All Forum Posts by: Rosa Lepore

If you were to partner with a contractor how would you work the specifics?  Would it be a good idea to put up cost of house if contractor throws in all labor costs?  Split material expenses and split profit?  Just looking for advise on how to flip my first home.   I’m thinking about getting a real estate license to save on closing costs.  Any advise would be appreciated.  Thanks!

@Christian Paez

Thank you.  Easier said then done.  I started with a realtor/property management company who presented me with an investment that wasn't good after learning a bit more.  I was going to lay out $44K in cash and get back a little over $200/month in rent.  I don't think there was any immediate profit in appreciation either.

@Christian Paez

Thank you, I've done a little bit more learning since and I'm looking at cash on cash return and I have a better understanding of what a good deal looks like.  Can I ask, what do you mean get involved locally?  I'm from NJ, you mean invest in NJ, close to home?

@Sean Pierce

Thank you, I will.  What do you think of Dixieland?

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Hmmm...not sure what to make of this.  When I click on the 50% rule tab it says cash flow is a little over $100/month

When I look at investment over time, it says that I'm losing in the first 5 years.  I must be doing something wrong.

So I’ve been looking in Lakeland, Fl for a rental property.  I was looking for $100k price point and about 1% rental income.  Quickly found that was not realistic.  Houses were more like $125-$150k needing some work and $1000 rental, less than 1%.

I got in touch with a realty broker and management company who later contacted me with a duplex that they had not yet put on the market.  Asking $180k.  Had one offer at $170k which seller turned down.  

Now I am offering asking, so $180k plus closing costs a little over $5k.  Rental income combined for 2 units is $1700/month.

Putting 20% down, mortgage, tax, and ins payments monthly will be $989.  Management fee 8% of rental income.

Can someone tell me if this is a good deal?  There is a bit of cash flow which is better than the money sitting at a bank.  I guess I’m asking if the sticker price is good and if I’m buying at the right time.  Property is about 1700 sq ft.  Looks to be renovated as of 2017.

I’m also hearing a lot of people talking about a real estate market downturn or fallout.  Is this something that I should be worried about?

@Account Closed

I think I'm getting closer to what I want and that is high cash flow with either multi SFR or a multi unit building and I want to continue to grow my portfolio from that. However, I think my problem is not having connections yet, or trusted connections. I did contact a management company that also does realty, and they know what I am looking for, I just don't know if it's the right connection. Do you suggest any real estate investor realtors and management companies? Being that I am a beginner I don't think we will be bidding on the same properties.