All Forum Posts by: Joshua Mckee

Of course they are in low income neighborhoods. Cashflow with 50% rule of thumb would be $400-600/mo. I intend on buy and hold, but if I can get them down to $33k/house I could sell them for $40-50k/house. Taxes are around $2000/house. ROI is 10-20% conservatively. I myself am a carpet cleaner, and I have a brother who is electrian/plumber/construction and a brother who is in landscaping so repairs for me would be cheap. Anything else I left out?

Found a seller with three single family homes he is selling for $120,000. Agent told me can probably get them down to $100,000. The rent for all three of them is $2350 ($750, $750, $850) and the $850 is rented already. What do you guys think? And things i should look for?

I looked at three today myself

Thanks to all that responded. I am putting everything I can to be an investor. Thank you for all the knowledge you gave me!

Anyone in the Amarillo area with rental property knowledge willing to have a coffee, drink, or meal paid for by me?

I am very new to this site. I work a full time job and own a carpet cleaning business. Looking to dive into real estate now. I have decided multifamily is my way. I will provide value to everyone.

Being a first time buyer, i have found a duplex. It is in a rougher area and needs a little work. I imagine i could get them from their asking price of $38k to $28-30k. If i put $10k in it I could easily sell for $50-60k, in my own estimations. The realtor says the units stay rented but I know they are trying to sell them. My first question is getting a loan with $10k for improvements possible? My second question is being a totally naive investor, what would a $40k mortgage be with expenses?