All Forum Posts by: Cassidy Adams

Brandon Roth,

These are similar to the projections I had based on the information that was given. Thank you for taking the time to run the numbers and correct me where I was confused based on the percentages.

Cassidy

Simon Campbell,

Thank you for taking the time to run those numbers and make that clear for me. For some reason I felt like everytime I did it they were off, which they were and I now know where I was off. Based on what you just showed me, would you buy this property as a somewhat new investor?

Cassidy

Simon Campbell,

Thank You Simon Campbell,

Based on the current numbers I have attained, the gross income will be approximately $56,400 annually, After all expenses including utilities, PM, and taxes, I will be right around $36,000 before principal interest and insurance of course. On a $260,000 property mortgage and interest should be no more than $1800 depending on the financing. Which should put me in the ball park to cover the repairs and maintenance, as well as capital reserves and still make a decent profit correct?

Cassidy

David Beard,

That is 7% of the asking price, I have not tried to negotiate a lower price at this point in time.

Shawn Sorter Thank You for your advice, I'll be looking more in depth in the coming days as I continue to do my homework..

Thanks
Cassidy

David Beard,

-No I have a full time job as well as an income producing property.
-My goal is within 18 months to be able to go through a traditional lender.
-I have owned in 2 years as of August 14.
-As For saving for 6 Months of PITI I can put down approximately 7% and counting!!

Thanks,
Cassidy

@Deborah b,

Great blog post, and thank you for the insight. I will be sitting down and re-running the numbers as well as finding the best PM in the area to make sure all the tenants are happy living there!!

Thank you,
Cassidy

Shawn Sorter I have not found an agent nor a PM I am just speculating at this point.

Thank You @Simon Campbell for your feedback!!

I have already accounted for the 10% for a property manager as well as 5% for minor expenses. I have used trulia and Zillow to find out about what fair market price could be, but an appraisal and home inspections will be done on all four properties before the transaction is complete and Thank you for the insight on the financing!!

Cassidy