All Forum Posts by: Eyal Goren
Eyal Goren has started 15 posts and replied 46 times.
Hi,
I'm looking to BRRR my first property, and looking at properties in Sherman, TX.
Was wondering how does a healthy P&L look like?
My buy box is 3-1/2. For which I'm seeing the rent is around $1650/month, but with conservative numbers I'm not getting anywhere close to a $200 monthly profit - which is what I understand a healthy P&L should produce.
What am I missing?
In this scenario, the house will cost 150k, rehab 20k, refinance loan - after appraisal of 232k - will be around 151k @ 7.7% interest, for 30 years.
Thanks
Eyal
Post: New to out of state long term investing
- Investor
- Posts 47
- Votes 17
Quote from @Bob S.:
Quote from @Crystal Lo:
Hi there BiggerPockets community,
I currently reside in Los Angeles, CA. I'm interested in purchasing my 1st house out of state as a long term investment and would rent it out. My budget is $400,000 and can put 20% down. I'd also like to partner with a property manager since it'd be out of state. However, I'm stuck on what city to invest in. I'm considering Dallas, TX or Denver, CO, but I'm open to anywhere and want to do further evaluation. I'm not sure how to start my analysis process so I would love any advice and resources. Thanks in advance!
Not sure why you would consider those markets, not great returns, maybe 3- 4% net why bother and overpay in this market? With 100k you can get 3 in other markets that will cashflow much better. I have seen 100k all in rents 1300ish, values about 115k- 120k, not going to get those numbers in Dallas or Denver,
All the best
Post: How many deals do you scan before you lock in on a property?
- Investor
- Posts 47
- Votes 17
Quote from @Eliott Elias:
Why not make an offer on all of them with your desired number?
I agree with the approach in general - every asset have a price I'm wiling to buy it (?) - but it takes time to make an offer + I don't want my agent to do unnecessary work. Meaning, if my numbers are way off, say the gap between my offer to the asking price is 40%. In these cases, seems like it's a waste of time - or am I wrong?
Post: How many deals do you scan before you lock in on a property?
- Investor
- Posts 47
- Votes 17
I'm starting to scan for my first property and trying to understand the process. Zillow -> analyze -> offer -> repeat.
After how many properties that you scanned you feel like you're comfortable making an offer?
Post: New investor pricing out a rehab
- Investor
- Posts 47
- Votes 17
Will contractors be willing to take a trip to the property before we make an offer?
Post: Investors in Lubbock, TX?
- Investor
- Posts 47
- Votes 17
Hi all,
What are your thoughts about investing in Buy & Hold at Lubbock TX?
Would love to connect with investors in the area.
Best
Eyal