All Forum Posts by: Ruchit Patel
Ruchit Patel has started 5 posts and replied 14 times.
Post: What all I need to close for my sub-to deal in Birmingham AL
- Posts 14
- Votes 3
Hello,
I'm currently in the process of purchasing a Sub-to deal in Birmingham, AL. As someone experienced in this field, I value your expertise and would greatly appreciate your suggestions and advice regarding Dos and Don'ts in Sub-to deals.
I've also heard that if the seller finances a small down payment, it can help avoid an acceleration clause. Could you please guide me through this aspect as well?
Thank you for your time and insights.
Best regards,
Ruchit Patel.
I stumble upon Sub-to deal in Alabama. Based on current terms do you guys think this will be good deal or need to negotiate to make it a deal for me.
3br/1ba
Buying46k
down 8000
3% interest
Assignment fee 6000
estimated monthly payment 502 for 7 years
Taxes 1000 yearly
Current Rent 750 but tenant will vacant the property in Sept
according to my criteria of
Assuming rent 750
| Monthly | Annual | |
|---|---|---|
| Income: | $750.00 | $9,000.00 |
| Mortgage Pay: | $486.25 | $5,834.99 |
| Vacancy (5%): | $37.50 | $450.00 |
| Management Fee (10%): | $71.25 | $855.00 |
| Property Tax: | $90 | $1080 |
| Total Insurance: | $100.00 | $1,200.00 |
| Maintenance Cost: | $166.67 | $2,000.00 |
| Other Cost: | ||
| Cash Flow: | -$200 | -$2400 |
| Net Operating Income (NOI): |
Cashflow is negative but is there anything I’m over estimating.
Post: Aspiring Newbie to REI - Located in ATLANTA, GA
- Posts 14
- Votes 3
I have been looking for condos but definitely back out many times after looking at HOA restrictions and HOA monthly dues kill the cash flow. But look into the Granville condominium (Sandy's spring). My condo brings some good cashflow and they have amazing appreciation because of the location. It's a investor friendly condi so you won't have to wait for any waitlist but minimum rental in 1 year.
Let’s network!
Post: Ruchit Patel - Passionate REI Enthusiast Seeking Networking and Knowledge
- Posts 14
- Votes 3
Greetings, fellow forum members! I'm delighted to join this community and share a bit about myself. My name is Ruchit Patel, and I currently reside in Atlanta, Georgia. I'm a Senior financial and reporting analyst.
I've recently started exploring and planning to start (REI), concentrating in particular on homes Georgia. But I'm also willing to look at possibilities outside of state lines. My main goal is to build a broad portfolio that finds a mix between homes with stable cash flow and those with greater potential for growth. This strategy, in my opinion, will give my long-term investment objectives a strong foundation.
I'm eager to absorb the knowledge and experiences provided in this community. I'm open to hearing from anyone who has ideas, information, or potential business deals to discuss.
I'm on the lookout for mentorship to learn more about different type of real estate investing and making deal. In return, I can offer my expertise in building robust financial models and providing comprehensive support for all your Excel and designing reporting system. Having worked extensively in this domain as a financial and reporting side, I possess a knowledge that I'm more than willing to exchange for your valuable time.