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All Forum Posts by: Patrick Rowe

Patrick Rowe has started 33 posts and replied 132 times.

Post: Rehabs on flooded houses

Patrick Rowe
Posted
  • Investor
  • Baton Rouge, LA
  • Posts 133
  • Votes 13

@Chadmayo- I had to rehab my personal home in Central and the Municipality wasn't to bad. Also I have rehabbed a few properties in EBR parish and didn't have to pull permits on them.

Post: Rehabs on flooded houses

Patrick Rowe
Posted
  • Investor
  • Baton Rouge, LA
  • Posts 133
  • Votes 13

@Shawn- I have done some and didn't have to pull a permit. It really depends on how much water the property too on.

Post: Multi Family Capex Cost

Patrick Rowe
Posted
  • Investor
  • Baton Rouge, LA
  • Posts 133
  • Votes 13

Ok thanks for all the input, I was trying to find out the best approach to come up with a replacement cost going in. I'm looking to buy 15-20 units in a C class area, but in my market it's hard to find them. The only good deals here on paper is in the low income areas.

Post: Multi Family Capex Cost

Patrick Rowe
Posted
  • Investor
  • Baton Rouge, LA
  • Posts 133
  • Votes 13

When you buy multi family apartments how do you figure out how much to allocate for capex? Also do you bring a contractor with you or do you used a Multi Family inspection report?

Post: Need Some Advice on this duplex

Patrick Rowe
Posted
  • Investor
  • Baton Rouge, LA
  • Posts 133
  • Votes 13

@Tami DuBose - Yes, I have ran the numbers on the BP calculator and the cash flow is not as good as I would like. I would look at my schedule and let you if I can make it Friday. Also how often to you guys meet? 

@Jd Martin- Thanks for the reply, I agree after running the numbers I realize that this duplex will not be a good cash flowing property. The reason I look at it because it was in a good area.

Post: Need Some Advice on this duplex

Patrick Rowe
Posted
  • Investor
  • Baton Rouge, LA
  • Posts 133
  • Votes 13

I'm looking at purchasing duplex below and I want some good advice on the deal. Also this duplex has been well maintain and recently updated.

Purchase Price $149000 - 30 year @ 5.77

 Down Payment- 10%

2BR-1.5 BA 2178 SQFT

RENT - 1700 PER MONTH

TAXES -1813 PER YEAR

INSURANCE 1200 PER YEAR

PM -$1632

Vacancy- $1632

Reserve/ Maint - $2040

Post: Need advice on a 4plex

Patrick Rowe
Posted
  • Investor
  • Baton Rouge, LA
  • Posts 133
  • Votes 13

@ James- This my first time you the rental property calculator, normally I use my own spreadsheet. Also on this deal I have a 100% financing line up so there won't be a down payment. I have already done my due diligence and the tenants pays all utilities on this 4 plex. The only expenses I have is vacancy,capex,maintence,taxes,insurance.

Post: Need advice on a 4plex

Patrick Rowe
Posted
  • Investor
  • Baton Rouge, LA
  • Posts 133
  • Votes 13

Monthly Income: Monthly Expenses: Monthly Cash Flow: Pro Forma Cap Rate: $2,875.00 $2,468.65 $406.35 8.84% NOI Total Cash Needed Cash on Cash ROI Purchase Cap Rate $18,485.75 $0.00 Inf% 9.99% Property Information Purchase Price: $185,000.00 Purchase Closing Costs: $5,000.00 Estimated Repair Costs: $2,000.00 Total Cost of Project: $192,000.00 After Repair Value $209,000.00 Down Payment: $0 Loan Amount: $193,920.00 Loan Points: $1,920.00 Loan Fees: Amortized Over: 30 years Loan Interest Rate: 5.770% Monthly P&I: $1,134.13

Post: Spreadsheet of Rentals Under 50K!! Most are Tenant Occupied

Patrick Rowe
Posted
  • Investor
  • Baton Rouge, LA
  • Posts 133
  • Votes 13

@Latonya Muhammad do you have any properties in Baton Rouge?

Post: BP helped us acquire our first home in 2 months!

Patrick Rowe
Posted
  • Investor
  • Baton Rouge, LA
  • Posts 133
  • Votes 13

@Nikki Grizzle Congrats

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