All Forum Posts by: Anthony Bonanno

I have an opportunity to purchase 44 SFR rentals in my area. I'm trying to evaluate if this is a good deal. Here are the numbers:

Annual Rents= $378,780
Annual Taxes= $50,168
Annual Ins= $16,080
Assessed Value= $2,411,900 (I’m currently working on getting comps)

They are 100% occupied and a majority have long term contracts in place. Rents are on par with the market with a possibility of slight increases over the course of the year. I'm waiting on getting his annual maintenance numbers. They're located in "ok" areas, meaning older parts of the city but not considered crime areas. They range from 1-3 BR. He grew up in the SFR rental business with his dad so he's been doing this a long time and is looking to cash out.

He’s asking $2,200,000 for the entire package. Is this a fair price? Any financing ideas to maximize this opportunity over a 10 year period? I’m a licensed real estate agent and this would include a 6% commission that I’m considering using as part of the down payment. Would a contract scenario be applicable or would bank financing be the best option? He’s a friend and I’m not sure if a contract would be the best approach due to our friendship. I’m turning the big 5-0 and would consider this a good retirement option. What other questions/information do I need to consider?

I was fortunate enough to have lunch on Thursday with a group of 12 BPer’s at Johnny Rockets. I’m sitting across from Rich Weese and J Scott talking business and best of all building relationships with people I highly admire and respect on the BP site. It was a great start and the networking continued through the weekend. The information was solid, speakers were spot on, and the people I met and the relationships developed were great!

Thanks to Josh and his team for putting on a top notch event. Count me in for REI Summit II!!

Rich Weese Rich, I'm still sitting in the Des Moines airport. My flight was delayed 3 hours....ugggh. Arrival time in Denver is now 10am so I will miss breakfast.....bummer. Hope to see you around this weekend!

Joshua Dorkin My plane arrives early tomorrow morning at 7:17am. I'm shuttling over to the hotel. I hope to get there in time for breakfast with Rich Weese & @greg b. I'll have time so let me know if you could use any help. Look forward to meeting everyone!

Greg B.Rich Weese My plane arrives early, 7:17am, on Thurs, March 22. I'm taking the shuttle to the hotel. I understand that it takes about an hour from the airport to the hotel. Would like to join you for breakfast if I get there in time. Let me know what time you were thinking. Thanks!

Thanks Just Don! Probably will attend with my wife. Might be something for her to experience since she's still a little hesitant moving forward with REI.

Just Don Did you attend the seminar? They're advertising in our market and have a couple seminar's scheduled for next week. Worth attending?

Greg B. I emailed you my info yesterday. Looking forward to meeting everyone!

Thanks Jon. I'll give her a call.

Jon Klaus I booked my room on March 1 and was told I could not get the BP room rate for Thursday night. I was charged $269 for Thurs night and the BP rate Fri and Sat night. Did your 4 nights include Thurs?