All Forum Posts by: Morgan Smith

http://www.deniselevans.com/Tax-Sale-Investing.html

Might want to look at this website.

Hey, sorry about that. You called our 205-251-1800 number, I don’t ever check this voicemail…

I’ll give you a call tomorrow @ 845.608.5795, my personal # is (205) 447-8946

None of them are section 8, we don't deal with section 8 tenants.

I have 8 Single Family houses that we are thinking about selling in Birmingham Alabama. They are all rented out currently.

We are asking 80% of Tax Value on these, which is 650k, which ends up being a 6% cap (assuming 50% rule) with instant equity of 20%.

Here's a breakdown of each property:

Also, here's my newbie website :), with some photos
http://liongroupllc.com/Rentals.php

Stay away from Section 8 and anything in Birmingham city, demographics are shifting away from b'ham due to school system being so bad.

Section 8 is a nightmare for paperwork and even worst nightmare for the tenants (i.e. give me, give me type of people).

IMHO, gl to you. Join the local REIA: http://www.aiaclub.com/

That's exactly what I was looking for DCR, thanks Ned, you da man!

Any other analysis tools that would be useful when i'm looking at property in my situation (i.e. 100% financing)

Oh and thanks for any input you might have :)

Rate of Return (ROR).

Essentially we have a huge HELOC. What i'm trying to figure out is what kind of metric I should be using for analysis since we aren't putting any money down on the houses we buy.

Hey, I think i'm losing my mind with this and i'm sure it's a simple answer, but what do you guys use for your ROR for properties that are 100% financed with a HELOC?

Here's my usual deal:

35k purchase
800 a month rent
50% rule - 400 for expenses
350 for HELOC loan (90 going to interest rest going to principal) - 7 year am :(

I'm getting 7% ROR off of the financed amt, but I didn't put any money into it.