All Forum Posts by: Account Closed

So I'm a newbie investor and I've been searching for SFHs to start my portfolio base. The market right now is a racket and extremely difficult to win bids or get deals (unless paying cash of course). What are your thoughts on offering a bit high to get a solid house with minor upgrades needed? This house is currently assessed at 82k, i offered asking at 106k with 2% concessions. It's a smaller but solid SFH (1000sqft) in Rochester, NY which could get 1200-1300/mo. Cashflowing 300-400/mo. So the numbers still make sense I think, but feel nervous that I outbid myself.

Matthew Drouin, so my projected income is $1,300 gross rent. Expenses projected about $850/mo. Initial cost estimate of $24,000. Purchase price is $95,000. Will maintain and manage property myself. 

Martin Grizzanti, I am in the process of purchasing the property (late June), contingent on seller finding a home. Very minimal repairs need to be done. Its in town of Greece near Stone and Dewey area (if you know Davie's Seafood). Its a very solid house and will cash flow probably $300-500.. my one concern is that i paid above its current assessed value. I don't personally see that as a deal breaker, but many investors do.

Hello all, I am in the process of purchasing my 2nd single-family rental property in Rochester, NY. So I am still very new to investing, and also very excited. This is a solid house with very little work to do; 3 bedrooms; 1,010 sq. ft., finished basement, and should be able to rent for $1200-1300/mo. (I believe). I'm putting 20% down on $97k purchase price. I will be managing and maintaining the property myself (I'm a facilities maintenance tech). So I figure about $350-450 cashflow after putting about $25,000 it down should give me 18% COC. It all seems solid to me but I am looking for a more seasoned pro to help with analysis. So if anyone would like to help me analyze this property that would be awesome!

Hello all, I am in the process of purchasing my 2nd single-family rental property in Rochester, NY. So I am still very new to investing, and also very excited. This is a solid house with very little work to do; 3 bedrooms; 1,010 sq. ft., finished basement, and should be able to rent for $1200-1300/mo. (I believe). I'm putting 20% down on $97k purchase price. I will be managing and maintaining the property myself (I'm a facilities maintenance tech). So I figure about $350-450 cashflow after putting about $25,000 it down should give me 18% COC. It all seems solid to me but I am looking for a more seasoned pro to help with analysis. So if anyone would like to help me analyze this property that would be awesome!

Hello all, new investor and I've got a question about location. I came across a SFH in Rochester, NY. The city school district is not good, and this particular house is actually located directly across the street from the entrance to a Bausch & Lomb factory. That said, the house itself is very solid 4/2, $84k, low taxes, and I figure I could easily get a B&L employee to rent it out around $1250/mo. Just looking at it and figured I would ask what the pros think about this type of location?

Asking for parents and curious myself. They have a vacant rental SFH after a lengthy and expensive eviction. They finally, after 2 months now, found a seemingly fine candidate. However, the woman is asking if she can pay the deposit in increments, instead of in full up front? They told her no, needs to be up front... but I am wondering what others think about this? I would say absolutely not, I have never heard of such a thing, do others allow this?