All Forum Posts by: Ally Kumar

Hi all, I need some expert advice. Looking at 4 unit apartment building in northern part of Tampa bay area. 

Purchase price $195,000 (30% down payment)

Tax $2006/yr

Insurance $2700/yr

Vacancy (6%) $1170/yr

Reserves $2000/yr

Self management with some hired help $1560/yr

No cap ex needed, turnkey, full rented

Current gross rents $28,200 (annual), rents are undermarket, full potential $31000

Is this a good deal or not? Am I missing anything in my analysis? Pl critique.

Thanks so much for your help. I am very impressed by collective knowledge of BP members and more importantly willingness to share and educate others. Keep up the great work, BP!!

Sure, put me on your buyer's list. For now, not considering mobile homes.

I am looking to invest in some properties (buy and hold) in citrus county, FL and wanted to connect with some investors/landlords in that area regarding rental market, more desirable neighborhoods, future growth etc. Pl fee free to message me. Thanks in advance.

Welcome all, another newbie here who joined BP recently. Anyone interested in making a local BP group of greater tampa bay area to meet up, toss ideas around and learn? 

Thank you Jonathan and Omar. Will check out both.

Would like to learn what is involved in "DD" for vacant or tenant occupied single or multifamily properties. I know its a basic question but are there variations of DD? To what extent experienced investors go in terms of DD? Different DD for single vs multifamily? What resources can one use? I know the basics of DD involve checking property records, permits, flood zone etc. but would like to learn more about DD.

Wayne, Welcome to Florida. I am in Tampa Bay area (south of citrus county) but visit Hernando county often. I have a friend who recently started investing in hernando county. I am a newbie investor so can't say about wholesaling there but I am trying to meet fellow local investors, maybe for a BP meet up sometime? 

Hi Larry, welcome. I am a newbie investor in tampa bay area. What kind of on the job training are you looking for? Rehab houses? I am looking for buy and hold houses that need minor work which I will get done for rentals and not flipping houses. I don't know if you are handy doing cosmetic work like painting, cleaning up yard etc?

Newbie investor in FL. I have been told by a real estate agent that her investors stay away from houses that are on septic as renters don't take care of what is flushed down and it can be a major expense. Just wanted to know what experienced investors/landlords think of this. Should I not consider any houses on septic? well water? What other things to stay away from for a landlord. Will have a property management co look after rentals. Any suggestions are appreciated. 

Thank you all for your useful suggestions. I definitely enjoyed the webinar yesterday and learned a lot. I am so glad I found this forum where there is so much useful info and generous people sharing their knowledge and experience without sales pitches.