All Forum Posts by: Account Closed

Does the CFRI only cover Volusia County? 

Agreed. Thank you. Another 10%, the CoC return is still decent. Any other thoughts or concerns?

This is a big jump for me as this would be my first purchase... I have a partner who has rental experience with 2 SFR's. Below are the details. I would greatly appreciate thoughts and opinions.

3 1-bedroom units - rented at $600 each

3 2-bedroom units - rented at $700 each

Gross monthly income - $3,900

Asking Price: $350,000

Owner pays water - estimated at $240/month

My biggest challenge was estimating insurance so I took a guess and put it at $250/month. I'm almost positive it's in a flood zone since it's on the beachside.

I ran this through the calculator with vacancy at 7%, repairs at 10%, cap ex at 3%.  

We will manage the property ourselves.

Came out at $783/mo net cash flow with a 12.2% CoC.

Purchase Cap Rate: 7.84%

Pro Forma Cap Rate: 7.68%

Is there any other facts/figures you'd like to know to give an informed opinion?

Unless it's an A class property, I'd look at Window World. They're about $189/window installed for a basic double pane. 

@Courtney Merricks, Please add me to your list for Jax, Cape Coral, and Daytona Beach.  My email is [email protected].  Thank you in advance.

Mike

Greetings,

Does anyone have any recent experience with the Cape Coral market? I'm looking at a new construction build down there. Also, any thoughts to new construction for a sfr build/buy/hold? 

Thanks everybody in advance for any insight. 

I am interested as well. Please send any information you have to [email protected]. 

Thanks,

Mike

Wix is your solution. I built my website in about an hour. And that's with going through all of the registration, put your credit card number here, agree to terms here... blah blah blah. Check it out. Simple but gets the job done. 

bwcprograms.com

Wix has a great platform if you want to design it yourself.  I just started one, unfortunately not for real estate though.

Watched it twice, shared it on FB, and sent the link to my closest friends.  So, so many are trapped in the rat race.  Me included. But I've devised a plan to get off the carousel.  Thanks for this, @Justin Lenk