All Forum Posts by: James Clark

@Mike O.

Are you looking to whole sell this?

Its legal here in S.D. I bugged the comm over and over and they finally said as long I have interest in the property and not for other people

@Jon Huber

would you guys tag me in for the next one? I just missed this one. Thanks

https://www.biggerpockets.com/calculators/shared/177132/d1a87fff-7c7f-4cba-bf5c-7c53517e67fc

This is a great buy for cashflow. Apt #1 is a efficiency which well be rented out here in a week or so. 

Apt #2 has been living there for over 15 years and is on housing.

Apt #3 has been there for a short time of 1 1/2 months and is on housing

Apt #4 has been there for over 1 year 

The apartments do not last long vacant, there is more demand for low income housing in Sioux Falls.

The 4plex is valued at 139,000

Selling at 125,000 

Need anymore info message me, Thanks 

Monthly Income:

2,100

Monthly Expenses:

622.67

Monthly Cash Flow:

$1,477.33

Pro Forma Cap Rate:

%12.66

NOI:

$17,728.00

Total Cash Needed:

127,000

Cash on Cash ROI:

%13.96

Purchase Cap Rate:

%14.18

2 are housing and #1 Apt is a efficiency, which should be rented out here soon. they don't last long vacant. 2 of the tenants are long term.

Any of the apts can be housing, its a voucher program, so you can rent to any tenant with a housing voucher.

Looking for a cash buyer, thanks

@Kristina Dodson Dupree

1:

Forget about the MONEY. Its a hard concept but it's true. 

2:

Network Network Network. Its about who you know.

3:

The deal. If you found a good deal the money will come.

So what have you learned, 1 forget the money, 2 the more people you know the better, 3 how to look for deals and analyze a deal. 

@Joe Splitrock

Really?

I really have not found any neighborhoods i would not take a look at or be afraid to invest in. Most or if not all c neighborhoods here is Sioux Falls are mixed, and when I mean mixed you have a "gang member or a teen trying to be" that's renting or living with mom and dad, then you have a single family that's buying there first home in the same neighborhood. Then you have the registered sex offender , yes I would agree with you on that to a point. My sons school e-mailed us about someone that moved in or around in our neighborhood or close to our neighborhood that's a sex offender, a bad one like really bad. We live in a really really nice neighborhood on east madison St going to brandon. So I would not count out any neighborhood here in Sioux Falls, and after reading your post a couple of times maybe you was not just talking about sioux falls rather more  South Dakota all together. If thats the case disregard LOL. Happy new year everyone

@Corina Eufinger

Thanks for putting South Dakota in your post, its one on my keyword alerts. Like the topic, was wondering the same thing myself was looking to invest in Florida. Here in South Dakota we don't really have a gang land or war zone, which I thought it was a little funny that anyone would check out crime in S.D before getting a hotel :)