All Forum Posts by: Mannny Lubana

@Account Closed

@Jeff Copeland - for your input and feedback as you come highly recommended. 

Ladies and Gentlemen, reviving this thread.

I am in the process of looking at a property which has been renovated and is now fully rented. Its a triplex with side by side units in New Port Richey (34652). Each unit is rented for $1K (utilities paid by tenant) and property retails at$339K (off market listing). I am out of state buyer and this property will be managed by PM from day 1. I have couple of questions from people who are well versed with this zip code and can offer valuable suggestions / recommendations, if any.

- Is New Port Richey a nice area to invest from a buy and hold perspective?
- How's the rental market? Is it saturated ?
- How's the tenant quality ?

I havent come across any economic drivers data for NPR but if someone has any insights, it would be greatly appreciated.

Thank you all in advance for your time and responses.

Thank you @Joe Young - its a turn key property from what I see. Once under contract, I can surely send you the address to take a look and if case you or any investor is interested, I would be inclined to partner up. 

@Gary Trapeo - Yes, you are absolutely correct. These are 3 -> 2/1 units side by side. How's the vacancy rates in NPR ? I quickly searched online it shows 5% although not sure how much of quality tenants are out there looking for a nice place to rent in NPR. Is economic market strong ? 

Ladies and Gentlemen, reviving this old thread.

I am in the process of looking at a property which has been renovated and is now fully rented. Its a triplex with side by side units in New Port Richey (34652). Each unit is rented for $1K (utilities paid by tenant) and property retails at$339K (off market listing). I am out of state buyer and this property will be managed by PM from day 1. I have couple of questions from people who are well versed with this zip code and can offer valuable suggestions / recommendations, if any. 

- Is New Port Richey a nice area to invest  from a buy and hold perspective? 
- How's the rental market? Is it saturated ?
- How's the tenant quality ?

I havent come across any economic drivers data for NPR but if someone has any insights, it would be greatly appreciated. 

Thank you all in advance for your time and responses. 

Hello My Fellow Investors:

I have been analyzing deals and crunching numbers on MF properties. However most of the times, properties aren't cash flowing at all after this initial analysis. In some cases either property has too high expenses which eats up most of the Gross Rent Income and NOI number is where might have to put money out of pocket resulting in negative cashflow. Unless, down payment is more than 20% like between 30-50%, then property might cashflow. But I still see these properties being scooped up in a day or two by people.

Is there anyone out here who can assist or mentor on follow up steps or information that I missing to make the numbers work ?

- What to do if the property is negative cash flow after initial analysis ?

- If property cash flows $100/ door, then make an offer ?

- Even if I do end making an offer at the list price, someone else ends up buying that property over asking price. How does people make that property cash flow ? Am I missing some pieces of puzzle ?

Open to feedback / responses from all you out there.

Hello My Fellow Investors:

I have been analyzing deals and crunching numbers on MF properties. However most of the times, properties aren't cash flowing at all after this initial analysis. In some cases either property has too high expenses which eats up most of the Gross Rent Income and NOI number is where might have to put money out of pocket resulting in negative cashflow. Unless, down payment is more than 20% like between 30-50%, then property might cashflow. But I still see these properties being scooped up in a day or two by people.

Is there anyone out here who can assist or mentor on follow up steps or information that I missing to make the numbers work ?

- What to do if the property is negative cash flow after initial analysis ?

- If property cash flows $100/ door, then make an offer ?

- Even if I do end making an offer at the list price, someone else ends up buying that property over asking price. How does people make that property cash flow ? Am I missing some pieces of puzzle ?

Open to feedback / responses from all you out there. 

@Ryan Kenneth - Thank you very much for your reply. I be sure to contact @Jordan Perry for lending needs. Any leads on investor friendly realtors would be very much as well. 

Hey Team: reviving this thread, I am been looking to invest in NB (St John, Moncton, Fredericton). However, inclined to other cities in NB as long the numbers makes sense and property cash flows. I am looking for a power team member Mortgage Agent to start working mostly with investment properties and well versed with asset based mortgage. Any lead or connection will be highly appreciated and thank you in advance. 

Hi Team: Reviving this old thread, I am looking to buy a rental property. Any Canadian in this thread have been thru this journey? In order to protect the property and income, I am assuming a solid LLC structure is required to reduce lability. Would appreciate if any one can provide a lead or detail on this piece. Thank you in advance.