All Forum Posts by: Dylan Tettemer

Zac Parks I'm wondering that as well! Because it's the only 4 bedroom house surrounded by 3 bedroom houses. But from what I saw, there's nothing majorly wrong with the property. Just needs new interior paint, I was going to replace the countertop because the cabinets look in great shape, new appliances, rip up the ugly carpet and tear off the ugly wall paper, and just a few patches in the dry wall. That's about it other than a few other minor things

John Walker Zac Parks for the ARV homes around the area were around 230K average. And with the rent there were only a few that were being rented out that I could see and the closest one I could find was a 3 bedroom renting for 2,200. Any advice for finding a solid rent if there aren't really any houses being rented out in the area?

Foreclosed house being sold at $179K 4 bedroom 3 bath it's been on the market for almost a year now so I was thinking I could get it at $160K. The house was built in 1987 and it could use a good bit of work. Here are the numbers: Purchase price: 160,000 Closing Costs: 1,900 Holding Costs: 1,800 ( 2 months) Estimated Repairs: 20,000 Down payment: 32,000 Mortgage Payment: $589 Total Expenses: Mortgage $589, taxes $379, insurance $67, vacancy 5% ($130), repairs 5% ($130), capex 10% ($260), PM 10% ($260) total = $1,815 Rent: 2,600 Cash flow: $785 Yearly cash flow: $9,420 CoCROI: 16.91% What do you think? Or do you need more info?

Kurt K. I didn't even think of that! That's a great idea, now I just gotta find a pm that's as good as yours hahaha

Mike D'Arrigo thanks for the tip! I just learned about turn key investing not too long ago so I'm still new to the idea

Ralph R. My father owns 3 properties as of now and owns his own contracting business. If he even has the time to manage a property and make sure the property is doing fine, I'm not sure what he would cost. Or maybe I could use a turn key company or pm and just ask him to watch over the house for me. What do you think?

I'm currently reading the BP book about rental properties and learning how to estimate all the costs for owning a property. It's a little overwhelming trying to learn all of this information. Anybody have any advice on it or how you got it down?

@Robert Rayford @Bac Nguyen My father is a Real Estate investor and also a General Contractor. I've had thoughts about maybe taking advantage of that and maybe having him help me out in investing in a property where he is at. What are your thoughts?

Ethan Capone welcome! How is it taking care of a property that far away?

Lane Kawaoka you're hired!