All Forum Posts by: Grant Scott

@Jim Hartmann I work for Time Equities as my day job and we are currently looking at commercial paper across all asset classes (except hotels). We would consider retail but it would have to be at a significant discount depending on the durability of the income. Please reach out if you would like to connect.

@Zach Quick - To clarify, this is a vacant property right now, but it will conservatively rent at $5400/month after repairs. Taxes shouldn't change.

Property is vacant right now, the total rent of $5400 is conservative based of a market comps, realistically it will probably rent out close to $6000 a month. Not 100% confident on ARV but am meeting with a broker this weekend to discuss further, there aren't great recent sales comps to go off of in the area but it is a good ballpark until then.

Hi BP,

I am looking to purchase my first rental property. It is a 9 bedroom, 3 bath, tri-plex. Each unit is 3/1. Property was foreclosed on and is listed at $290k by the bank. Numbers are below:

Asking: $290K

Repairs needed: $115k

ARV: $450k

Total rent: $5400/month

Taxes: $625/month

Utilities: Separate meters -  tenants pay

How much would you pay for the property? Is it a goo deal with the current numbers.

Thanks for the help,

Grant Scott

Hi BP,

I'm new to real estate and live in a very expensive part of the country and am trying to find a strategy that works here. My question is, does the 50% rule apply to high end rentals or is there more flexibility since repairs shouldn't cost the same proportionately?

Ex.) Property purchased for $700k, rents for $4500.

Taxes- $6800/yr

The 50% rule would assume $2250/month in expenses or $27,000 a year which seems very high.

Would love any thoughts or feedback.

Thanks,

Grant