All Forum Posts by: Frank Geiger

Some of your expenses look a little low like CAPEX and PM. You don't have insurance or lawn care. Doesn't look like a deal as it stands. Maybe it will as a flip?

Cleaning fee should only be implemented based on the condition of the property at move out. Put it in your lease. You can deduct from the security deposit 

Congrats on your success. What are the rents/ROI for that ADU and how do they compare to a typical 2 Bed house?

Most Realtors will want you to get pre-approved upfront to ensure they aren't wasting their time with someone who can't get a mortgage. They don't care who you close with come time to buy. 

Why don't you start using the cash flow from the 60% to pay off the 40%? You will get hit with a big tax bill and you are mentioning scaling up again.

I think you answer your own question. If you only want 5 properties, I think you should buy all 5 then start to pay them off. It's easier to scale/pay down mortgages the more properties you have cash flowing. 

You limit your exposure to vacancy (effecting your livelihood) the more properties you have. Mortgage pay down is a huge benefit when tenants pay for your equity.

There are tons of different jobs you can get in real estate. What do you mean by "deal with rental property"? Do you want to buy them, fix them up, or manage them?

Your new layout looks good. Is that the only bathroom? What about a tiled out shower?

Get rid of that high interest CC debt asap. Hopefully, you weren't one of those Soldiers who was taken advantage of by the car salesman with a high interest car loan. My advice is to pay it off too if higher than 4%-6%. You can elect to pay the minimums if you can get a better ROI somewhere else.

A "good deal" is based on the person. This may be awesome for you and your area, but the returns aren't good enough for me. 

What kind of financing are you using? HM? Cash?

You can potentially get into the property for next to nothing but I doubt you'll have any cash flow after any debt service. It largely depends on the property taxes, any HOAs, and insurance costs.