All Forum Posts by: John Clark
John Clark has started 5 posts and replied 1537 times.
Post: Myrtle Beach Condo inspection: 24% moisture in walls??
- Posts 1,572
- Votes 1,252
Seller’s agent is out of his mind thinking that you and your inspector are stupid enough to fall for his guff. You did the right thing, and this goes into my why-r-e-agents-are-scum file.
Post: All NEGATIVE cashflow when analyzing trying to buy my FIRST deal - WHY???
- Posts 1,572
- Votes 1,252
Quote from @Carissa Atendido:
I've been using the BP Rental Calculator and BiggerDeals to analyze potential properties for my first investment, but I'm running into a consistent issue — most of the properties I look at are showing negative monthly cash flow and really low COC returns.
I’m wondering: am I doing something wrong in my analysis, or is it just that good deals are really hard to come by in the current market?
Here are the assumptions I’m using (are these too conservative?):
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5% for maintenance & repairs
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5% for vacancy
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5% for capex
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10% for property management
My target price is $300K or below, and I’ve been looking in Nashville, Austin, Dallas, and Atlanta. I realize that’s a wide range of markets, but I’m trying to run as many deal analyses as possible to learn what works and what doesn’t.
For those with more experience:
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Do these numbers seem reasonable?
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Is it normal to see mostly negative cash flow deals, or should I be tweaking my filters?
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Any tips for spotting better opportunities?
Thanks in advance — I really appreciate any feedback!
Carissa
Quote from @Jesus Sanchez:
Hi,
My wife and i are looking at a duplex in Rivesrise county. The current rents are way below market. We plan to rennovate the units and get new tenants at market rent. The current tenants are on MTM. if we give a 60 day notice at close of escrow will that be in copliance with CA statewide rent control?
thank you
Post: Investor Friendly Title Co.
- Posts 1,572
- Votes 1,252
Quote from @Marquez Cadet:
Does anyone know of some investor friendly title companies in Philadelphia, PA?
I am always mystified by these requests for “investor friendly title companies.” What exactly are you looking for? You don’t (or shouldn’t) want a company that will compromise title standards.
So what is an investor friendly vice unfriendly title company?
Post: Not COVERED - TITLE Insurance issue- THOUGHTS appreciated to remedy
- Posts 1,572
- Votes 1,252
Sue the guy who forged the deeds and sold? Particularly if the buyer communicated his intentions to develop the land? Added to that would be any seller representation about buildability and such.
Post: Nine bears ?
- Posts 1,572
- Votes 1,252
Quote from @Andrew Steffens:
well - I just removed a 5.5 foot gator from my backyard (juvenile) - not sure what is worse?
Q: what’s the difference between a Florida woman and an alligator?
A: you can date the alligator.
Post: A masterclass to help landlords win in court without the expense of a lawyer
- Posts 1,572
- Votes 1,252
Quote from @James McGovern:
Many landlords fear the court system and piss away a lot of money to lawyers. I am thinking about organizing a master class to guide landlords in bringing their own evictions and small claims cases to court without using a lawyer .
would this be worthwhile?
Post: Are Hard money lenders making more money off flipping than the flippers themselve?
- Posts 1,572
- Votes 1,252
Quote from @James McGovern:
At a recent meetup, I heard several individuals complain that hard money lenders are making more profit than they are. It is easy to respond that they are not purchasing the property at an extreme enough discount but think there is more at play than that
Why do you ask, and why do you care?
If you want to get into what is 'just"and "Equitable"for you, then we have to allow everyone else get into what is "just" and "equitable"for them -- that includes tenants. You are no more entitled to an "egqitable" deal than a tenant is -- nor are your fellow investors.
Your question -- and the questions of those who asked/mentioned to you -- bespeaks a sense of entitlement and economic ignorance.
Gawd I want to hear the replies -- I so want to rip some new ones on some supposed economic "free marketeers" on this.
Post: Wholesaler laws becoming formalized and regulated its starting here in Oregon
- Posts 1,572
- Votes 1,252
Quote from @Don Konipol:
This whole bag of craziness can be avoided by just having a regulation that residential property sellers MUST be represented by an attorney.
How is that NOT an excessive, unnecessary, and paternalistic, government regulation, Don?
Post: Quadruplex in Indy - $58k in repairs. Seller offers only $12.5k in price reduction.
- Posts 1,572
- Votes 1,252
You want a 58k reduction for repairs and he wants to give 12.5k. You can run the numbers or ask what numbers you’re missing. You asked . People answered. So run the numbers.