All Forum Posts by: Nick Peters

Hi @Thomas Towner, welcome to BP!

To get more info about your local area, you should have a look at BP's local real estate forums:

Michigan Forum

Detroit Forum

Ann Arbor Forum

Grand Rapids Forum

Warren Forum

Best of luck!

@Roberto Lopez Based on the report, a few things are not properly set up. A few comments:

1. Your overall rent expectation is low compared to your purchase price (see the 2% / 1% rule)

2. your monthly expenses are through the roof. If you look at the breakdown, you can see that you put your annual property taxes as a monthly expense, so you should change that. 

3. Estimates for Vacancy, capex, Management, Repairs at 2% are way too low. Property management usually costs between 7%-10%. Capex is usually set around 8-10% (check BP's blog, they have multiple articles about that). Vacancy at 2% means your property is empty only one week a year, that might be a stretch too.

4. How did you come up with an ARV of $250k for a house purchased for $190k with only $5k of repair work? Unless you're making a very good deal at purchase, it's unlikely that your property would appreciate so much post acquisition.

Please let me know if I can help!

@Gael Bro BP has local local real estate forums where you can meet people from your area. I'm sure if you ask the question there, you'll get valuable feedback!

Welcome aboard and best of luck.

Welcome to BP, Cyan! You definitely came to the right place if you want to learn more about real estate and get opportunities to connect with investors or other professionals!

Best of luck!

Welcome on BP Thomas!

Welcom to BP Rocco, indead, a lot of information is available. And if you have a question, the community is here to help!

Welcome John and good luck with your future investments! 

The more you will analyze deals, the better you get at it. I'll recommend you to indeed post your analysis on the forum so you can share your own assessment and get feedback from BP members. The forum has a section for that exact purpose.

Also look at the blog, it has numerous articles on how to analyze properties efficiently. Or look online, it's full of great resources.

Let me know if I can help!

 Welcome Aaron.You can use BP's calculators. As a basic member, you're limited to 5 reports but it's unlimited when you become a pro member. Or you can find other resources (software and spreadsheets) in BP's file place or online.

Best of luck!

Welcome to BP Thomas, you'll see, the community is great and very helpful!