All Forum Posts by: Chris Trupiano

@Jd Martin I'm using all of this as a quick way to figure if a property is worth finding the exact numbers in or just to pass on it. As you've said the 1.5% rent and 50% for rent and expenses are something I'd get exact number if I decided it's something I'm interested in. My question more is would this rough estimate be correct with the property? I'm not sure if 1.5% and 50% are correct for this market. How can I figure that out? 

New investor here. I'm trying to do quick analysis for properties using mostly rules of thumb (50% rule, 1.5% purchase price for rent, ect.) I feel like I'm horriblely estimating them. I'm not sure if I'm using the rules of thumb wrong or not. Any tips when trying to do a quick analysis to determine if a property is worth checking out? I'm trying to do multi family but another thing I'm unsure of is a lot of properties seem as if they're normal SFH but are listed as multi family? I'm thinking of du-, tri-, and quadplexes. This is the listing I'm doing a rough analysis on: http://m.homes.com/property/12613-w-85th-pl-lenexa...

Thanks for any help BP!

Hello I'm a new member to BP and the real estate investing community. I'm soon to close on a single family house thanks to my mentor. For my next step I've been thinking about house hacking a 4-plex during college, which I'll be entering this fall. My thoughts are that I'd need it to fully cover the mortgage + any repairs with it being a college town so anything less than 4 wouldn't have enough income to cover that. Does anyone have experience of doing this either during or in a college town? I'd love to talk to you.

Currently working with a mentor on buying a house using then selling using contract for deed. He's done over 20 houses this way so I know it will succeed in just unsure if it's the best possibility. The house is listed at $60,000 we'll most likely get him down to around 55k. I'd then be putting 20% down so 11k. We'd then be selling this house using contract for deed. the house sells for a 20k profit but is financed to the buyer by me with a 15 year loan around 9%. My loan would be the same but only 44k and around 5%. We also require 5k down by the buyer. Is this the best possibility or would making it a straight rental be better. With contract for deed they have to take care of all tax and upkeep so I see that as an upside but if they full pay off the payment to me after 15 years then all my money has been made where as a rental would earn til I sell it.

Thanks for any responses 

Currently working with a mentor on buying a house using then selling using contract for deed. He's done over 20 houses this way so I know it will succeed in just unsure if it's the best possibility. The house is listed at $60,000 we'll  most likely get him down to around 55k. I'd then be putting 20% down so 11k. We'd then be selling this house using contract for deed. the house sells for a 20k profit but is financed to the buyer by me with a 15 year loan around 9%. My loan would be the same but only 44k and around 5%. We also require 5k down by the buyer. Is this the best possibility or would making it a straight rental be better. With contract for deed they have to take care of all tax and upkeep so I see that as an upside but if they full pay off the payment to me after 15 years then all my money has been made where as a rental would earn til I sell it.

Thanks for any responses 

Currently working with a mentor on buying a house using then selling using contract for deed. He's done over 20 houses this way so I know it will succeed in just unsure if it's the best possibility. The house is listen at $60,000 well most likely get him down to around 55. I'd then be putting 20% down so 11k. We'd then be selling this house using contract for deed. the house sells for a 20k profit but is financed to the buyer by me with a 15 year loan around 9%. My loan would be the same but only 44k and around 5%. We also require 5k down by the buyer. Is this the best possibility or would making it a straight rental be better. With contract for deed they have to take care of all tax and upkeep so I see that as an upside but if they full pay off the payment to me after 15 years then all my money has been made where as a rental would earn til I sell it. 

Thanks for any responses 

Is there anyway to cash flow a property strictly using money from a private lender? or would the interest rate be too high for it to be worth it? Has anyone had success going about it this and if so can you explain how you accomplished it. Thanks 

Starting to become interested in REI. Started with Rich Dad Poor Dad for me. I like the idea of passive income earned from rentals. I have a decent sum of money to get started and believe i have someone to serve as a mentor. Im interested now in actually getting the property now. How do i find one? and a good deal at that? Are prices inflated again? would another housing crash affect me if I'm most interested in the income from rent then appreciation just the cherry on top? Also is REI a good choice at a young age if I'd miss out on the compounding of the stock market? Or would that be negated by reinvesting all profits? Thanks you for any responses!