All Forum Posts by: Carlos Lopez
Carlos Lopez has started 7 posts and replied 13 times.
Post: Need your opinion - 50% rule
- Angwin, CA
- Posts 13
- Votes 0
Thank you Joel, your post gives me a new perspective into my inflated real estate market. Wish there was more opportunity for cash flow in my region.
Post: Advice on property deal - 50% percent rule pass?
- Angwin, CA
- Posts 13
- Votes 0
I'm new at real estate investment and have been reading everything I can on investing properties, specially at Bigger pockets. My goal is long term investment. Buy and hold. Being so new I would the more experienced opinion of the wiser BiggerPockets community.
Here is my dilemma:
I live in Northern California where house prices have hardly dropped and my community has currently 1 house below the $400,000 price.
We are near a University and the rental market is always busy.
I'm currently looking at two houses.
A Duplex that rents for a total 1700 / month
A Fourplex with rents that total 3950 /month
The duplex, I'm thinking of offering 215k bank wants minimum 235k
Fourplex I was thinking of offering 400k Banks wants 465k
At these prices my calculations don't seem to cover the 50% rule.
I'm doing FHA or Conventional with only %5 down.
Doing my calculations, at the prices they are asking I don't even get a Cap Rate of 6% or the 1% rule.
What do you guys think? Houses are so expensive in this area and this makes it difficult to negotiate using comps.
I'll appreciate your input.
Post: Need your opinion - 50% rule
- Angwin, CA
- Posts 13
- Votes 0
I'm new at real estate investment and have been reading everything I can on investing properties, specially at Bigger pockets. My goal is long term investment. Buy and hold. Being so new I would the more experienced opinion of the wiser BiggerPockets community.
Here is my dilemma:
I live in Northern California where house prices have hardly dropped and my community has currently 1 house below the $400,000 price.
We are near a University and the rental market is always busy.
I'm currently looking at two houses.
A Duplex that rents for a total 1700 / month
A Fourplex with rents that total 3950 /month
The duplex, I'm thinking of offering 215k bank wants minimum 235k
Fourplex I was thinking of offering 400k Banks wants 465k
At these prices my calculations don't seem to cover the 50% rule.
I'm doing FHA or Conventional with only %5 down.
Doing my calculations, at the prices they are asking I don't even get a Cap Rate of 6% or the 1% rule.
What do you guys think? Houses are so expensive in this area and this makes it difficult to negotiate using comps.
I'll appreciate your input.