All Forum Posts by: Dustin Perkins

@Steven Kane I would really like both appreciation and cash flow, but I don’t think the property will appreciate much. I would much rather a higher cash flow (preferably around $200),but we really want to get our feet wet. If I didn’t have a PM this property would produce $200 cash flow, but it’s in an area I am very unfamiliar with, so I would only do it with a PM. To answer your question, is it worth it? I’m not really sure, but I think it would be a good learning experience. If it would be in a better area with around $200 cash flow and it appreciated in an area that I’m more familiar with, that would be slam dunk for us.

@Steven Kane I get the $224 after I account for reserves and and the $149 after I account for reserves and a PM. Is this what you we’re asking?

Hi @Steven G.! So we submitted the offer $5,000 under the asking price at $50,000 (closing cost is supposed to be around $2,000). If the deal goes through the cash flow will be $224 without a property manager. If we hired a property manager it would be around $149 based on the prices I received (Most of them were around $75 a month). I am setting aside $50 a month for cap ex, $50 a month for maintenance, and $40 a month for vacancies. I'm not sure if my reserves are enough, but this is what I came up with after reading some post and watching videos. Any insight here would help! 

@Clint Shelley it’s renting for $750 and it’s not a flood zone. I just put in an offer!

Thanks @Clint Shelley. It is brick with an addition that has vinyl siding.

Thank you everyone for your guidance! This is very helpful! I've only spoke to one property manager. I told her my concerns about the neighbor hood and she said they actually have a property on the same street. She said it rents well and they have never had a problem. I am going to reach out to a few more property managers today to get their thoughts. Thanks again! This has been very helpful!

Hi Everyone,

My wife and I are looking at buying our first rental property. The house we are looking at is a 3/1. Its a very solid house. It has a new roof, new hot water heater, and a newer AC unit. The only problem is the house is not in the best area. It’s in an area where there is a lot of housing authority property’s being built. What’s really drawing our attention is the Cash flow. It would be around $200. The property is $55,000 and we would have to put 20% down for a 20 year term. Everything adds up except for the location. Does anyone have experience investing in property’s around housing authority developments? We really worry about the property depreciating. Is this a possibility?

Any advice helps! Thank you!

@Joseph Michael Sutton

Hi Joseph!

I am a newbie as well. I live in the Pineville area. Me and my wife are actively looking for some investment properties. Not sure if I could ever help, but would love to network!