All Forum Posts by: Rodney Kuhl

@Wayne Brooks Also good to know. Thank you! So if I didn't want to account for re-investing all of the income, which calculation should I use?

@Ben Leybovich Ahh, thanks for clearing that up. I don't fully understand IRR at this point. I was playing around in Excel last night (yeah, I do that for fun - my wife definitely thinks I'm cool....not!) and didn't put that together. I'll give it a try later and see what it looks like. Thanks for clarifying how you do that!

@Reggie Maggard I have it set up to charge $25 for the first day it's late, and then $5 per day after that.

@Ben Leybovich If I'm understanding IRR right (I was just looking into this a little bit last night), in order for Excel to calculate it you have to have a purchase as well as a sale. If you are planning to buy a property and hold onto it forever (correct me if I'm wrong, but that's been my understanding of what you do from reading your stuff), how do you go about accurately calculating that? Just run different scenarios for sales at each incremental year to see what it would be?

@Tyler Haskell I wouldn't rule out looking inside the 465 loop. There are plenty of good pockets/neighborhoods within Center township. Some neighborhoods I'm currently looking into or own in are Emerson Heights, Fountain Square, Bates Hendricks, Little Flower, Irvington, Christian Park, etc. I do also own a property in Lawrence, so I understand that side of it as well. The good pockets in Center township offer a bit of a different type of property than you'll find in, say, Lawrence, but both can definitely work. All depends on what you are looking for. Let me know if I can be of help.

When you are analyzing a deal, do you consider your vacancy rate as enough to cover the lease up fees as well as any costs associated with turning over the unit? If not, how do you incorporate that into your analysis?

I was previously self-managing properties but I will be having PM on my next couple of properties and realized I probably wasn't accounting for that.

Thanks!

Welcome to BP @Account Closed !

@Dan Perrott I can send you an email with the analysis tool that I built and use to analyze rental properties. I'll shoot you a PM.

@Evan Manship Congrats man! Good work!

@Matt B. I think you definitely have 3 good ideas of how to invest from out of state. Regardless of which route you choose to go, I'd highly recommend going to that city and checking out the areas of properties you may be looking at to get a better feel for the quality of property you are buying. Also, having a team on the ground is super important, whether that's for doing actual purchasing/rehabbing/etc work or someone to bounce ideas and questions off of. Good luck!