All Forum Posts by: Savannah Leigh

If the estate is in agreement...the executor may be able to simply let you take over payments/sublease it. The agreement simply says that you are responsible for paying off the note and any profits you get to keep.

a title co can probably do it pretty easy

im looking for deals like tmyself. selfn

My wife and I want to start buying out that way and relocate to lake w or north Conway within 2.Yrsa.

i had a huge flat roof that was done. time to replace.

we fortunately had a bad storm after the contractor bid it but before work began

insurance paid 25 percent of it plus some interior repairs...about half the roof cost

without the storm damage 9tree branch0...no insurance help. 25k from me

since you are friends...making an extra clear agreement is key to not losing that.

make sure it is spelled out how big repairs are funded if they outstrip the reserve, for instance

what happens if she has to invest more to cover them? if you do/

contingencies are unlikely, but thinking ahead avoids arguments

proptrends comes close. it uses the idx data that backs up mls

also proptrends gives trending, cash buyer lists, tenant/buyer income averages and trends and a bunch more stuff

700 or so for software and 300/mo

Sure. It's a simple formula I made up that seems to work..it will leave you out of other bigger markets. for those, it's a gut call

i don't proscribe to the (successful, but ... not mine yet) strategy that cash flow is Net Operating Income (NOI)

I see cash flow as what's left when it's all taken out. Like:

rent
-30% rent for maintenance and vacancy pad (until a STRONG savings is built. then use it to buy another unit, and start over)

-10% rent for management. Whether you do the work or hire it...someone should get paid

-taxes, insurance, utilities, sewer, whatever the landlord pays.

-$100 per month per unit for profit. THIS MAY BE YOUR ONLY REAL CASH FLOW FOR A WHILE.

=balance tells you how much the mortgage payment/interest is.

use mortgagecalculator.org ( I enter 6.5% 20 yrs.) to find out the mortgage.

this is your max value. Yes, most mortgages call for 20% down payment. that 20% is your safety

take max value, minus repairs needed. gives you current value of the home

in rentals. Comps dont matter to me. Income

Yep. I'm doing a full rehab myself now because code officer wants to bust bunnies. Said I can't have help or he revokesspermit

i hear your pain...

5 years in...i can do it all...and sometimes do.

i want to do less, because i will make more.

but if i knew how to do less, i would make less, because i would get overcharged or have work done in a less efficient way.

its a balance

when i have no deals 9working on never having none) i may as well do my own work because otherwise i am paying out and not making.

its a balance. im bad at balance lol

welcome. i look forward to learning about the br market. i do wholesaling a bit...anywhere and have 30 rent for holds

Yeah the local taxes are going up 30% a year in the 'cities'.scranton/wb

smaller places not smuch plains twp actually dropped theirs.

but.I can buy rentals for 20k finished price and rent f. To 700/mo

not much on high end flips. I gotta go of area for that

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