All Forum Posts by: Ken Wang

Dear RE investor fellow,

Have you used joinreal.com ( to place tenant)? How do you like the service? I was offered by an agent for the following service. Please private message me if it's OK.

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Service Referral Option advertise your property in all of the media sources available. When we have an interested renter, I will lightly screen the renter to be sure they are a good fit. Then, we will call you to book an appointment for you to show the renter your place, after the showing I will follow up with the client to get any feed back or see if they would like to move forward with the unit. If it's our renter submits an application and is accepted we would get paid once the lease is signed and money is paid. With this option I ask for a HALF MONTHS RENT as my fee.

Full Rental Service Option, this option is were I handle EVERYTHING! I would aggressively market and advertise your property, do all the showings, collect deposits, perform credit checks and background checks, coordinate lease signing, and hand over the final package to you for final approval. The fee for this service is ONE MONTHS RENT. .

Both services are completely Non-Exclusive, so if you found a renter before we did, you wouldn't owe us a penny. 

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Ken 

Thank you @Account Closed I book marked the website ! Enjoy the rest of long weekend :)

@Account Closed , like your response, could you share the link for your real estate auctions? thx! Ken 

@Ozzy Sirimsi and @Evan Roberts thanks for the suggestion. The property was well maintained by the 1st owner, although the style is a bit updated but in OK condition with a few updates. The $5000 is mainly for cosmetic fix, but will keep your advice in mind. These are good suggestions, Sincerely, Ken :) 

@Stephanie Potter

Thanks, that's very useful tip, definitely will look into it!

Ken

@Eric H. appreciate your opinion. Yes, BRRRR is one strategy I am interested in. I am still new to the rehab process so don't have enough knowledge yet to estimate the rehab cost as well as understanding the whole process. If there is a good opportunity to learn or partner with someone, will be happy to :)

Dear Investors, 

  Here is the deal I am seeking the opinion.  

Row House in zip code '21239' in Idlewood community, Baltimore : 3 bed/1.5 bath

Trulia data: low crime rate

Age: 1953

Asking price ~ $120k

Proposed offer price: $90k

Roof & gutter: 2010

HVAC > 20 yrs

Hot water heater: recent

Plumbing: copper 

Closing cost: 7k

Repairs and MISC costs: $5k (Paint, lead certificate, patio fix, rental registration, cleaning, and unexpected cost)

Down payment: 20% (30 yrs, investment loan)

Loan rate: 5% 

Rent total: $1400 (below rentometer average, and I have checked recent listing as well) 

P&I: $387/mo

Taxes: $198/mo

Insurance: $50/mo

Lawn care: $40/mo

Ground rent: $8/mo

Vacancy: 8.3%  (1 month vacancy/yr)

CapEx: 18% (for this > 50 yrs old house)

Property Management: 10%

Cash flow: $210/mo

total cash need: 30k

Cash on cash: 8.4%

I have a few specific questions and would like to learn from you guys;

1. I have done my homework but would like to ask if I am being too conservative. 

2. Related to the 1st question, I have been searching rental property for a while in Baltimore city and close to west side of Baltimore County.  It seems difficult to see > 8% cash on cash return after considering all the expense, neighborhood, property condition and potential tenant category. After all, for this property, I can only get $210 monthly cashflow. I am wondering am I not looking hard enough or it is normal for Baltimore or surrounding market these days? I am not looking for low-value property but in a reasonable neighborhood to get a steady income. 

Any comment/critique is welcomed! Appreciate your time to read this list.

Sincerely,

Ken 

@Joseph Abad sure will do

 Thanks Kyle, no worry：）