Kitchen, floor, bathroom sink vanity, light & fan fixtures, interior paint)Rehab Cost: $30,000After Repair Value (ARV): $295,000Down Payment: 20% (Out of Pocket: $50,000 + $30,000 (rehab) = $80,000)Projected Rental Income Post-renovation: $2100/monthProperty 2:2 Bed, 2.5 Bath (1168 sq ft)Purchase Price: $230,000Moderate rehab needed (Kitchen, floor, bathroom sink vanity, light & fan fixtures, interior paint)Rehab Cost: $30,000After Repair Value (ARV): $295,000Down Payment: 20% (Out of Pocket: $46,000 + $30,000 (rehab) = $76,000)Projected Rental Income Post-renovation: $1900/monthThe location is moderate, with amenities like shops, restaurants, a mall, and a baseball stadium within a 5-mile radius.Considering buying both as they are in the same building, the total cost and income overview would be:Total Price for Both Properties: $478,000Down Payment & Closing: $96,000 + $10,000 = $106,000Total Renovations: $60,000Total Price (Including Renovations): $478,000 + $60,000 = $538,000Total Out of Pocket: $166,000Projected Gross Rent Monthly: $4000The rate of interest for the mortgage is 7.5%.I am currently evaluating: A) The break-even point for two townhomes considering a cash investment of close to 32%.
Brandon Greenplate
Multifamily Commercial Conversion Workforce Housing Project
20 May 2024 | 0 replies
Purchase price: $1,900,000 Cash invested: $2,450,000 The building, “36 South,” is conveniently located next to the Sea Pines Circle and is now home to 48 employees for the Sea Pines Resort.
Suzzane Akande
New in the Houston area
20 May 2024 | 3 replies
I was leaning towards purchasing a duplex or single family home to do STR.
Malik K.
Owning investment property while renting
20 May 2024 | 5 replies
Looks like I’ll be purchasing a multiplex for ~560k.
Molly Jones
What's the best business loan I can get?
20 May 2024 | 3 replies
I have a legal business in the U.S. that has been open 1.5 years and I'm wondering if anyone has any good recommendations for a personal or business loan that will give me the best rate for this purchase?
Phil C.
Section 8 tenant refuses to sign rent increase form
21 May 2024 | 12 replies
I think that is something that needs to be taken into account when purchasing rental property.
Andrew Lopez
Down payment used for BRRRR strategy?
20 May 2024 | 11 replies
@Andrew Lopez, in MANY cases for the numbers on a BRRRR deal to work out the property needs to be very distressed and often not eligible for a traditional loan for the initial purchase.
Cindy Gregg
Capital Gains Taxes
20 May 2024 | 2 replies
Gain = Sales price less expenses less adjusted basisAdjusted basis is purchase price plus improvements less accumulated depreciation.
Quan Truong
New Investor- any advice is welcome!
20 May 2024 | 5 replies
Analyze potential investment properties based on factors such as purchase price, renovation costs, potential lease revenues, vacancy rates, property taxes, insurance costs, and ROI .
Jack Honroth
How do you source deals? Looking to buy my first property
21 May 2024 | 10 replies
Ensure that the purchase price, rehab costs, and After Repair Value (ARV) are all reasonable and accurately assessed.