All Forum Posts by: Lee Judd

@Michael Widick sounds like you have thought this out quite a bit. If you are keeping it as a rental than the value isn't as important unless you do the BRRRR. Good cash flow. I like it!

@Veldin Miskic Thank you for the info. How many units did you have on the platform?

@John Thedford what do you think of it so far? What level plan did you go with?

@Jamie Fankhauser

Traction by Gino Wickham

Rich dad Poor dad Robert Kyosaki

@Gibby Rodriguez no problem. Happy to help.

@Simon Schermerhorn congrats sounds like a great deal. Have you seen any issues with tenants not paying due to Covid there? Trying to get a feel for the market there. Thanks

The cap rate you buy at is less important than the cap rate you are trying to sell at. The market should have an average cap rate but no property is the same. You determine what you want to sell it for and let the buyer decide if he agrees with you. 

 Hey Brandon without knowing more information its hard to help you a lot. Insurance definitely low compared to where I am at for the same price how. If you have a quote from an insurance agent then you are fine. Vacancy may be low. Cash on cash return will be high due to the down payment you are making. I assume this is an older house and you don't have any initial repairs but you did allocate expenses for repairs and cap ex. Make sure you have some reserves in case something comes up. 

Does your closing cost include escrows for taxes and insurance, initial insurance payment etc or just actual closing cost (appraisal, title work etc)? Does your payment include PMI?

Good luck!

Don't let flood zones keep you from a good deal. Flood insurance isn't as expensive as it once was. 

@Jacob Thompson Glad to hear that. It helps if you are a team and in it together.