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26 February 2021 | 21 replies
Down Payment of $87500Total Acquisition Cost = $87500 + $30000 + $14000 = $131500Gross income: $5200 / monthMonthly Expenses: PM at 9% = $421Leasing fees = $433Maintenance at 10% = $520Monthly Utilities (currently paid by owner) = $750-1000Property taxes $267Insurance = $250Principal and Interest = $1585Vacancy at 10% = $520TOTAL expenses = $4996CASH FLOW = $5200 – 4996 = $203 / month = $2436 a yearCoC Return without utility billback = 2% ($2436 / $131500)If I bill back utilities the CoC return would be 10% and would look like this: Gross Income: $5200Expenses: $3996Cash Flow: $1204 = $14,448 per yearCoc Return = $14,448 / $131500 = 11%What do you guys think?
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24 February 2021 | 1 reply
My question is after you collect your gross for the month do you put all your capex and maintenance savings in the same account, do you have separate accounts, do you put all your money in a single account and create a spreadsheet with numbers you have saved?
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3 March 2021 | 13 replies
I agree it's pretty gross in terms of sexism, but I hope it's changing as people realize that gender or orientation has nothing to do with REI knowledge and know-how.
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25 February 2021 | 9 replies
I won't speak for Fountain Square, what I will say is that in Indy, it is unlikely that I would pay $110k for a duplex that's generating $950/month gross.
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22 March 2021 | 16 replies
I want to invest into a property buy AirDna is telling me I can make 60k a year gross on a property that's listed on zillow for 589k.
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3 March 2021 | 19 replies
Right now with the one property your gross rents are $1000 maybe $1200 if you raise them.So that can you buy with your 1031 that will provide better gross rents and then back out any additional financing costs. 3 50K down payments on three new 200K houses might provide better cash flow over all considering that borrowing is so cheap these days.
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27 February 2021 | 23 replies
your running costs will be 50% maybe 55% or maybe 45% of gross income.. then pay your mortgage..
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27 February 2021 | 4 replies
Remember, if you have not yet claimed the investment property income on your taxes, lenders will typically use 75% of the gross rental income from the lease to qualify you.
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12 March 2021 | 15 replies
STR gross income should be FOUR TIMES or higher than the LTR rent?
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1 March 2021 | 5 replies
I don't have any experience with self-management personally as even when we only had the one unit I used a PM for 10% of the gross rent per month (well worth it in my opinion if financially it makes sense).