All Forum Posts by: Alexis Scott

Will Pritchett thank you so much for your time. I’ll check out his book. If I may ask, how long did it take you to come up with the money to buy your first deal?

I’m struggling trying to find money to buy my first deal. My credit is not good but I do work a full time job as a Leasing Agent in property management. I just need to figure out how to get the capital.

Andrew Johnson yes I figured 20% down but I see now where my numbers were a bit off. Commercial properties loans from a bank could be 20-30 years? Usually never less?

Brent Coombs I figured the rent is not high enough also or the purchase price needs to be lowered. Thank you for your input :)

Brent Coombs I arrived at $13,592 because I did a 7%interest rate for 15 years in my calculating.

Peter T. Paul Ronto David Faulkner thanks a ton!!!

Jill F. Craig Garrow thank you!

Hey BP! So I am trying to make sure I am calculating this deal correctly. Any help would be greatly appreciated :) Purchase Price: $1,550,000 Cash to Close: $155,000 Monthly Rent Total (11 units): $11,550 per unit is $1050 Property Tax: $591 (monthly) $ 7,090 (yearly) Insurance: $1,100 (monthly) Property Manager: $1,155 (10%) of monthly rent Mortgage: $13,932 (monthly) Vacancy: $1,155 (10%) Repairs: $1,155 (10%) Total: $19,089 Income-Expenses= $11,550-$19,089 -$7,539 negative cash flow I feel like I did the math wrong on this deal, any suggestions???????

Hey BP! How are you setting up promotions/advertisements to find tenants ?

@Anthony Gayden Thanks for congratulating me.