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27 July 2019 | 4 replies
With that money I was able to get a bachelors degree which led me to getting a master’s degree (which I paid for) in social work which led me to opening up a private therapy practice that produces a comfortable living.
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18 May 2020 | 30 replies
Anything that can help me get involved with hands-on experience I'll donate my time.I can also design and build websites, marketing materials etc (I'm a full-time professional designer and web-developer).If you are in the Houston area and have an opportunity for me to learn and give you a helping hand, please reach out!
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29 July 2019 | 16 replies
@Evan Snyder it can work everywhere, but it does not produce the same returns everywhere, especially when it comes to cash flow
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31 July 2019 | 50 replies
A number of years ago when I went to a new area I worked very hard producing leads and two investors helped me run some of the leads for 50% of the profit.
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31 July 2019 | 16 replies
Seems like if IRR can produce wildly different returns it isn’t a good tool...
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28 July 2019 | 4 replies
And if you do give them earnest money, I would advise that you put a contingency that it is refundable in the event that they can’t produce a clear title.
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31 July 2019 | 8 replies
Is it a SFR that will produce one rental stream or a multi-family which will produce several?
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28 July 2019 | 0 replies
Info:- It was purchased as a single unit residential property (appraisal should have been for a - it's a perfect income producing beachfront multiunit property which he renovated .. 10 plus bedrooms etc- selling for 800k.. but I can probably get it for 700k.- minimum cashflow at 5-10k/ month with str via AirBnb.
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28 July 2019 | 0 replies
Sometimes this web sites comes through but majority of the time I get old phone numbers.
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5 August 2019 | 12 replies
That being said I actually ran your numbers through a proforma I use and here is the break down for that: Purchase price: 129,900Effective Gross Income: 22,086 (vacancy 10% of gross income; 2454)Expenses:Expenses%EGITaxes $ 4,618.00 20.9%Insurance $ 1,500.00 Heat $ - Electricity $ - Water / Sewer $ 1,200.00 Trash / Recycling $ 180.00 Lawn / Snow $ - Management $ 2,208.60 10%Repairs $ 1,104.30 5%Capital Expenditures $ 1,104.30 5%Supplies $ - Accounting / Legal $ - Miscellaneous $ - Total Expenses $ 11,915.20 54%NOI: 10,170.80Financing: Down Payment $ 32,475.00 25%Bank Loan Amount $ 97,425.00 75%Interest Rate5.50%Closing Cost $ 7,794.00 6%Loan Term (years)30Monthly Payment w/ ESCROWDebt Service / yr $ (6,638.02)Debt Service / mo $ (553.17) $ (1,063.00)As is your property you're looking to purchase is valued at 7.8% cap rate and will produce cash flow of $3500/ year.