All Forum Posts by: Blair Ellis

Unfortunately, there's also the part where I have almost 6 figures in equity tied up in this house and need that for the successful closing on this next house. Not sure what kind of options I have...

Reggie, that's awesome bud! It seems right now that the demand for houses is outpacing the supply which is good for sellers. Good luck with your move and I hope it works out for you.

We're looking to build a house across the street and while we would ideally like to move once instead of twice, the reality of that isn't looking promising. Looking to see what kind of inventory is available to rent (if we were to list our house now, move #1 to a rental would likely be around October/November, then move #2 into the new house around February/March-ish of next year depending on speed of builder). Have 2 small kids and a medium dog (lab/mutt) so something with a fenced in back yard is preferred. Looking for A/B neighborhood. Yearlong lease is out of the question. Trying to help someone out who might have a vacancy and wants to limit reserve loss in the current environment.

From the GVL area here. Would love to connect.

Rentometer is coming up with high rates because of its proximity to downtown. But this is an interesting duplex at 1-1/1-1 (bed-bath) per side. Comparable (albeit lesser quality) nearby apartments are going for only 700 for a 1-1. Trying to accurately figure rental income has proven to be the part of this whole deal that has me perplexed.

This would be leveraged, not a cash deal. Just need to find creative ways to come up with the down payment.

Joe - The property management line item was included because if I'm going to eventually turn it over, I want to make sure it makes sense both ways. To include it and to not include it. But I agree, I'd be doing it my self to get used to it. I want to learn.

Emily and Adam, good looking out. I like the neighborhood. I think it's definitely growing, but I'm not sure exactly what I can get for this property in rents, which is the part that's causing me the most hesitation.

@Josh Bakhshi - What is typical for eviction costs? I've got 7%/mo budgeted for vacancy, but that's a good point of setting aside some additional legal fee funds.

Yea it's a place in Nicholtown...
And I agree, something seems a bit off about them not keeping it.

Just not 100% sold on pulling the trigger there.

It's listed at 169k. All in cash price would be about 38k at the list price.

I've accounted for all the typical expenses in my numbers.

Advertising
Taxes
Insurance
Vacancy
Repairs
Cap Ex
Water
Sewer
Garbage
Gas
Electric
HOA
Snow/Lawn
Prop Mgmt

Hey ya'll first post here on the forums. "Newbie investor" so go easy on me here.

Been reading and listening a ton to podcasts and articles. Learned how to run the numbers, etc.

I've located a duplex close to downtown Greenville, SC that should (with the proper rents - still a bit fuzzy on this one. More on this later.) cashflow around 4-500/mo.

The duplex is fully renovated already by what I can only assume is an investor looking to flip it.

I'm seeing comparable 1B/1Ba apartment units being rented for $700-800 within 5 min drive to downtown. The duplex isn't in a fantastic neighborhood, has a decent amount of crime, but is slowly being turned over into a nicer neighborhood.

My question is this. Knowing the slow growth and flip into a nicer neighborhood, and the potential to net 4-500/mo, would you invest? Let me know if I'm missing any pertinent info to make the decision. I can provide the numbers if need be.

Thanks!

Blair