All Forum Posts by: Joshua D.

bump @Account Closed @Thomas S.

@Account Closed So Mike i have calculated all my numbers up and with all my properties and please correct me with my numbers if im wrong. still a newbie at this. Im a construction worker haha and not the smartest but everyone around here says im doing amazing. Im trying to provide for my family and have no choice at a dead end job trying like hell with Real Estate so here are my numbers. I have rented some of the above properties higher then what they should be but should be those numbers haha so you might say the numbers arent adding up. 

How i do my ROI= gain from investment-expenses/ cost of investment

current Rent Total yearly= $94,824

all expenses water,sewage,trash,insurence,full time remodeling guy and mait guy,lines of credit interest payment=     $43,763

total invested=$250,000       I also really over calculated everything i believe to play if safe honestly.

$94,824-$43,763/ $250,000= 20% ROI

Not sure about Cap rate from what i know Cap rate is same thing as ROI but if you were purchasing with cash and no Interest to be paid. so my cap rate= 22% if im doing that right.

Also @Thomas S. I also have 3 more properties i have not yet brought out the lines of credit yet for which would be around $300k. Just making sure i have all my ducks in a row and the banks are not giving me alot more then the properties are actually worth.

Thanks Everyone for the feedback any more info would be greatly appreciated

again @Bob B. @Junior Salters

What are the things that make a rental house or a flipper house in your eyes? From what you see should i try and sell something or what? Any advice on this topic would be great.

Junior Salters at this pace would you sell anything or keep renting?

Bob B. Thanks a lot that's exactly what we are doing is taking the cash and putting rift back into it. Would your advice be to sell any properties or keep renting and doing what we are doing? What makes a good rental or flip property?

Bump

my wife and I got into real estate investing about two years ago. I am going to put below the RE deals that we have made, thus far. We are both 28 and looking to really create a good business model and i think we have and will let everyone be the judge of that.

1. Duplex- have 21k into-Worth 35k- Generating $1,280/month in rent

2. SFH- have 30k into-Worth 75k- Generating $925/month in rent

3. SFH- have 39k into-worth 75k- Generating $1250/month in rent

4-5 SFH's- have 55k into both homes on same property- Worth 90k- generating $1747/month in rent

6. SFH- have 50k into- Worth 100k- generating $950/month in rent

7. SFH- have 50k into -Worth 100k- generaing $1250/month in rent

8. SFH Just purchased for $23,500, will have maybe $50k into it- will generate $900-$1200 rent or I'm thinking of selling for maybe 100k-130k. What determines if i should rent or sell?

NOW, granted, these numbers don't include our utilities costs/lines of credit costs, etc.

(However, we are in $138,500 debt total with the properties above .)

With us growing, we get nervous every now and again that we are doing the right thing. Sure, we've gained tons in equity, but then you get nervous wondering, "well what if i couldn't sell it?" I honestly put the properties worth lower then what i think they could sell for to play it save. Any realtor would list for a lot more.

Do you ever get nervous about sinking so much money into real estate? Do you think that it's 100% worth it? Feeling victorious but a little fearful, is it jusitified? Is it normal to ever feel apprehensive at times, hoping and praying that you're doing the right thing? The main question is property number 8 should i rent or sell. What determines that? Please help with advice. We have not sold a property yet we just rent should we sell anything?

What are the factors that make you decide to flip or rent a house? We always decide to rent with 8 rentals now and this would be are 9th we just closed on and all off are rentals have a roi of 20% and higher.

It also needs a complete gut out. Still go for it? With closing costs and everything we're gonna be into it for about $25,000 and think all in will have no more then $75,000 into it

Just bought a house for $23,500. The after-repair value on it is $120,000. 

The house REEKS of cat urine. We used a blacklight today and it's literally everywhere. It's sprayed on the walls and floors, but the biggest concern to me is the ductwork. 

I looked in it and it looks like the cats have literally been crawling into the ductwork and peeing. 

Anyone had any luck getting the urine smell out of ductwork? The urine is really one of the main things that concerns me. Everything else is relatively good. Would you buy this house?