All Forum Posts by: Andre Jernigan

Officially ordered my Intention Journal! Can’t wait to put it to use and especially excited for the mastermind group! Let the 90 day sprint begin!

Welcome @Gabriel Dominguez! You’re certainly in the right place! I’m brand new as well and have a goal of having my first rental property by March of 2020

@Chris Eidson that makes sense. The down payment I was thinking was perhaps an FHA. I remember reading with an investment loan or would be 25% down if I remember correctly

@Chris Eidson I am actually going through the pre-approval process. Originally it was to see where I stood and what I needed to work on. However I am meeting either this week or next week with the loan officer and was thinking about bringing this property up. Short answer: no I have not acquired this specific financing yet.

@Herndon Davis I saw your post as well and noticed the link didn't work. I went ahead and wrote another post with the correct link. Thank you very much

I appreciate the help @Tim Herman. I have posted a new post with the correct link

Over the past month or so I have been using the BP calculator in order to practice learning the basic concepts behind analyzing properties. I figured if I could learn the basics of how a difference in each metric changes cashflow, I would have a basis to know when I do come across a property that I could potentially make a great deal. I have come across a few properties that have appeared to be decent deals, however disregarded them as I had not thought about different ways to fund the property. I am eager to get started investing yet still have a little bit of capital to save in order to have an adequate amount for reserves after the purchase of my first rental property. I have included the analysis down below. As referenced in an earlier post, I was in a rush at the time and may have miscalculated or underestimated a few costs. As far as vacancy, CapEx, Property Management, and repairs I made them all 10% to be conservative just to try something out and found that the cashflow was still pretty good. As I stated, I feel like I have left a few costs short of what they should be and would love if you all would look over this and let me know what you think. I have a feeling that I may have missed something thus causing property looks far better than it actually is.

I look forward to hearing what you all have to say!

Thanks in advance!

View report

*This link comes directly from our calculators, based on information input by the member who posted.

Hello BP Community!

I’ll make this quick, as I started this post this morning before work but ended up running out the door in a hurry, and now am rushing to finish it while on a lunch break (insert long sigh).

Anyways, over the course of the past few weeks I have been using the BP Rental calculator in order to practice learning the basic concepts behind analyzing properties. I’ve come across a few that appeared to be rather good deals, however I disregarded them as I have been working to save up the capital and reserves necessary to dive into investing. Just last night I came across a triplex and ran the numbers to try something different. I’ve pasted the link to the final analysis I came up with this morning. Again, I was in a hurry and probably missed some things but I’d love if you all could take a look and tell me what you see and any mistakes I may have made which cause the deal to look better than it actually is.

Thanks in advance!

https://www.biggerpockets.com/buy_and_hold_results/1230254.pdf?c=1567617060

Hello BP Community!

I’ll make this quick, as I started this post this morning before work but ended up running out the door in a hurry, and now am rushing to finish it while on a lunch break (insert long sigh).

Anyways, over the course of the past few weeks I have been using the BP Rental calculator in order to practice learning the basic concepts behind analyzing properties. I’ve come across a few that appeared to be rather good deals, however I disregarded them as I have been working to save up the capital and reserves necessary to dive into investing. Just last night I came across a triplex and ran the numbers to try something different. I’ve pasted the link to the final analysis I came up with this morning. Again, I was in a hurry and probably missed some things but I’d love if you all could take a look and tell me what you see and any mistakes I may have made which cause the deal to look better than it actually is

Thanks in advance!

https://www.biggerpockets.com/buy_and_hold_results/1230254.pdf?c=1567617060

@Gregory Jones it’s interesting that I come across this post. I am currently in the knowledge gaining portion of the process. I’ve been starting to think up how to go about creating a business. Out of curiosity, is there a certain avenue you guys would want to go down or would it potentially be a broader spectrum?