All Forum Posts by: Chris Vail

I think the Op is banking on the fact it is a new house so repairs would be minimal. However you should account for some vacancy and maintance/turnover costs to be safe. It sounds like you are intending to sell in 5 years or less, but I would caution you and ask what is your strategy if house prices slump or crash again and in 5 years you are upside down on the house and something major happens to the house and you need to put 8-10k into the house to get it rent ready?

@Kyle Kelley Thanks for the response, so the gensus for picking the area was the fact that you grew up near by and know the area.  Do you have local connections that stem from your time living there or have you set that up via long distance business over the phone/email.  

Congrats @Kyle Kelley  on your first deal.  I am curious how you came accross the property since your info states California as your current location.  What made you decide to purchase in this location?

Thank you to all that took the time to post on this thread...  Lots of great dialogue.

@Natalie C. can you speak to any of the details of the deal?  I am sure if it is good you will have lots of intrest from the Sacramento folks that are on the site.

@David Hutson I really like the idea of mini classes. Something that I have been struggling with is trying to figure out what constitutes a good deal in Sacramento and surrounding areas. Trying to break down what my expectations would be for a house and living situation and what potential renters would find desirable at the right price. I think some real world test cases in our market would be a great way to help break down some of those barreirs / reservations.

I will not be able to attend.

I am still on baby watch as my wife is due any day now, today was the offical due date, and the baby hasn't made an appearance yet.  I hope the MeetUp goes well.

That should set up a fantastic return @Sharad M. congratz.

@Sharad M. 

 If you have time can you go over the final numbers?

And expected return?

@Rob Smith You have to answer your own question when it comes to "is that considered a good investment?" If this was in my area I would jump on it if those numbers were true, however in your area it might be a so so deal.  Only you can decide if you will be happy with the rerurn on your money, if it fits what you are looking for and the numbers pan out then only fear of the unknown is whats holding you back.