All Forum Posts by: Morgan Smith

Thanks @Larry Fried, @Leslie Pappas, @Tom Ott, @Dmitriy Fomichenko!

Hi @Ariel Smith.  Not currently looking in the area but thank you for the offer!

Thanks @Andrew Syrios, appreciate it!

Hi all,

Happy to be a new member of this community, after stumbling across the site a few weeks ago. It is hard to believe a site like BP even exists - a massive wealth of free resources for a newb like me, along with a supportive community willing to share their experience.

My day job is in film production - I've been with Lucasfilm in San Francisco for close to a decade. But I've always had an interest in real estate investing and have seen first-hand how passive streams of income can be truly liberating. I would not have been able to pursue film in an expensive city like SF had it not been for real estate investments made by grandfather many years ago. They have made a huge impact on my family and it is that type of impact I'm hoping to make now for my children (2 and 1 yr old) and future grandchildren.

I am trying to learn as much as I can about the industry in my free time. Drawn to SFR and MFR out-of-state at the moment. Ideally as passive as possible so the turnkey option w/ PM is definitely appealing. Starting to analyze deals and see what feels right. Hope to connect with some of you in the future!

Morgan

@Lee Ripma

I'm looking for relatively low risk investments in the real estate arena, it's all relative.  I'm interested in long term holds to generate passive income for both my children and my retirement (in my 30s currently).  My grandfather invested in real estate and the financial flexibility it has given my family really made an impact on me.  It is liberating and something I want to continue to build upon.

Visiting before I invest has always been part of the plan.  I lean heavily towards TK properties since I'm out-of-state.  What made you chose the non-TK route?

@Jeff Wallenius

In this case the TK provider does own their own properties.  I'll PM you as well.  Thanks for your advice!

@Chris Nordella 

- You are correct - property is in Independence.  Great point about the CTC not including closing costs, that should obviously be part of this equation. 

- Do the inspections run ~$500 per?  

- The rent estimate from the TK company was $25 more per month but thought I should be cautious. 

- Insurance is just a quote for the time being.  Good to know it seems low.

@Lee Ripma

- Ideally cash flow would be over $200 / month.  Trying to get my feet wet on this first deal and grow from there.  Looking for low risk.

- Noted about the insurance being low, thanks!

- Speaking with a TK company in KC.

- Property is in Independence.

Thanks for the input Larry!  Definitely agree that this isn't anything special.  I just want to know that the bones of the deal are good and that there isn't anything I'm failing to account for.

Hi there, I'm brand new to this site.  Can't even believe a resource like BP exists - there is so much valuable information here and such a supportive community.  Just trying to wade through it all with the goal of making my first offer in the coming months.

I'm interested in long-term buy and hold, willing to take a hit on CoC to secure a solid SFR in a B+ or higher neighborhood. Currently looking in and around Kansas City.

Here is an example of the type of deal I'm finding.  I'm trying to be conservative with my numbers so I don't overextend myself.  Any constructive feedback is welcome!  What I'm missing, things to consider, etc.  Thanks!

Purchase - $90,000

CTC - $18,000

Rent (annual) - $11,400

Property tax (annual) - $1,200

Insurance (annual) - $600

PM (annual) - $960

Vacancy @ 10% (annual) - $1,140

Repairs @ 10% (annual) - $1,140

Mortgage (annual) - $4,128

Utilities / lawncare - paid by tenant

NOI - $6,360

Cashflow (monthly) - $186

CoC - 12.4%

Not terrible?  Really looking forward to hearing your thoughts.

Appreciate it! Looking forward to hearing how the first few months go!