All Forum Posts by: Deborah Burian

Ok, you sucked me in :-). You haven't shared your other expenses or interest rate so I'm going to do the math as if it were in my community...

Taxes - $6600 (550.00/mo), Insurance, about 1.5% of purchase price so $3750.00 ($313.00mo), Maintenance 10%, lawn and water combined another 10%. Vacancy - for multi's I figure 10%, my SFH run 5% - we'll be generous and call it 5%. Mortgage term? Any balloon? Dunno so we'll wing it.

Monthly Expenses before mortgage =

Taxes - $550
Ins $313
Maint $340
Lwn/Wt$340
Vac $170. = $1713 without manager

Mort - 15yrs at 6% - $2110

Total Expenses = $3823

Mort - 30yrs at 6% - $1499

Total Expenses = $3212

For me - not feeling the love.

Use my own metrics to determine if it will cash flow after all expenses including vacancy, maintenance, etc. Don't really care if it's no money or regular down - does it cash flow... Plus - if it didn't sell for the current owner, it's not likely to sell well for you so you better get all your equity benefit up front.

Cleaners go in, touch up paint as needed, have carpet cleaned (usually), replace any broken or too-dusty-to-clean blinds. Usually a couple of hundred buck max unless it's just time to re-paint.

Mike Franco - I dunno

Derence Walk Oklahoma City... mostly what I know about Shawnee is that it has the one Starbucks between OKC and the state line.

Tevis Verrett - believe it or not, we don't exclude felonies. Depends on the crime of course, no drugs etc but it's pretty easy to get a felony for being young and stupid and if it's 20 years later and you've been straight ever since, you still need a place to live.

Thank you all for the feedback - dropping the price gets us a few more looks, feedback has been generally positive, comps are for other two stories, probably more concerned overall that people aren't even coming to look.

The weather here has been cool and wet so hoping the Spring RE fling comes along when weather normalizes, going to drop the price some more, just looking for additional ways to optimize number of showings. Also, price and activity are creeping up broadly in the market and since we don't need to fire sale it, are trying not to.

Want to sell the home and not see tenants/leasors/etc tear it up (purely emotional) so this will be strictly a conventional MLS deal unless I de-list and sell it at a flip price at the local REIA.

What a great story - congratulations. And... being the quintessential nerd, I googled "human equity" and the domain is taken...

Brian Hoyt - we are modest dreamers too :-). Congratulations to you!

Welcome to Bigger Pockets. Are you planning to move to Shawnee or invest remotely?