All Forum Posts by: Austin Youmans

It is really a personal criteria but I would say if lower grade areas you would want more cash flow and the A type areas you typically get less cash flow.

Really Cash-on-Cash return is something better to talk about because if you buy with all cash then you are cash flowing great but not great return. On the flip side if you put 20% down your cash flow is less because of the mortgage but much better return.

BP file place under resources.

http://www.biggerpockets.com/files/category/contracts

if everything is  else looks good you can accept them with additional criteria such as:

• cosigners income must be 2 times what you require of a regular applicant.
• credit check on co signer
• verify paystubs of cosigner

I tried going to a CCRA (Clark County Rental Association) Meeting and now one was there.

Just wondering if anyone is apart of it and what do you think about it?

You only have 60 days to move into your FHA property.

Therefor you need to get rid of the month-to-month lease and move into that unit as the other lease is not up unit April.

Give the month-to-month lease a notice that your are terminating the lease and they have 30 days to move.

I agree with @Richard Redding and @Josh Mitchell.

Also run a full anaylisis and don't rely on a rule of thumb.

@Russ Draper is right.

If all you want is forced appreciation you need to make it a permanent structure.

By the time you reach your loan limit you should have some equity in the first 2 properties to use either by getting a HELOC or doing a 1031 exchange.

You might want to take a look at this small book that @Brandon Turner wrote.

http://www.biggerpockets.com/files/user/brandonatbp/file/7-years-to-7-figure-wealth

It uses 1031 exchanges pretty much all the way through.

Not worth your time or stress.

Just give her the 500 back and get keys and a signature she canceled the lease.

I wouldn't want to deal with her staying in my property and will most likely cost you a lot more than 500 in the long run.

• Did you factor in Cap Ex, Maintenance, Vacancy, utilities?
• How much more rent are you expecting out of a remolded kitchen/bathroom?

Those are big ticket Items to do a rehab on so depending on your neighborhood it may not be worth it.

I do not know your area but I am guessing you could find a better deal and possibly go up to 4 units.

Do all of you need to be on the FHA loan? You only get 1 at a time so if you and your wife get one and then your brother get his own then you could start out with 2 properties.