All Forum Posts by: Joel Rosenthal

Hey guys, I am getting ahead of myself a tad but have an inspection tomorrow on a house outside of Metro Detroit. I’ve picked a location between my work and my house for convenience and it’s by a hospital in the area.

The price agreed is 100k, there will be some work to do but overall minor stuff and am budgeting around 3k.

I was talking to someone about this and they told me they are stern on the 2% rule, which I’m way off based on 100k purchase, 20% down and rent conservative at 850.

Cap rate is showing right at 7% and net free cash flow just under $200. What am I missing or looking past in terms of figures?

@Greg Scott can you please send me more details on this please

I am just getting my feet wet but would love to have the opportunity to network with anyone and everyone haha 

@Kenneth White each bank is going to be a bit different. Most will want to see your track record with them in terms of deposits and revenue for typically 6 months. I work for a business lending company and we provide financing as well. This is they same structure for most of the lenders and banks out there.

@Jamiel Strickland sorry to hijack the thread. Can you tell me some more info about those meetings?

@Paolo Ruggieri I actually work in the space and am a direct lender myself. I work for a direct competitor of Kabbage. If you have some time this week let me know and I’ll reach out no pressure or push just trying to help.

Been in the industry for 3.5 years and am new here so just trying to provide some services to the community I do know about

@Delaney Cargo I’m sure others will be chiming in. For me personally, I want to make sure I am within a close distance to the property especially while I am learning the ropes. I too am looking to get my first property within the next 6 months.

Hey, I’d love to learn more about it and the area it is in. I work and live in the area 

Have you looked into the chain of lakes right by you? I have a friend who has a rental there and has tons of success because you will still get U of M tailgaters even into the colder months 

This is the one item I’ve been searching for as I am on the border of investing into real estate but with the yield curve forecast have been nervous. A few people I know doing real estate have told me to wait it out. That being said I understand if math makes sense math makes sense. 

The hurdle I’m having with the recession will occupancy issues increase in a recession?