All Forum Posts by: Kyle Meath

Erica,

Yes, I checked them out, thank you. I just learned I didn't get the deal, but it was a 880 sq. ft. SFH that I was looking to flip. Thanks for your reply.

Kyle

Hello,

I have a deal on a property and I am looking for a local hard money lender that I can work with. Looking for any suggestions or referrals.

Thank you,

Kyle

@Ann Bellamy I will PM you the location. Tenants pay heat and hot water. The building is 80 years old, so I think you are correct in that my maintenance is low, I should probably figure at least 10%. Closing costs are also probably low, that item I estimated, as I am still in the process of analyzing the property.

Thank you for your input.

@Robert Adams Yes, I agree, thank you for the input, I will re-adjust my numbers.

@Shaun Reilly I do not have the actual numbers from my lender, that will be my first call tomorrow. I agree it seems to be low, thanks. Good idea, figuring the maintenance costs even though I will be handling it. Thank you for the info. It looks like I probably need to lower the purchase price in order for this property to work. Is there a minimum CoC that would make it a deal that is worth it?

Thank you all for your input.

Kyl

Hello,

This is my first property and I would like to get some input from all of you who are way more experienced than I am. I am looking to buy and hold for positive cash flow. I am a contractor so the repairs and maintenance I will be handling myself.

• Purchase Price: $195,000
• Closing Costs $3,000
• Down Payment(25%):$48,750
• Terms: 30 years 4.75%
• P and I: $763

• Rents: $2700, Annual: $32,400
• Vacancy(8.3%):$2700
• Prop. Taxes: $3,100
• Prop. Ins.: $1,800
• Repairs(Not Much Needed): $3,200
• Utilities(Water, Common areas electric): $1,500
• Maintenance(5%): $1620
• Lawn/Snow Removal: $1200

• Total Operating Expenses: $12,520
• Net Operating Income: $17,180
• Annual Debt Service: $9155
• Cash Flow: $8025
• Cap Rate: 9%
• CCR: 16%

Am I missing anything?

Thank you for your help.

Kyle

Thanks @Scott Demots . I am looking to supplement my income with some buy and hold properties. I have been looking at 3 families. How do you like the duplexes? Let me know.

Thanks,

Kyle

I just signed up after spending a few hours looking through this site. There is a ton of great information. I am a contractor in central MA and I am interested in investing in Real Estate. Mostly MF investing for positive cash flow. I am looking forward to learning from all of you.