All Forum Posts by: Lauren Apicella

@Kyle Cabral thanks for the input!

@Bill Jacobsen I forgot to add that was including a 1 month vacancy rate. The previous owners have had pretty minimal vacancies in the past five years while using a PM so I'm thinking it will be closer to that 14K

@Christian Bors thanks, I will have to add those numbers in and see how it looks. I am putting 45K down (going in with another investor) and then financing the rest at a 30 yr mortgage - hoping to have it paid off in 8-10 years.

I currently have a full time job so there is no number that I need to meet - I am just looking for a good long term investment. My plan is to buy more, but I think I am having trouble knowing where the numbers should be (I know it is different for each investor, but general guidelines, i.e. you really shouldn't go below this number, etc)

Thanks!

Hi all,

Wondering if you could give me some feedback on these numbers. This will be my first rental so much advise would be appreciated!! This home is in a good area, right near several colleges - therefore it would be rented by college students:

Purchase Price - $150,000

Annual Rental - $31,020

Expenses (taxes, insurance, repairs, utilities, PM, etc.) - $16,544 

NOI - $11,892

Annual Mortgage - $6,162

Cash ROI - 11.18%

Total ROI - 14.66%

What do you all think about these numbers? Does this seem like a good investment to you? Thanks in advance!!

Thanks for the encouragement @David P 

My goal is to have 5 rentals in the next 3 years. Do you think that there is a price range limit for a new investor? The area I live in has high price points. I can afford the downpayment and mortgage, but I don't want to over extend myself on the first property (looking at rental properties, a 6 unit apartment complex). In your opinion, should I stick to SFH or MFH that are at a lower price point so I can continue investing? Instead of diving in to the first one do you think it would be advantageous to take my money and invest it with a more experienced renter/flipper and see if they would be willing to show me the ropes in exchange for the capital?

Thanks!!

Hi @Dan B 

I'm a newbie as well, just joined bigger pockets too. Great questions - you are right, there is so much information it is hard to know where to start!! Keep me posted on how things go for you!

@Brent Mattison - Thanks so much for that info - I checked out the resource tab and found some great tools that will be very helpful!

@Paul Timmins - After reading your post I went ahead and purchased the PDF version of J. Scott's book - so excited to dive in and learn!

@Wendell De Guzman - Hey neighbor! 100 offers a day?? That is unbelievable! Are you looking in the western suburbs for these deals? Honestly, I didn't think it was possible in this area to have that much opportunity. How do you find all these opportunities? How do you know when you are looking at a property that can have flip potential?

Hi all,

I am a newbie looking to invest in rental properties and perhaps even flip a home! Looking for ANY advise I can get on how to get over my analysis paralysis and to find a property to get started with. 

Also, does anyone have any tips on what ROI should look like when deciding if a property is a good fit financially?

Thank you!

Hi Josh,

I am a newbie in Naperville as well! I have not yet bought my first place yet, still considering if I should do single family or more of a duplex. Any tips you have from your first couple investments would be so helpful. Thanks!