All Forum Posts by: Douglas Montgomery

Thanks for the reply @Erik W. I agree the Expenses were just what they listed. Not sure how to link the the bp rent analysis but see if this works https://www.biggerpockets.com/...

Thanks @Nathan Gesner for the reply.  Yes I agree about the rents being low. I did some checking and the cheapest Apartment rent I found in the area was $525 I live 15 min away from them and the town I currently invest in (1 hour away) brings 600 for a 2 bed unit.   The expenses were just what they listed basically lawn care.  I did a rental analysis and looks like a good deal. Im not sure how to link it here but I did post it yesterday. 

Alright people I need your help. I found this deal on the MLS. The realtor is the son in law of the seller. I went and looked at the 3 vacant properties and believe the rest are on the same quality level. The 3 I looked at probably need 5k a piece to get them rent ready. The other 11 have year or less old tenants in them. They don't have rent rolls but did send me a list of the properties with the monthly rent charged for each unit. the average is $465.00 per and also an expense sheet.

They are asking 475k He hinted that an offer in the low 4s would probably get it done.

Expenses are 1200 per year

Taxes 7000

Current Revenue 5115 

The banker I typically use offered me a 5.25  25 year AM using one of my other properties equity as a down payment.

What do you think and what other information do I need? 

@Jermaine chad Ingram I guess I should clarify this. The financing would be using an existing properties  equity as the down so the loan would still be for the full amount.

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

View report

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

I own SFH's in Indiana so I can't really speak about Multi but I would assume it was cost prohibitive when they converted the house to multi. My tenants all pay their own utilities. I do cover lawn care and snow removal only because I want to keep the yards nice and a family member owns a lawn care company. I would think you could possibly use the RUBS system in the instance of the single metered house, but you would have to do checking whether you could;d do it legally.

Thanks @Jack Butala and @Jason Lawrence  I look forward to connecting. and learning from the members of the BiggerPockets community.

Thanks Nick.  I’ll get with you in the next couple of weeks and we’ll talk shop.  

Thanks Brysen. I agree!!  Happy New Year.