All Forum Posts by: Mark Graham II

Depending on which operating system you use, you can swipe all the way to the left (past the home screen), or pull down from the center of the screen and it will bring up the search option on your phone. Type in Podcast, and it will pull up the app for you. Then just search bigger pockets. After that, sit back and enjoy

That's right place right time! Nice work!

@Francois Frigon Ok. I'm looking at trying to do about the same thing. Trying to figure out how to structure the deal, so your info has helped a ton. Thank you sir!

@Francois Frigon, would you use the 6% you pay for the lease towards the down payment? Or would it be a wash, then just buy the property?

Thats what I was wondering! Thank you!

Will do! Thank you @Patrick Liska!!

@Francois Frigon What do you mean by 6% of the sale price? as far as monthly payments?

T@Patrick Liska (Got it right that time!), Thats what I was thinking, but in your opinion the numbers work? I've been so worried I'd over analyze and not make a move because of fear of failing. If the numbers I see make sense to someone else, then I think it will work out. Especially if I slowly bring rents up to what the rest of the local market is

Also, rents should be between $575 and $650 for the area, depending on how nice the units actually are

Did it again.... @Patrick Liska

It is fully rented, with one tenant who has supposedly been there 15-18 years. I think the mom that they inherited from had rents really low.... Possibly under $400. As far as advertising, I can do that on my own with next to $0. Renting out here is 99% Facebook sites, and word of mouth, as the county pop is something like 25k people total. I would manage myself, as well as basic maintenance. Also, I was looking at leasing for $1500/mo from the owner (if they take it), and thinking a purchase option somewhere around $250k. I guess I get so confused about cap rates and such I lose track of where I am. Thats why I was asking for help.