All Forum Posts by: Ryan Fagan

We shoot for 2-3 months.

What price range are you looking in?

A dishwasher provides a greater value than an extra cabinet in almost every situation.

Hello @Randall Kates,

Is the house next door a duplex? Using comps of single families and non-like style homes is a recipe for disaster for your analysis. You need to be confident on what your NOI and ARV will realistically be.

If you need more help looking at this deal I am more than happy to help.  I am licensed in NJ and I am very familiar with South Jersey.

Welcome Brian.  You have a great skill set to get started in real estate investing.  Just make sure you always run your numbers.

What part of the city are you looking to do flips?  I am based in the northeast.

I am an expert in Northeast Philadelphia, if you are looking for investments in this section of the city feel free to contact me.

Welcome to BP @Victoria DeCristoforo.

The first thing I would do is have the seller verify their numbers. I usually see the numbers for small multi-families to be optimistic at best on the MLS.

The total potential gross should be $18,120 ($735 + $775 x 12/mo)

50% rule (maybe a little high IMHO) would cost you $9,060 before financing

That leaves you with a rough $9,060 NOI

Cap = 5.17

I am very familiar with Mayfair, and depending on the location this could be quite overpriced.  The Cap is way too low.  As a rule of thumb I find that you should use the 1.3% rule when looking at investments in the Mayfair, Tacony, Holmesburg area.  Basically, monthly rent/sales price = 1.3%  

If you need any advise or assistance analyzing investments in the northeast feel free to contact me, I am in agent that specializes in the northeast.

You should absolutely use an agent if you are buying on the MLS.

@Eli M. Tacony is a great area for buy and hold properties.  The demand for rental units in the area is strong and the sales price is reasonably low.  Tacony also has great transportation with I95 and the Boulevard both nearby.  

I work with a few investors in the northeast, and most of my business is based on these areas so if you want more information or assistance feel free to message me or call.