All Forum Posts by: Jay Helms

Have you ever partnered with your lawyer on a deal? I recently listened to Show3 (again) and what impressed upon me the most this time around: focus more on raising capital. Thinking down that path, I convinced myself that my lawyer has shown interest in what I'm doing, maybe a potential investment partner. Have any of you partnered with your lawyer on a deal? If so, how did it go?

Show 3: https://www.biggerpockets.com/renewsblog/2013/01/31/raising-money-getting-started/ - awesome to hear how @Joshua Dorkin & @Brandon Turner have grown in their podcast.

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I recently received noticed that Intuit is sunsetting their IPN product. This was great as it costs only $0.50 per transaction. They've "invited" me to choose one of their other products and Simple Start is the most basic @ $6.95/month. I have less than a handful of rentals we manage our selves so our needs in collecting rent are very basic (online & inexpensive). What other vendors are you guys using for online rent collection?

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I'm under contract for a duplex in Gulf Breeze, FL that needs some minor work. Any recommendations for a handy man or lawn care guy in that area?

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Hot topic here on BP is the validity of $30k properties. I have one that is a cash-cow and wish I had 1,000 just like it. I've heard $30k properties referred to as pigs, hence PigCow. My question is this, for those of you who have a $30k PigCow in your portfolio, do you carry insurance on it? Assuming this is an elective option for you, would you ever consider it and why/why not? At what levels do your maintenance & capital expense funds have to reach before eliminating the monthly costs of insurance?

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Originally posted by @Jared Irby:

@Jay Helms It's a very sizable job and funds are already raised to do the work.

Sent you a PM with contact info. Let me know how it turns out.

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Originally posted by @Jared Irby:

I am helping an HOA at a townhouse complex on Perdido Key find a siding contractor or a general contractor to replace Hardi siding. Any recommendations are gladly appreciated!

I can introduce you to my GC, but he won't do it unless it is a sizable job. Any other specifics you can offer?

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Originally posted by @Daniel Ahern:

Congrats on getting into action. I'm inspired and one step behind ya!!

Best of luck!

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Originally posted by @Brett Kash:

I plug your place into my personal spreadsheet and I come up with cashflow of $323 based on the straight list price with the following assumptions:

Expenses = $775 (my formula calculates this higher but that's a personal preference for a safety net)

Tax = $3000 annual

30 yr mortgage at 5% apr and 20% down

Rent = $1700/mo

Thanks for the reply Brett.

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Originally posted by @Joshua Pavao:

is less than $100 per door common in your area? I'm genuinely curios why most are referring to the 2% rule being met but I personally still wouldn't be content with the cash flow, which I understand mat vary market to market

Isn't the 2% rule just a guide and not necessarily a valuation? Maybe you can find room here to lower your expenses if you dive into this more..

Thanks for the reply Joshua. Although part of my analysis, I'm focused more on cash flow than I am the 1 or 2% rule. The goal is $200/unit in cash flow. I'm hoping to add the first multi to our portfolio this year but is $200/unit unrealistic on a multi?

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All Forum Posts by: Jay Helms

Jay Helms has started 176 posts and replied 1468 times.

Post: Property managers Pensacola

Post: Partner with your Lawyer?

Post: Online Bill Pay

Post: Handyman needed in Gulf Breeze

Post: Insurance on your $30k PigCow?

Post: Siding contractor Orange Beach Alabama / Pensacola Florida

Post: Siding contractor Orange Beach Alabama / Pensacola Florida

Post: First offer on a multi...

Post: First offer on a multi...

Post: First offer on a multi...