All Forum Posts by: Nicholas L.

@Cassidy Burns congrats.  One question on the Sterling house - isn't the cash flow a little thin?  I think it could be a great long term play as I expect Nova property values to continue to rise, but with expenses that is basically breaking even.

@Jul Hamer why not get a realtor?  On the financing side, pick a couple local banks and a couple national banks and get some financing options.  Getting a financing work-up is free but they'll pull your credit.

@Trix Contreras welcome.  I'm guessing you rent at the moment - do you plan to buy a primary at any point?  Can you house hack?

@Amanda Dewyer I just use Excel.

@Karen Williams got it. So the partner will get some of the profits? Just because you can't find a good deal doesn't mean you're in analysis paralysis. With the partner involved I think caution is warranted. It's extremely difficult to find good deals on the MLS right now.

@Karen Williams how do you plan to purchase?

@Amanda Dewyer use actual numbers.  Get actual rental comps from agents, use actual tax payments, actual utility payments, etc.

@Jason Quero I think for the most part if a house is listed on the MLS, the seller is just looking for market price, tenant or no tenant. If, as the buyer, you feel the tenants are paying below market rent and want to adjust your offer accordingly, go for it, but that doesn't mean the seller has to accept or care.

@Michele Armstrong what financing did you assume that yields the cash flow of $250? Is the $1550 based on actual, rented comps? How long has it been on the market? Is the HOA fee likely to increase any time soon? Would you self manage or use property management?

@Joseph Pedraza there are different rules of thumb, a common one is 6 months of living expenses.