All Forum Posts by: Justin Manges

@Abby Weinstock I’ve never done this before… what exactly is a point?

@Alex Wise I plan on doing STR eventually but I will eat up all of the available conventional mortgages first, since most STRs esp in condos take a different type of loan anyway.

@Cody Duff I’m having trouble finding your Facebook group. What’s the name?

@Brian Deery oops sorry I just read the date on this

@Josh Pryor I’d like to participate in one of those

@Brian Deery where is it located?

@Alex Wise I was interested in this as well, but what I ended up finding was that the cost of managing one outside of my area was so high, (property management and turn over service) that I would be better off brrrring here for a little while.

I was looking in Florida and my down payment alone would’ve been $120k. That may have cash flowed a little better, but it would’ve slowed the rest of my investments to a crawl because I would’ve had all of my cash in one property.

That may not apply to you though, it’s just the conclusion I came to.

@Malcomb Stapel I was reading through this again and I’d like to clarify. Are you doin:

10% cap ex

10% maintenance

8% vacancy

7% property management

Then obviously your mortgage, taxes, and insurance?

@Brendan Miller that makes sense thank you

@Cody Neumann I see this a lot. What’s the difference between cap ex and repairs?