All Forum Posts by: Anthony Warlick

Luka, It is in Cookeville.  Owner has been in the hospital so not able to do anything currently.  I am going to go back to him with 900k and see where that goes.

I joined bigger pockets for the education and forums. Looking for a network to help find properties with cash flow both LTR and STR. Would love to find a group to talk with periodically just to talk about experiences.

I did run it through the calculator.  It is showing that 900k and raising rents to $1500 will break even.  What I have found out since posting is that owners are unrealistic on what they can get out of the property and are not willing to drop down that much.  It looks like a no go for them.  Thank you for the offer.

Anthony

3 duplexes (3/2) on 5 acres.  Average Rent currently is 1200/mo each (7200/mo).  Average rent for 3/2 in the area is 1600/mo (9600/mo).  Asking price $1,250,000.  I can get 30y just under 8% currently from my local bank (7,300/mo mortgage for $1 mil).  Based on current rent not potential rent max price should be 900k to be able to cash flow property.  Am I thinking about this correctly?