All Forum Posts by: Jaycee Greene

Hi,

How to search property with specific zoning like MR3 (like multi residency) like that around any metro city. Which sites provide this option. Please advise

What are my options when the Housing Authority denies my rent increase for a Section 8 tenant?  I know I can get the increased rent amount from non section 8 tenants.  I currently have a month to month lease with the current Section 8 tenant.  

Thanks, Jaycee, my NOI is roughly $15K per year. And, thanks for the question. It reminds me I need to be stricter in tracking just NOI and excluding expenses from significant, but infrequent projects (like interior design fees, new furniture and decor, new hot tub, etc.). I own the property free and clear, and I was exploring a loan for about $240K on an estimated value of $430K. And, I do have a higher credit score (above 740).

I'm still looking into debt options. I was just trying to process what an inital interest rate really means in terms of servicing the debt and asking the group for a reality check. Are there really that many deals available at higher returns (18% or so and higher)? And, I didn't include any additional padding for inflation! At around 2.7%, that really begins to squeeze any potential profits.

Cheers!

I wish I could buy a duplex in Brooklyn for $155k. It's in Lansford, PA.

Appreciate the gut checks — here’s where I’m at and a couple asks:

Margins/reserves

• Yes, underwriting includes vacancy (7%), PM (~9–10%), taxes/insurance, and reserves for repairs/CapEx.

• At in-place rents ($2,150/mo) the model shows ~$89/mo cash flow after debt + vacancy + reserves with DSCR ~1.32.

• Getting to market ($2,400/mo) materially improves cushion, but I’m not banking on it Day 1.

Rate / product

• I have two current quotes from credit unions: 8.420% and 8.375% (30-yr amort, DSCR, 80% LTV, 5-yr prepay).

• If ~6.4% is realistic today on a DSCR for a 2-unit at 80% LTV, I’d love intros to those lenders.

@Jaycee Greene I'm not actually going to buy it I'm just practicing deal finding for when I can actually pursue something 

@Jaycee Greene so I'm still in highschool, I'm just trying to get practice. But yeah I would probably house hack it for a year. It's in chambersburg PA

Hi everyone, I'm a rookie and would appreciate some feedback on an idea I had to extract some more value out of an investment property. 

I fully own a property and make good rentals on it. I am considering a 30-year fixed loan of around $240K (APR 7.268%, $1,646 monthly payment) from Rocket to invest in real estate deals. I've been having an eye-opening discussion with ChatGPT to understand how the rate of return I need to service the debt (roughly break even) went from the 7.268% APR to around 8.23% (after tax) to around 11.83% (pre-tax, assuming a 27.8% effective tax rate based on my income, federal tax bracket, and state). 

I want to achieve greater cash flow by leveraging more of the value in my rental property. So, how realistic is it that I can effectively borrow at 11.83% (the effective pre-tax return I'd need to make the monthly mortgage payment) and make returns of at least 6% (requiring an investment return of almost 18%)? 

I need more regular, monthly cash flow (that's what prompted my interest in leveraging the value of my owned property). Do real estate deals typically include regular monthly payments I'd need to service the debt or only lump-sum payments when a property is sold?

What am I missing? Thank you!

I came across this deal today and it's 7br 3 bath 5300 square feet. The asking price is 370000. The rugs, wall paper and some cabinets are outdated and it looks like it was a bed and breakfast years ago. 
There's lots of rooms with offices or empty space that another room could be added and there's a large basement which could be turned into more rooms or a community area. I think it could easily be 10br 5 bath depending on how the piping is laid out. Any thoughts on this? I was thinking of renting by the room and using a 203k loan to update the cosmetic features.