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%.
Charanjit Singh
Investing in Carbondale Illinois
18 May 2024 | 14 replies
Stephen I can’t quantify that very easily with the information I get to but I would say with decreased in enrollment and increases in number of available units.
Mario Broughton
Are home owners losing their properties to fake foreclosures?
20 May 2024 | 11 replies
Not sure about the rest but hey it was late on a Saturday night when posted, who hasn't been there before.
Antonio Bodley
Pace Morby Gator Lending
18 May 2024 | 13 replies
To me, plenty of free information on the internet on how to learn how to give someone with no money unsecured loan in the hopes they pay you back.
Dominic Mendolia
assisted living/senior living
19 May 2024 | 90 replies
Originally posted by @Joe S.
Carrie Herring
I think I smell opportunity. Am I wrong?
20 May 2024 | 4 replies
I saw the following post locally in NE Georgia, where 1/2 raw lots go from 15 to 50k.
Mitchell Smith
Whether or not I should wait to buy and hold
20 May 2024 | 13 replies
So in the words of Ned Carey and my favorite post response of all time; "It depends".So first let's start with it will probably take you 4-6 months to research, find, get qualified, get an accepted offer and close on a property.
Sage Weiss
What to do with extra cash?
19 May 2024 | 23 replies
You can browse the forums for more information, but those are actually both pretty high risk options as well.Have you considered house hacking, or a live in flip?
John Anselmo
Current homeowner first time investment seeking sound entry strategy.
21 May 2024 | 4 replies
If you have the chance to read my long winded post and have insight on alternative ways start my REI journey please respond or feel free to DM me.