All Forum Posts by: Ruei-Jiun H.

Thanks @Andrew Syrios, you are right. I should also check their credit, I assume my PM will do that. Do you do at least 620? 

@Joel Wilmoth, the penalties for late payment is $150, but they haven't paid yet. I bought this property through a turkey provider, so they place the tenant (They are also my PM now.)

My tenant has 6 years job history on the current job, income is 3x of the rent. 

@Andrew Kougl, My property is in Indy Franklin township. I just start investing this year. Look like it's not normal paying late in any market.

Thanks @Andrew Syrios , @Daniel P. for your inputs. 

My tenants' income is 3 times more than their rent.  No eviction record. Can you suggest some tight criteria? Thanks!

Hi all,

My tenants in Indy start to pay rent late after 3 months moving in. The house is in a decent area, rent for $1100. My property manger told me among the houses she manages, there is about 25% late rent payment. I am wondering if this is normal in the Indy market or the issue with this particular property manager. Please help! Thank you!

 Can you please share your experience with T&H Realty? How long you have been using them? I am purchasing a house from Turkey company in Indy. Their direct PM is Zuluscape. I don't find they are very responsive to my email. Thanks!

Great! Thank you, Kevin!

Hi everyone,

I am an out of state investor, primarily buying single family house from turnkey company. I came across Torcana, it looks like most of the property have 1% RV ratio? They are in the Tampa, FL market. Does anyone have any experience with them? 

Thanks,

RJ

Thanks Scott, Kevin and Jerry's feedback - and thanks for pointing out it doesn't help to reach my goal.

I have another question about budget CapEx. Is 10% of monthly rent reasonable for the single family house? What number is reasonable?

Thank you very much!

Hi folk,

Thank you very much for your time to read and comment.

After listening to the BiggerPockets podcast for 6 months, I am very excited to get involved in real estate to build my freedom number. My goal is to get $150-$200 cash flow per unit. I have a full time Job, so I am buying properties from the turnkey company out of states. 

Here is the number. It's a single family house, built in 1986, 3 beds, 2 baths,1 car garage, 1330 sqft, located on B neighborhood. Rehab is done; cost $29K.

- Purchase price: $91,900 

- downpayment: $18,380 (20%)

- Rental income: $10,740 annual ($895 per month), It's tenant occupied now. Lease is two       years.

- Annual expense estimate: $10,008

• 5% vacancy -  $537
• Property Taxes - $1,190 
• Insurance - $430
• 5% Maintenance Reserve - $537
• 10% CapEx - $1,074 (This is based on the assumption that extensive rehab costs ~$30k and lasts for 30 yrs. But I am not sure if this is right)
• 14% property management -$1,504 (The PM is 10%, but they charge 1 month fee to screen tenants. I factor in that they got new tenant every 2 yrs. Based on this, the PM per month can be up to 14%)
• $4736 mortgage (30 years @ 5% fixed)

- Cash Flow: $732/yr - $61/mo (if budget CapEx), $1806/yr - $ 150/mo (if didn't budget CapEx, because they spent $29k to rehab to property.)

- Cash on cash: 3.5% (if budget CapEx), 8.5% (if not budget CapEx, but remains 5% maintenance)

Is it a good deal from a turkey company? At what price would you buy? I am still not sure how much CapEx I should budget.

Thank you very much again for taking time to read and feedback.

 Yes, I did although it took times to reach them.