All Forum Posts by: Cathey Bayless

I am starting a Virtual Bookkeeping service and I'd like to specialize in the Real Estate Investing Industry.  I am interested in growing the businesses of Rental Property Investors, Contractors, Property Managers, Flippers.  I am personally interested in eventually investing in Buy and Hold Multifamilies myself but at the present time have zero dollars to invest.

View report

*This link comes directly from our calculators, based on information input by the member who posted.

This property was on the market last year.  Since then it looks like the exterior was painted.  As I recall, the inspection reports said the buildings had problems with structural floors, electrical boxes.  I estimated CapEx on the larger side.  They did not spend more on repairs; still $18K.  It's been on the market 3 days this time. As I recall, $14K was spent on repairs and maintenance the last three years.

According to the Housing Market Analysis by HUD Tallahassee's student housing vacancy rate has been down to 2.9%since 2010.

Thanks!

View report

*This link comes directly from our calculators, based on information input by the member who posted.

Finally, after much editing, I was able to get between 8%-12% CoC return on this property.  Brandon says every property has a number that makes it a good deal.  This property was selling for $108,000 after being put back on the market.  After figuring $10/sf for paint and carpet and lowering my estimate for repairs/maintenance and CapEx, I came up with these numbers.  I have no money; I realize you have to have a proof of funds and/or earnest money when you offer.  What do you think?  I'm thinking underestimating repairs & CapEx might be dangerous, but to tell the truth, I haven't read my BP books on estimating rehabs and managing rehabs yet.

Thank you. I know I put the Water bill that high, but that is what the owner said he pays and utilities; he didn’t say what kind of utilities. I didn’t put anything for the garbage electricity etc.

Oh yes-I raised the rents to rentometer avg rent. Still negative but the meter moved the right direction.

Actually, I ran the report again with 20% down and got a negative cash flow and CoC because I have to service the debt. I could try it with a lower interest rate; I just heard on the radio that rates were about 6%. I tried lowering the purchase price by $23,000 (light repairs @ $10 per sf).

Thanks! That helped a lot!

View report

*This link comes directly from our calculators, based on information input by the member who posted.

Could someone explain to me cash-on-cash return?  I keep looking it up and heard many times what it is but it doesn't stick.  I cannot remember what to adjust to get a cash-on-cash return I like.