Michael Gilder
Investor from Charlotte MSA
12 December 2015 | 7 replies
Below are some quick links to get engaged on this site. http://www.biggerpockets.com/startherehttp://www.biggerpockets.com/meetSetting up Keyword AlertsHow to Use @Mentions on BiggerPocketshttps://www.biggerpockets.com/ruleshttps://www.biggerpockets.com/invitesREI books suggested by BPershttp://www.biggerpockets.com/renewsblog/2013/04/14/best-real-estate-books/?
Brock Laramee
Newbie is this a good deal?
8 December 2015 | 3 replies
I'm looking at a property in Delray Beach FL (I'll post below trying to run numbers for my first time).
Daniel Karbownik
Can somebody check my numbers?
8 December 2015 | 5 replies
Please let me know if these numbers make sense as a good deal:Purchase Price: $155kExpenses:Taxes: 3,439Insurance: 900Maintenance: 1,200Vacancy: 1,038Total Yearly Expenses: $6,577Total Monthly: $548Financing:$155k, 30 yrs, 5% = $832/monthExpenses + Debt = $1,380/monthIncome: Property comes with tenants paying $1,500/monthCashFlow: $120/monthNOI (without debt): 18,000 - 6,577 = $11,423Cap Rate: 11,423/155,000 = 7.37% In this particular town, 7+% is very hard to come byI also believe the current rent is below market, and has potential to raise to 1550 or more.
Brett Kabel
Rental Properties
8 December 2015 | 8 replies
Your time here will be well spent.Since you expressed an interest in rentals, I added three links below for your review.https://www.biggerpockets.com/renewsblog/2015/03/27/financing-options-rental-property-guide/ (financing options for rentals)http://www.biggerpockets.com/renewsblog/2013/01/04/how-to-rent-your-house/ (house rental guide)http://www.biggerpockets.com/renewsblog/2013/02/22/buying-rental-property/ (how to buy a rental property)Now that you have made the move, below are some links that will help with the navigation of the site. http://www.biggerpockets.com/startherehttp://www.biggerpockets.com/meetSetting up Keyword AlertsHow to Use @Mentions on BiggerPocketshttps://www.biggerpockets.com/ruleshttps://www.biggerpockets.com/inviteshttps://www.udemy.com/biggerpockets-real-estate-investing-course/ (video with 64 lectures and approx 6hrs of material)https://www.biggerpockets.com/real-estate-investing (Ultimate beginner's guide to REI)Before your 1st purchase, please ensure you visit the below link for some tips.https://www.biggerpockets.com/renewsblog/2014/12/19/real-estate-investing-success-smart-tips/REI books suggested by BPershttps://www.biggerpockets.com/renewsblog/2015/11/13/7-real-estate-books-beginner-investors/ (7 absolute must read books for beginner REIs)http://www.biggerpockets.com/renewsblog/2013/04/14/best-real-estate-books/?
Jeff Fairchild
When to use Transactional funding
8 December 2015 | 4 replies
Fees are more typically a bit below 2.0% and at times when needed are a reasonable cost of doing business.
Max James
When to charge tenant for clogged toilet
23 December 2015 | 22 replies
Maybe it will be a unit by unit thing or just instate a rule for myself that if rents are below $600, then bill them directly.
Rob Shinn
New Member Question
14 December 2015 | 3 replies
You normally buy the house below market value - the house is worth more but most companies will only loan up to the purchase price. 2.
Shawn Ackerman
There goes my commission
10 December 2015 | 2 replies
Initially, in this deal and according to MLS Seller buyer agency commission is split 50/50 (ok great)I submit my offer $9,500 below asking( including my commission in the purchase price to lower the purchase price and the seller counters with "I'm not paying any of the buyers expenses including commission.
Mark Neiger
Broker to me: "Your expectations are too high"
12 December 2015 | 34 replies
Were the rents below market when you were looking it?
Mitchell Van Overloop
Our first deal
11 December 2015 | 2 replies
We bought it about $20k below market value at $135k.