Kunal Lakhwani
Deal analysis on a turnkey property in Indianapolis IN
Purchase price: $152,00020% down: $30,400Closing costs: $2500Monthly rent: $1295Monthly cash flow: $250 (after mortgage payment, property taxes, insurance, 5% vacancy, 5% repairs and maintenance, 5% capEx)Looks like a...
Mike Dawson
Loan suggestions on 26 unit?
Hi. I'm looking at a 26 unit motel in a tertiary market. Current financials(according to the P&L) show a little over 35k NOI. Converting to an extended stay, that NOI would be closer to 76k, not including debt ...
Eric Turner
My first deal, I like the options, hate the squatters
Looking at a 3/2 1600 sqft, $300k SFR. Originally I had wanted to buy this house for my family. The price was right for us. We viewed it and it was trashed. There were a handful of drug addicts (the owner among them) ...
Justin Campbell
Seller Finance- how can I make this deal work?
Hey BP community,
I have a motivated seller that has four unity’s he’d like to sell using owner financing. He hasn’t requested a sales price, but is thinking along the lines of the 1% rule. Gross rents are $2630. The...
Molly Turner
Rental - 2 blocks from campus
I have an opportunity to buy a really nice SF home 2 blocks from a college campus. Occupancy is not an concern. My hesitation is that after repairs & my financing costs, I'm at 90% of the market value. Rents are ...
Chris Pelletier
Question for professional rehabbers
We are looking into buying our 1st rental property. We need to decide between purchasing a home that's currently rented or buying a home that needs some repair. We think the cash flow would be greater if we purchase...
Alexis Marie
Should I buy the other half?
I decided to turn my 1/2 duplex into a rental. I still have mortgage on it. The unit next to mine is vacant & owner asked me last year if I wanted to buy it, which I do want to. But the problem is the owner wanted...
Ju Hyun K.
I found the tenants used to have three unauthorized cats
Hello,
My lease has the following policy: (1) maximum two pets (more than two pets not allowed), (2) for each pet, nonrefundable deposit $250 mandatory, (3) For any pets and animals to be kept in or about the premise...
Mitchell Morgan
Closing Challenges - Repair roof before closing
The situation is I'm trying to purchase a property with conventional financing. The issue is the roof is in rough shape and 19 years old so I haven't had luck finding an insurance company to insure the home so that th...
Christina Williams
Offering a price on a wholesale property
Hello BP!I have a property value is $226,477. The owner is old and her daughter is basically taking care of her. The daughter wants to sell the property. Because I am a wholesaler I would only offer her about $100,00...