All Forum Posts by: Andrew Peters

Has anyone had an success in financing through a bank in the area with an LLC or being able to put the LLC on the deed at closing? Additionally, anyone suggest any banks or lending institutions that are very cooperative with investors?

I was really interested if I was missing something.  To dedicate that much of the net income see excessive to me. Is there an amount that should be built into calculations for unexpected expenses?

I am looking for clarification on the 50% rule.  Right now I am looking at a 4-plex, the seller is asking 125,000 and the rents currently generate 1700 per month.  According to the 50% rule, I split the 1700 in half, then the remaining (850) I would use to pay the mortgage, insurance, and taxes (~550) and what is left over is my cash flow (300).  But why am I allotting the first 50% to expenses every month, if I am spending 850 month on this property or any property it doesn't sound like a sound investment.  I understand allotting for those unexpected expenses but 850 a month sounds high for a property that is only cash flowing 300.  Any help is extremely grateful!

Thanks @Mark Nolan!!!!  Excellent information!

Dalton,

Welcome!!!  I just joined yesterday and I am from NC as well.  BP has tons of resources to read through and listen to.  Best of luck!

Andrew

Thanks!!!!

Hello,

I am new to this forum but have read several articles that were very good.  I am currently working in Afghanistan and have some extra income and would like to start investing in multi-family homes in and around my area.  Can't wait to learn more and meet new people!

Andrew