All Forum Posts by: Krishnarine Hardyal
Krishnarine Hardyal has started 8 posts and replied 36 times.
Post: Looking for Hard Money
- Investor
- Queens, NY
- Posts 40
- Votes 9
Sure let me know so we can get started
Post: Looking for Hard Money
- Investor
- Queens, NY
- Posts 40
- Votes 9
Looking for hard money private money peer to peer loan since my credit score not great looking for 90 to 100k I have multiple investment properties own free and clear and fully rented please let me know asap thank you
Post: Looking for Hard Money
- Investor
- Queens, NY
- Posts 40
- Votes 9
Looking for hard money private money peer to peer loan since my credit score not great looking for 90 to 100k I have multiple investment properties own free and clear and fully rented please let me know asap thank you
Post: Looking For Hard Money
- Investor
- Queens, NY
- Posts 40
- Votes 9
Looking for a hard money, private money or peer to peer loan as credit score not that great have multiple investment properties which are free and clear only looking for 100k cash or refi or bridge loan
Post: Advice On Small Commercial Financing
- Investor
- Queens, NY
- Posts 40
- Votes 9
I agree with Charles best to contact local funding because with that loan amount a lot will tell you is too small amount even some HML won't do it cause amount too small unless you taking out at least 65% to 80% but gl hope it works out for you
Post: Aggressive Rentals Possible?
- Investor
- Queens, NY
- Posts 40
- Votes 9
Originally posted by @Brandon Tilson:
@Krishnarine Hardyal if your number are right. You need to buy as many as you can now.
For the most part the numbers and everything else is correct that I said I'm just waiting to sell my home and move up there hopefully by the end of this year beginning of next year 🤞
Post: Aggressive Rentals Possible?
- Investor
- Queens, NY
- Posts 40
- Votes 9
Originally posted by @Andrew Kougl:
@Krishnarine Hardyal
So you are buying a duplex for $80k and you are expecting it to have gross rents of $1500 ($750 a side)? Are these in high crime neighborhoods? That return is quite high with a 1.875 price to rent ratio. Usually properties in this range are in pretty rough areas where rent collection can be challenging.
No there not in high crime area the 80k rent is 600/650 each apt so 1200/1300 monthly...I try to stay away from those areas of high to middle crime area
Post: Aggressive Rentals Possible?
- Investor
- Queens, NY
- Posts 40
- Votes 9
Originally posted by @Matthew Irish-Jones:
@Krishnarine Hardyal
You can expect an 8% cash on cash return or there about on average. When I subtract fees for closing, lender fees, inspections, deals you don’t get but waste money on, value adds, up front Cap Ex expenses, and reserves you end up with around 1 million. After subtracting for delinquency, vacancy and other normal costs to manager real estate… you are left with your 6-8K per month cash flow.
Would love 6-8k cash flow per month and thats actually my goal to have at least 5k cash flow per month
Post: Aggressive Rentals Possible?
- Investor
- Queens, NY
- Posts 40
- Votes 9
Originally posted by @Brandon Tilson:
@Krishnarine Hardyal because you are confusing the term cash flow with total income you are bringing in from your rentals. For each unit that you are receiving $750 a month you would be lucky to cash flow $100 of that. So that 500$ a month. He is the what is use.
Taxes 158
Insurance 120
Vacancy 50
Repair 50
Capexp 50
Water tenent pays
Sewer tenet pays
Garbage tenet pays
Electric tenent pays
Snow removal tenent pays
Lawn care tenet pays
Property management 0
Mortgage 100k
20% down 20k
Mortgage per month 348
Pmi 0
Cash flow per year 2688
Investment 20k down + closing cost 3k = 23k
CocRoI 11.68% @1k
16% @1100
21.25% @1200
Sorry I should of clarity a little more those properties are all 2fam or duplex each floor apt rents for 600 to 900 for example the 75k property income is 1300 and after expenses of let's say which would be only mortgage payments of 750 which includes taxes and insurance have a cash flow of 550 a month and this is just one of the property I'm looking at hope it clears up any confusion all the properties are duplex or triplex
Post: Aggressive Rentals Possible?
- Investor
- Queens, NY
- Posts 40
- Votes 9
Originally posted by @Matthew Irish-Jones:
@Krishnarine Hardyal yes as long as you have 1.2 million in Capital.
Why do think I would need 1.2 million in capital? Most of deals I found the house are in the 70k to 150k range and rents are $600 to $900 monthly range so I don't I'll need so much capital let's figure average price is 80k which would be 16k down finance the rest assuming I bought 5 properties that would be 80k down for the 5 properties and let's assume each property cash flows for $750 monthly times 5 equals 3750 monthly and thats only 5 doors with 80k down...which I did all paper work already and analysis too so don't think I need 1.2 million..but let me know