All Forum Posts by: Andre Sanchez

@Yasuha J. Dorce and @Rachel H. thank you

@Reggie Maggard Here is my breakdown:

4-plex each unit 1 bedroom 1 bath, total sq ft 3,260

Purchase price: $204,000

Total cash investment: $55,170

Expected annual rental income: $27,063 - two units currently renting under market value (long term tenants)

Total annual expenses: $10,400

Annual cash flow before taxes: $6,317

Cash on cash: 11%

CAP rate: 8.1%

The unit has recently had a new roof installed along with new windows. Overall it is a bit dated so there is room to add value and increase rents.

@Nathan Gesner Thank you. I agree the initial step is the hardest and a lot of work still remains. I will keep you updated.

@Ned Carey Thank you will do.

@Dominic D. Thank you. I explored several markets and decided to focus on Cincinnati. My goals are to buy and hold.

I would like to take a moment to share my story. I was interested in real estate investing several years ago but always felt it was not attainable. A few months ago I reached a point in my life where I have no debt (besides my primary residence) and able to save a decent amount to money each month. One day while performing investment research, I stumbled across Bigger Pockets and instantly became hooked. I began watching/listening to nearly every podcast and visited this forum nearly everyday. Heavily reliant on information from Bigger Pockets and other additional sources, I found my knowledge and confidence levels begin to rise to the point I felt this could be something I could actually do. I often heard the phrase "take action" and every time I did it felt somewhat personal. After exploring several different markets and evaluating what felt like hundreds of deals, I made offers on two different multi-family units. The first was denied but the second was accepted and am now under contract. I want to thank the Bigger Pockets community as I know without it, I likely would have never taken action. I am excited to continue learning and expanding my portfolio.

@Kemar Daley Hey Kemar I am also a new investor in the Parker area!

Hi everyone,

I am a new investor looking to purchase my first property. I currently live in Denver but with the high price of homes up here, I have had my eye on the Colorado Springs market. I lived in Colorado Springs for several years while in the service, so I am very familiar with the area. I am also considering out of state turn-key investments in better cash flow markets. I am open to all advice including strategy, financing, property management, etc. I am really enjoying the BP community and how there are so many willing to share their advice and experiences.

Thanks,

Andre