All Forum Posts by: Matt Cariello

Looking to get some feedback on a property I'm considering taking a look at. Here is this info:

3 unit property - fully rented
Asking price: $99,900
Unit 1 - 2 bed, 1 bath, $500
Unit 2 - 2 bed, 1 bath, $500
Unit 3 - 3+ bed, 1 bath, $800
Taxes - $4,105 (2012)
Owner pays sewer and water
Tenants pay electric and heat
All separate utilities

Note - I plan on adding a few properties per year and will certainly be hiring a professional property manager from the get-go. I simply do NOT have the time to manage the property myself.
Also note - I would plan on putting 20% down and financing the rest.

Using the 50% rule, my calculations come out to be very good. What are your guys' thoughts? Thanks!

Congrats Phil - sounds like a very good pick up! Did you pay all cash for the property or did you finance it?

Raise those rents ASAP in my opinion! An extra ~$2400 a year in your pocket

I'd sell and use the profit to go towards new investments (which don't necessarily have to be in California by the way - you can look elsewhere too). You could pick up a nice 2-4 unit property with that amount of money and clear 5-15k per year with it (if you find a great deal).

Just my .02 -- good luck!!

I've had both. Like my iphone a lot better.

@george -- of course they sell more, there are 75 different models of the android vs the 2-3 versions apple has on the market at any given time!

Ziv Magen - Yup. Couldn't agree more!

Exactly my thoughts Ziv Magen - I am going to start small and 1031 them (or add to them) with some larger units that are less hands-on as my career is very time consuming.

The more hands-off the better for me! Thanks so much for your reply!

Paul,

Whatever came of this? Did you end up getting the place… Did you end up getting the other side leased out?

Hope all went well!

I like the look of this deal, it looks pretty clean!

Please let us know what comes of this - This is exactly the type of stuff I'm looking to get into as well

Very excited to see the finished result here Will - Congrats on the pickup and I wish you the best of luck with the sale.

What a great spread and definitely a great motivation to us here!

Ed that 3.4% pickup is fantastic! Good for you!

Do you have a spreadsheet or some sort of template that you use in order to input all of the data in order to analyze what kind of returns that you will have? Or just pen and paper analysis?

Thanks much -- a spreadsheet would be fantastic help