All Forum Posts by: Account Closed

Raymond- I calculated my expenses at 39%, and I will be managing it. I've done my homework as far as calculating these figures- my husband is a commercial real estate project manager, and I have set up an excel spreadsheet with him to run numbers on properties. I didn't want to include all of the details here in order to save time. Income may seem high, but it's a unique market, where college units rent at double the cost of regular units.

Hi everyone,
I'm new to the site, and I'm analyzing my first deal. It's a 3 unit with great cash flow. It will bring in $32K per year after expenses. There are 2 issues 1) it has knob and tube wiring that needs replaced (I'm going to try to negotiate a lower sales price due to this) and 2) the new leases don't start for 10 months - it's a college rental, and they need prior approval from the school, which happens 8 months in advance, hence the delay. Carrying costs for ten months total $16,000. Is the great cash flow worth the carrying costs? The longer I wait to make an offer, the lesser the carrying period- would you wait? I'm in need of some advice from the experienced here. Thank you!

I'm new in the sense that I finally have the funds to invest. I was a part time real estate agent right out if college, and I still remember one property that was a great investment, but I couldn't afford it at the time. During law school, my landlord put our duplex up for sale- at a great price, but again, I had no funds. Now that I'm an attorney, I've finally saved enough to invest, I'm trying to find deals. Unfortunately, I live in the DC area, and things are expensive here, so I've started looking in less expensive areas (either up and coming parts of the city or Baltimore). I'm willing to take my time and learn- I'm not looking to get rich quick.