All Forum Posts by: Avi Garg

Looking for home insurance agent/broker recommendations for a SFH in Baytown.

@Raeshelle C.

Didn't know the tax and insurance was included in the $1981

$1981 for mortgage+tax+insurance on a loan of $281600 seems doable but double check.

32% is the total of the expenses which comes to $1600 

Don't know about the area but I would suggest add 5% as vacancy as well

2ns business loan for downpayment still stays at $479

Cash flow = 5000 - (1981+1600+250+479) = 690 

Rohan Attravanam The general consensus is to invest close to home. $400k for a 4plex is good. If this is your first investment definitely go for the 4plex. 1.4m 12plex in MO sounds good as well though Usually people buy cheaper properties in the mid-west. If u do not end up buying the 12 plex, can u send me more info on it?

I had to install smoke/CO detectors with non-removable batteries before selling my condo in CA. It either that or hard wire. Nowadays smoke detectors come with a 10 yr battery life. Check with the city if these are allowed in STL

Yes u can buy out of state with the FL LLC. You will have to register the LLC in that state

@Edouard Pierre You can get commercial loans for 2 flats .. Commercial loans are not restricted 5+ units ..

Also bundling them may sound like a good option but if you ever have to sell one of them, it will be a huge pain

@Chris A. Everything you asked have been answered in the forums and some of the files are uploaded as well. I would suggest read the forums more and ask specific questions. Open ended questions have too many variables. 

@Raeshelle C. 

I think you can take out a business loan since it does not post in your personal credit. However, you need to have 6 months of reserves and its 25% downpayment for commercial loans. Also how you get a business loan is another issue/discussion.

For the expenses:

You have 2 values for business loan and I took the higher one @ $479

Expenses @ 32% (this does NOT include insurance and taxes)

Your monthly expenses without taxes and insurance = 1981+479 + 1600 (32% of 5k) = $4060

Add in another few hundred for the taxes and insurance (lets say $500) and you are left with $440

In the process of acquiring a few units across different states and will be using PM to manage. I plan on using the PM provided software to track the rents and expenses while using excel myself to consolidate. 

Wanted to see if there are other out of state investors who use something other than excel to keep track of their properties.

@Robert Hetsler Please send more info to [email protected]