All Forum Posts by: Eric Boakye

@Theresa Harris - Thank you so much. GOD bless you!!

@Theresa Harris. Thank you! Cash flow will be between $150 - $200 per month, after deducting all expenses including Monthly wear and tear as well as vacancy.

Looking at this deal:

Ask: $160k

Rent: $1400

ARV: $170k

Great school district

Tenant already in property for the next 9 months

Roof to be replaced in 5 years

Would you buy or not? Your expert views will be greatly appreciated!

@Chris Seveney

Can you please explain how you work this? Trying to make sure I understand how you achieve a good return in this type of investment.

Thanks so much for enlightening me!

@Chris Seveney

Thanks again!!

You know, I am following the 1% rule and it is really difficult to find deals that fit this rule these days if you take into account the debt service cost + insurance, in addition to Capex and vacancy as well as maintenance. As an accountant it throws my math out, but I am guessing there are deals out there that will fit it. Will keep searching for the gems.

Thank you for the comment - much appreciated!

@Chris Seveney

Thanks! Any extra exps on top of debt service and insurance reduces my cash flow expectation significantly, but I guess it needs to be baked in in order to call a deal a deal.

@Alan Pederson

Thanks for the info. Right now I am only considering deals that are closer to my area.

@Luciano A.

I got it. May as well work it like it is then. Thanks again!

@Jason D.

Thanks for the extra detail regarding the real cost...this helps!!

@Cody L. Thanks again! The offering price seem to have ignored the flood aspect, so will ‘hit’ it the way you’ve put it and see what I get. I appreciate your response.