All Forum Posts by: Jerry Gao

Thanks for the advice. It is tent paid utility. I pay water and garbage. It is in great area where I dont see a problem in getting quality tenets. I am hesitant because some speculate that the area will get hotter. Some say that it has peaked.

Is 6 cap generally ok? I will also get a break in financing.

This is not rent controlled. I do see your point regarding age but there are no houses here built in the last 50 years. Most in 1920 or 1950. Rarely 1970.

According to my numbers, this should cash flow $3600 a year. Which is better than what I have seen in these neighborhoods.

I'm not sure if that is worth the risk.

Hello guys. Potential deal here. Buffalo ny

200,000

3unit

Current market rent is 2100 monthly total.

Taxes 3300 annually.

Current condition unknown. Given that it doesn't need much work, how does it look? Going to look at it later.

800 insurance.

10% management fee

1400 annual utility

Escrow 1500 annual in repairs

Any input is greatly aappreciated

I actually thought about offering 125k today. Good thing I didn't. I actually got a text a couple hours ago from my agent that the property is under contract. I'm sure they payed for more than what I world have offered.

Aaron. Thanks. I realized that it is not a good deal. Especially confirming with a few people here. About funding,I should have no issue on that.

thanks. I didn't think of that

pi is about 525 monthly

20 percent down.

Hello all.

This is my first house. I read all the articles here and try to find properties close to it. Is this a good one?

2600 sqft double in buffalo ny

135,000

6 beds 2 bath (3/1 per unit)

Rents for 750 a month per unit.

2800 taxes

2 car garage. Good shape

All updated windows

Hard wood floors throughout. Need some minor refinishing

Furnace and water tanks all replaced in the last 3 years.

Stair case to the attic need some dry wall work.

New Ac upstairs unit

I'm thinking 2000 to refinish the floor and repair the wall. Then I can repaint myself. It should cash flow 3000-3500 a year if I do all of the management myself.

It follows the 50 percent rule, but doesn't even come close to the 2 percent rule. What do you guys think?