All Forum Posts by: Jay Yoo

If you are looking for a mentor, don't expect a mentor to come to you but reach out to local investors in the market you are considering, and I suggest you to reach out to them to see what you can be valuable to them. No one will come to you to mentor you for free but they will show interest if they find you a valuable asset. 

@Alexander Szikla hi Alexander. I agree. Almost made an offer but I think doing a good deal brrrr now is more important to me to learn the process for inexperienced investors like me. I put more value to the learning curve for now. Thanks for your reply. 
Merry Christmas 

@Joshua Haynes Thank you Joshah. My goal is now to build a portfolio and being able to cash out refi after 6 months. So I can repeat.

Since this isn’t a brrrr deal, more like turnkey but some to fix down the road, I think I should pass this deal to avoid bug tickets item because I can’t add value until tenants move out. Then eventually I will have to have only one tenant assuming the lease term is different each other. Then significantly cash flow will be reduced until I will be able to rehab.

Good deal but I will pass this one. Especially making an offer prior to having anyone “boots on the ground” checking out the properties. My agent said I need to rush because there is another offer so we can do this during the inspection. I dont know if I can take that as inexperienced out of state investor and I dont think it’s wise to skip my due diligence to make my offer accepted.

Anyway thank you for your reply!

Hi All, 

I was wondering if you could take look at the below and let me know if numbers make sense to pull a trigger. 

Thank you,

Property type: Duplex

Asking price: $110k

Offering Price: $95k

Comps: $129k-$160k

Vacancy: 4% on census, multiple diversified employers, City's big development plan

Tenants occupied: rents 15%-20% lower than nearby

Cosmetic rehab needed but not planning to do this now. no details yet on full inspection at this time.

Cash offer

No rehab at acquisition

--------------------------------

Monthly Income

Income: $1348  (Unit A: $575, B:$615, Water utilities (sub-metered): $140)

Yearly Income: $16,176

----------------------------

Monthly Expense:

-Repair/ Matinenance 7% : $94

-Vacancy : 8%: $108

-Capital Ex 7%: $94

-PM fee: 1st month charge, 7%, no renew fee

-Property Tax: $98

-Insurance: $83

-Water utilities: $140

- Accounting and Legal: $40

Total Monthly Expense: $753, Yearly $9,038

NOI: $7,138

Cash Flow: $595  

CoC ROI Yearly: 7.5%

Thank you! Let me know what other factors would need for your review! 

@Mark Ainley Thank you Mark. Already connected!

@Jacob Fullerton Thank you Jacob for the tip based on referrals! Have you heard REI Nation?

@Timothy Lewis Thank you Tim! I will chk them out.

Hello, I would like to connect with Property management services in Memphis TN. Please reply if any investors have a good experience with a good property manager who is also investing him/herself in Memphis. Thank you

@Michael Plaks

Thanks Michael. So many terms in a very short time from book, hopefully I will get there as well. Thanks!

@Michael Plaks

Thank you Michael. 
this is just an example for me to understand.  $10k invested means $10k was the downpayment amount when purchased. Non owner living and rental purposes only. 

So basically capital gains will be charged when sold price is higher than the purchase price. No matter how much you invested or how much you have the mortgage to pay off. 
thanks!