All Forum Posts by: Robert Gailie

Hello all. I am a new investor and I have always had 2 intrests before becoming an active investor. The 2 intrest were single/multi family buy and hold rentals and self storage facilities. I am 25 years old and I have 100,000 that I am unsure of where i want to invest it. I want to make the right choices before I spend the money and I am looking for insight on self storage facilities. Any input positive or negative would be greatly appreciated. I am a rookie to all of this but have read a lot on investing. Also I would love to hear from some people that have experience in owning self storage facilities. Thank you for your time. 

1200 per year for water and sewer 1200 for insurance 450 for electric taxes are 5500 mortgage will be based on purchase price. They want 119000 for the property id lIke to get it under 105000. First floor is in brand new condition. Remodeled 2013 there should be no problem getting 850. 2nd floor hasn't been touched in 20 years as someone was there for the last 20 years. I feel I can get 800 for that floor. less vacancy and repairs which as I can see there is 1 repair of a rotted floor near the front entry door.

I am looking at a 2 family with 1 bed 1 bath in each. I am curious where my net profits should be at the end of the year. The cash on cash is 25% net profit is 5500 a year. Should I be looking for better returns? Purchase price is 115000. 20 percent down. Landlord pays water and sewer and a landlord electric bill.

I have a lot of cash to start with but I think I want to finance to use leverage and have the ability to use my money to purchase 5-6 100,000 dollar homes as long as my first deal works for me. I haven't looked into cash on cash return. @crystal smith also the deal you described above is exactly the type of deals and returns I am coming up with. 

Also any suggestions on places to look to find the better buys?

hello I have been looking for awhile now and seem to be able to find properties that are only a 6-8% cap rate. I am wondering if I am being to picky or if I just am not finding good enough deals. Most of these properties profit about 5500 a year I just don't want to make the wrong choice on my first deal.  Any suggestions or opinions? 

thank you I appreciate the input. I have found properties but there only at a 6 to 8 percent cap rate in low income areas.  I just don't know if they are worth that kind of return.

hello all. I have been looking for my first rental for a few months now and I haven't had to much luck. I have looked into some areas close to home that are low income but I just don't know if the value is there. What are some pros and cons of buying in these areas? Are they worth the trouble or is turnover rates and tenant destruction to much to be bothered with?

Well the seller gave incorrect information on the numbers of the house so when I read the contract it was a red flag. So I backed out of the deal and moved on to look for the next one. Yes I am in orange county.

hello all. My first deal is a multi family. It has 2 1 bedroom apartments with tenants In place. Income is 800 a month per apartment and my expenses are 157 a month for gas and electric. 5600 for taxes 1100 for insurance water and sewer are 200 a year. I am going into contract soon. The house is decent minor issues to fix. The asking was 99000 I got it down to 91000 and the estimated value is 115000. I believe the deal is decent and I hope all goes as planned. I hope to be working on another deal soon after this As long as this works out for me. I am planning to raise the rents 50 a month per unit to give a little better cashflow.