Purchase price $ 510,000 Purchase Closing Costs 10,200 Estimated Rehab Costs 5,000 Total Project Costs 525,200 Downpayment (36.9%) 188,000 Loan Amount 322,000 Loan Interest Rate 5.250% Total Cash Needed 203,200 Gross Rents 61,440 Monthly Rental Income 5,120 Expenses Advertising 25 Gardening 66 Insurance 250 Management Fee 512 Pest Control 50 Property Tax 638 CapExpense 512 Security System 280 Vacancy 512 Total Monthly Expenses (55.6%) 2,845 Monthly P&I 1,778 Total Cash Flow 497 Performance Metrics Monthly Cash Flow $497 Cash on Cash Return (ROI) 3.17% DSCR 1.28 Purchase Cap Rate 5.35% Proforma Cap Rate 5.20% 1% Rule 0.97%

On a $100,000.00 loan amount.

Forrest Martinson without knowing debt amount and interest rates it’s hard to know what to suggest.As someone who used to have a job where I worked a lot, I’d recommend finding another job after the year is up.

As you learn your market, you may be able to increase that amount quite a bit.

Kirsten Braddock besides the other things people have mentioned I think you’re vastly underestimating the amount of time this would take.

Hi All,Looking for some recommendations for take out lenders for an out of state BRRRR I am looking at in Indiana that do loan amounts under $100k. 

There is a promissory note, and a Deed of Trust for the transaction, and if you look up the property in county tax records, she is the owner and his name isn't reflected anywhere.She owes a minimal amount on this home, and if a tornado or fire takes it down, she understands she is not covered, and theory still owes him for the balance, even though he also understands he'll never see that money.What would you do? 

Got motivated by reading "Rich Dad Poor Dad" and "Cashflow Quadrant," and I have a decent amount of capital to get going. 

"Owner agrees to limit the liability of ------------- and its employees and agents to the Owner and to contractors and subcontractors on the project, for claims in contract, tort or warranty to the sum of the amount paid for services or $ 20,000.00 which ever is higher.

Also from following the local forum's it does seem to be a large amount of people investing in Rochester from outside the area through local PM's.