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13 September 2017 | 17 replies
Rent doesn't appear to cover expenses.
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13 September 2017 | 10 replies
Your tenants are staying with family so they are not accumulating additional hotel expense.
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13 September 2017 | 14 replies
and How much are all the expenses of the property?
26 September 2017 | 14 replies
The rents barely cover mortgage and expenses currently.So, my ask: What would you recommend doing with the above (do you even think its doable) to both provide income to live on and long term investment?
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15 September 2017 | 20 replies
Of the two deductibles items the plane ticket while more expensive will yield more bang for the buck.
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12 September 2017 | 8 replies
Go to small claims to recover out of pocket expenses, then move.
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13 September 2017 | 15 replies
If it's expensive and has a high annual fee, then talk to some professionals (CPA, Attorneys).
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9 November 2017 | 43 replies
Im $140,000 in debtNOI: $6,944.00Cash on Cash ROI:17.56%Monthly Cashflow:$439.09Income-Expense Ratio (2% Rule):1.96%Total Initial Equity:$94,000.00Gross Rent Multiplier:1.89Debt Coverage Ratio:4.15Purchase Cap Rate:27.78%Pro Forma Cap Rate:5.79%
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12 September 2017 | 6 replies
I also love YNAB for personal budgeting and use it religiously (knowing your income/expenses to the penny is key to profitable money management), so for the past few months I've increased my savings by pretending I'm carrying a note on a BRRRR and paying money into an account as if I'm in the middle of a 6 month rehab phase.I recommend that if you haven't laid out a business plan yet, grab a pen and paper and start mapping out your goals and how you'll get there.
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12 September 2017 | 2 replies
Purchase price: $125,000 (assuming offer is accepted)Down payment: $25,000 (20%)Financing: 30 yr @ 5% = $540 /moInitial rehab: $5,000Closing cost: $2,0001st yr Insurance: $1440Taxes: $120 /moInsurance: $120 /moVacancy: $150 /mo (8%)Maint/Cap-Ex: $270 /mo (15%)TOTAL EXPENSES: $1200Rent: $450 /unitTOTAL INCOME: $1800Cashflow: $600 /moCash on Cash: 21.5%Here is a link to the listing if it may provide more insight:Quadplex ListingThe unit is located on a decent street in a very small town (<10,000).