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10 January 2019 | 10 replies
Okay enough prologue, here's the deal:3003 Finley St, Fort Worth, TX, 76111 (United Riverside)4 bed, 2 bath, 1570sf, built 1951Asking $84,900Estimating $25,000 in repairs (roof is 2 years old) needs: vinyl floors, new countertops, appliances, HVAC, possibly re-wiring, trim/doors, and paint.Estimated ARV: $150,000 (I base this on 3 bed 2 bath comps ~1350sf only a few blocks away selling for $159k to $185k, roughly $100/sf to me seemed like a conservative estimate)Estimated rent $1400/month (I based this on Fair Market Rent chart for 76111 from section 8 housing which lists 3 bed at $1350 and 4 bed at $1720, plus several 3 bed 2 bath rentals currently available a few blocks away at $1350/month)Running BRRR numbers with $80k cash purchase, $25k rehab, refinance at $105k, %10 capex/repairs, 10% vacancy, 10% management fees led to a monthly net cash flow of about $200.Is there something I am missing about this deal that I need to account for?
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8 January 2019 | 6 replies
For all those smaller expenses... do you set up separate expense accounts in the chart of accounts or just like a Misc.
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19 August 2018 | 2 replies
Hi, I'm looking for assistance with getting my chart of accounts setup correctly in QuickBooks.
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27 August 2018 | 0 replies
The latter two of the printed documents contain a lot of economic information and charts on the local markets of the area I am trying to learn more about to invest in.
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4 September 2018 | 7 replies
The big hair on it is that the rent roll shows an outside company own about half the trailers.
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3 September 2018 | 51 replies
You can study charts pie graphs and statistics ..but nothing beats snooping around the area in your car or in foot .
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31 August 2018 | 15 replies
The interest you save is great and the mortgage balance will accelerate downward faster.So now when that is arranged and recorded - there are a number of things you can do next - refinance - put the seller first in second place - you get cash -- when you are ready to sell you can take some cash, do a wrap on your interest free mortgage and your existing mortgage and charge interest on the money you owe (it don't get no better than that - the yield is off the chart).
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31 August 2018 | 3 replies
I have only charted the dollars going out.
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6 September 2018 | 10 replies
The 'clearance' above the ceiling is full of 1960's era powdered insulation so good luck pulling wire.They are using my tile guy & he is tearing out what's left of his hair trying to get work done & he's been there 3 weeks.
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3 September 2018 | 4 replies
how do I find a step by step land lording chart