All Forum Posts by: Audrey Ezeh
Audrey Ezeh has started 11 posts and replied 184 times.
Post: D class neighborhood $200 a door ?
- Real Estate Investor
- Las Cruces, NM
- Posts 186
- Votes 173
Thanks! I appreciate that! I'm asking because mine is not exactly D, closer to C ( next to university) but I've lined up a PM who charges a flat 10% and nothing else ever and no discounts ever. She loves her job and loves evicting tenants asap. Screening meets my rigorous standards so I'm pretty happy with my choice of PM. I asked her to visit the property and she came back saying "easy rentals, go buy it." Offer is going in today....wish me luck :)
Post: D class neighborhood $200 a door ?
- Real Estate Investor
- Las Cruces, NM
- Posts 186
- Votes 173
Originally posted by @Kyle Mccaw:
An experienced D class investor should be able to upgrade the tenants, "encourage" bad tenants to move out, increase rents and fees. I would not suggest this as a newbie investment.
Hi Kyle, what if a newbie has a kickbutt PM that can do all the muscle work required and still profit $200/door, would you still say no? I always wondered about that when newbies are discouraged from d class neighborhoods. If you don't plan to manage it yourself i would assume this would be an ok investment. Thanks for your input!
Post: Should I do this deal or not???
- Real Estate Investor
- Las Cruces, NM
- Posts 186
- Votes 173
You are welcome! I'm a newbie myself and still looking tie down a great deal so hopefully we will have a success story to share soon! It definitely is tough to find deals but they are out there and I've seen them so keep digging! I'm doing the same and getting closer each day :)
Post: Should I do this deal or not???
- Real Estate Investor
- Las Cruces, NM
- Posts 186
- Votes 173
https://www.biggerpockets.com/renewsblog/2015/03/0...
Blog post from one of my favorite guys on BP Ben Leybovich (Between Brandon Turner's infectious enthusiasm and Ben's cynicism, I think I've hit a healthy balance). Read through the article and decide if you are buying a pig or not or if you need to adjust your numbers :) Good luck!
Post: Do You Have What It Takes To Be a Landlord?
- Real Estate Investor
- Las Cruces, NM
- Posts 186
- Votes 173
Indeed!
Post: Do You Have What It Takes To Be a Landlord?
- Real Estate Investor
- Las Cruces, NM
- Posts 186
- Votes 173
@Greg S., but then who will we buy our houses at deep discount from? 😀
Post: Trying to get a better understanding of cash flow.
- Real Estate Investor
- Las Cruces, NM
- Posts 186
- Votes 173
Also with those numbers your cash on cash return would be really poor too depending on how much you paid for the property.
Post: Trying to get a better understanding of cash flow.
- Real Estate Investor
- Las Cruces, NM
- Posts 186
- Votes 173
Yes that is the right way although you should figure out CapEx for each property rather than using a guide.
No one said it would be easy lol. But if you are paying that much in taxes, I'm guessing it is an expensive house so shouldn't you be getting more than $1k/month?
Post: Deal analysis Help , Single family in GA
- Real Estate Investor
- Las Cruces, NM
- Posts 186
- Votes 173
https://www.biggerpockets.com/renewsblog/2015/03/0...
You are not buying a 30k pig but the article explains CapEx well and tells you why it matters. I recommend reading it and running your numbers again. You need to account for PM even if you are managing it yourself. If you get tired of landlording one day and hire it out you'll be losing money unless you accounted for it and still cashflowed! Good luck!
Post: Deal analysis Help , Single family in GA
- Real Estate Investor
- Las Cruces, NM
- Posts 186
- Votes 173
You didn't account for CapEx and property management. I'd run the numbers again!