All Forum Posts by: Angela Romero

@Rich O'Neill Hey Rich, thanks for the message! I just replied to you. 

Angela 

Hi Bigger Pockets community, 

I'm starting to analyze deals in the Philly + suburbs area. I'm looking for a small multi family in the 100-250K range. Here are the costs I'm estimating and would love to get your feedback on these numbers and assumptions. Does this look right or am I off base? I'm I missing any other expenses line items? 

Also, if you have a multi-family in this area for sale, send it my way! 

Costs 

Non-recurring 

Closing costs - 6% of purchase price

Monthly  

% Vacancy and Credit Losses - 5-10% of monthly rent

Property Management Fees - 8-11% of monthly rent

Real Estate Taxes - actual from folio # 

Repairs and Maintenance - 5-15% of monthly rent 

Rental Property Insurance - 2,000 

Homeowners/Property Association Fees - 0 

Capex reserve - 1% of purchase price

Utilities  

Water and Sewer - tenant

Gas and Electricity - tenant  

Garbage - tenant

Cable, Phone, Internet - tenant - tenant

@Alex Uman - thank you thats super helpful! My goal is to buy a small multi family that yields cashflow. Appreciation would be nice, but I'm not banking on that as I would prefer having cash right now. I've heard Darby and Delco are good places for cashflow. I looked ran the numbers in a multi family property and it wasnt terribly bad (6% cap tho I would like to confirm expenses) tho I would prefer a higher cap rate. So I'm going to keep looking! Any feedback would be helpful! 

@Sheryl Sitman - thank you so much! Any specific meetups, conferences, zoom calls, FB groups that you would recommend specifically for the Philly area?  

This is awesome, thanks @Shang Min Wang. How far along are you in your process? 

Hi everyone!

I'm attending Philly for grad school. I'm starting out my research on investment type single family, condo, duplex. I was hoping to get people's thoughts on the best type of investment and neighborhoods to invest in. My objective is to get cashflow from LT rentals.

Also looking to net work with people in the area. 

Thank you,

Angela

Hi everyone! 

I'm new to the Florida area. I'm located in Miami but open to investing in other areas. I'm looking to in Single Family or Duplex/Triplex for TL rental cashflow. What cities/areas would you recommend for this type of investment? Miami and Tampa are two cities I looked up but they seem saturated. Looking to network with people in these areas too. 

Thank you!

Angela

Thank you so much for all your advice! This is very helpful in terms of aligning my expectations. I will continue my search and see if I can find something! 

Hi, 

I'm new to the Miami area. I'm looking to invest in a Duplex/Triplex/Fourplex. I've been analyzing several deals (50+) using the 2% test and the 50% test and most deals look pretty awful. My sense is that the price to rent ratio is out of whack. I think the price in these places is too high for the kinds of rents that you can charge. I've been looking in Coral Way, Little Havana and Coral gables the outside areas. Are there any other areas where the numbers look better?