All Forum Posts by: Account Closed

I'd just go for the permit if your changes comply with code. Better safe than sorry.

Changing the number of baths and square footage is going to be an easy thing to spot when it doesn't match what's recorded at the appraisal district. You risk making a headache for yourself if you ever want to sell this house in the future, if an upset tenant wants to report you to the city, or any number of other scenarios. Why invite the risk?

I'd also be fairly skeptical of a contractor recommending you cut corners like this. What are they going to try to get away with when it comes to the expectations you set for a project?

Hey @Lee Korak, we have a site wide search feature you can access using the magnifying glass in the top right of the page. It will include forum posts in search results.

You can filter to only look in the forums as well if you want. You might just want to search everything, though, because we could have the answer to your questions in a blog article, podcast, or somewhere else on the platform.

Hey @Freddy Hernandez. Thanks for signing up for Pro and welcome to our community! 

BiggerPockets has a team dedicated to customer support and helping out with these types of issues as they arise. Please reach out to them using the form on this page: https://www.biggerpockets.com/contact-us#customer-support. I'm sure they will get you taken care of in no time at all.

Hope you enjoy the book and membership. I'm super excited to see you starting your investing journey and wish you the best of luck!

Hey @Joel Barjon!

Your understanding sounds right to me and consistent with how our calculators should work.

NOI will reflect all income and expenses for the property excluding principal and interest payments on any loans. Cash flow will consider all income and expenses including the payments you make on your loan.

Just doing some rough math here, and I am seeing figures pretty close to what you cite from the calculator so I'd wager it's accurate...

Monthly income - $1500 rent

Monthly expenses - $447.50 loan payment, $90 tax, $70 insurance, $75 vacancy, $75 repairs, $75 management, $75 cap ex.

That would land you a monthly cash flow of $592.50 ($1500 - $447.50 - $90 -$70 - $75 - $75 - $75 - $75). Pretty close to the $600 you mention; I imagine there is some slight difference in what you input in the calculator vs. what's listed here.

Your monthly NOI would be $1040 ($1500 - $90 - $70 - $75 - $75 - $75 - $75).

Annualized cash flow would be $7110 ($592.50 * 12 months). Since you put $21900 into the deal ($17900 down payment + $4000 closing cost), your cash on cash return is about 32% ($7110 / $21900). Again pretty close to the 34% you mention.

Hope the breakdown and explanation helped! Let me know if there's anything I can clarify here and, of course, good luck on the deal if you end up following through with it!

Hey everyone, the audiobook for Wealth without Cash is now available in our store at https://store.biggerpockets.com/products/wealth-without-cash.

I hope you enjoy the book and wish you the best on your investing journey!

That checkbox should be "sticky" for each user. Once you check it (or un-check it), it should stay that way for all your subsequent posts & replies. 

If you find that you are having to check it every single time, that's definitely not the intended behavior. It seems to be keeping the checked preference for me, but let me know if that's not the case for you.

Hey Richard,

If you're ever looking for old topics that you've posted or replied to, you can find your entire history on the forums linked in a couple places:

- by clicking the number of posts link within the "My Stats" header under your picture here in the forums

- by clicking the number of posts link within the little popup card that displays when you click on your picture throughout the site

- by clicking "Recent forum activity" from your profile page

They will all link to the same place: https://www.biggerpockets.com/posts/user/beachbum

I do see both of the topics you're referring to there, so I don't think they were lost. If you navigate back to them from your post history, you should be able to follow the topic by clicking the bell icon on the original post.

I would double check in the future that you have the "Notify me when a reply is posted" checkbox checked when you are replying to topics. That's the only reason I can think of off the top of my head that these topics wouldn't have shown up in your followed discussions like normal.

Hope this helps!

Hey @Jace Riley, we don't have an audiobook version yet since it's a brand new book release. We're expecting the audio version to be available as a separate product later this month!

Hey Jim, you can manage the emails you receive from BiggerPockets by going to the Notifications section of your Account Settings page. Here's a link: Notifications Settings. I believe the setting you're looking for is the "BiggerPockets Newsletter" which has been sponsored by Easy Street Capital in the past.

You should also see links to that settings page or an unsubscribe link at the bottom of any emails you receive from us.

Hope that helps!

From my experience, you will get the most accurate results when you break out the property into units and run the rent estimator as an "apartment" with beds and baths for each unique unit configuration. Once you have an estimate for each unit type in the property, sum that up yourself to get the combined total.

The rent estimator is primarily working off of comps based on nearby listings. Since listings for these types of properties always list a single unit for rent at a time, trying to estimate for each unit is going to get you a far better result.