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1 July 2020 | 0 replies
HiI am buy and hold investor looking to buy turnkey or Burr in the Detroit and surrounding areas of Mi. what are the best neighborhoods, that are a being revitalized and are on a path to growth.
7 July 2020 | 15 replies
I always look to hire it out but I keep myself educated to exactly what is going on at all times.Third - I am surrounded my many people with capital but my goal if I was going down the JV route is to partner with someone far more knowledgeable and experienced than me/my friends.
1 July 2020 | 2 replies
Keep in mind this is coming from a real estate newbie, but I see different complexes being built around here and it just feels like Huntington Station will start "catching up" a bit to the surrounding areas, which would make it a decent place to buy and hold.
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3 July 2020 | 7 replies
Set goals, dream big, pray for guidance, surround yourself with successful people that aren't trying to take advantage of you by charging you 10K to take their guru class.
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1 July 2020 | 0 replies
Mostly paint, flooring, lots of plumbing, new tile shower surround, cleaned up the yard (shed tear down).
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8 July 2020 | 4 replies
Scanning BiggerPockets I haven’t found many people in Enid, Oklahoma so I’m looking to connect to any surrounding areas.
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3 July 2020 | 0 replies
I am 19 and obviously new to the real estate investing game and I am looking to see if anyone in the area or surrounding areas have any recommendations for contractors or suggestions as to how I can make the process as smooth and quick as possible.
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13 July 2020 | 6 replies
I want to start investing in real estate within rental properties.One of the properties I’m interested is as follows:- The property is located close to an elementary, a Walmart and a university- The property current asking price is $340,000- The property is 4,778 square feet • 1,194 per apartment built in 2006- Currently the property is currently leased for 750$ each and is generating $3,000 per month - The property has a potential to have the rents increased to $850 meaning $3400 in total based on the surrounding rents being charged around in the market- Estimated monthly cost$2,227- Principal & interest$1,508/mo included with no down payment - Mortgage insuranceNot included since not required by VA loan-Property taxes$550/mo-Home insurance$119/mo-HOA fees$100/moGarbage lawn care and other services-UtilitiesTenants pay for utility bills- $2,250 a month in total on average I plan on living in one since VA loan required me to vacate one apartment...depending on the rate of the income and the amount being generated and with the steady flow of tenants I can continue to get another apartment in the near future- At the moment it is generating $3,000- Since I’m living in one, the amount generated will be, $2,2503000-750= 2,250- Enough to pay off the property expenses and live for free - if I increase the rents based on the location to $850 I will be generating $3400 but again since I’ll be living one I will be making $2550- so 2,550-2,250= 300- $300/mo will be generated in cashflow every month CAP rate of 6.7%- When I’m able to rent the 4 plex fully the total cash flow would be $1,150/mo with a total CAP rate of 9.6%After a year or two of seeing steady tenants and rent increase I will do the same process but this time I will not be living in one generating the full amount having more cap rate within my second property and have my money generated within my job to be able to back up the payments in case of vacancy and repairs- GoalInvest in real estate and have my money generates throughout my income to maintain a propertyOwn 5 properties within 5 yearsBuy 4 plex’s 20 rental apartments in total in 5 yearsIs this too much or should I look for something smaller to start off with, and does this seem like an attainable and realistic goal according to my calculations.
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14 July 2020 | 9 replies
I'm curious what people's experiences are here and in the surrounding area?
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8 July 2020 | 6 replies
For spending as much as I have already on investments, I really haven’t asked those important questions surrounding an end game.