All Forum Posts by: Ricardo Kendrick

@John Leavelle @Brent Coombs I have a few more questions. When it comes to the neighborhood how much bearing does it have on your decision to buy the property? I was reading on neighborhoodscout.com for the area where the duplexes are and it said the vacancy rate is around 20% which is higher than the city’s rate of 7.74%. When I changed the vacancy rate the monthly cash flow dropped to around $260. Some other neighborhood highlights: - $87,000 median real Estate price - average rent is $1,000 (rentometer said $750 was the average and I have $800) - 65% of the children in the area live in poverty so this is a low-income area. - the main occupations are manufacturing and labor, sales and service jobs

@Brent Coombs you are right in regards to the interest rate. I put it at 5% as if I were looking at a mortgage. I will be getting prequalified soon so I'm assuming the interest rate would be higher.

@John Leavelle I see that when I amortized it over 30 years the cash flow went to $468.68.

@John Leavelle I put 20 years because I wasn't thinking about holding it for 30. Does amortization period correspond with the loan loan term e.g. 15- or 30-years?

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*This link comes directly from our calculators, based on information input by the member who posted.

Hello,

I am interested in this property. The sale would include 2 duplexes, all of which are being rented. The cost would be $89,900 for each. I would like others to analyze the deal to provide feedback.

Thank you,

Ricardo

@Matt Gibson hey there. Thank you for the feedback. What calculator do you use to analyze your deals that you are familiar with. The calculations I included have the P&I at $343. As for the $50k that was an estimate, but will have that verified by a few contractors. As for timing, it does need to be repaired asap. Currentl,y ther e are no occupants. It's not in livable conditions. I like the idea of converting it back to a 4-plex as well. And there are a few other properties around the area that I prospected.

@Alex Olmo I do not own the property. It's something I am interested in purchasing for renting.

@Alex Olmo would I contact the county building office to pull permits? If so I will look into that now.

@Vince Lucas oh I understand. Do you think the county or city tax collector office could help you?

@Vince Lucas hey there. I have used the country property appraiser website to find a mailing address for someone. I hope that helps.