All Forum Posts by: Ryan M.

I have the book in my queue.  I'll move it to next in line! :)  Thank you for the help.

@Jeff Petsche  Thank you for ripping that apart.  I knew the numbers were too high so I just needed to know where I was (and still am going wrong).  It's all learning so this is great.

As for closing costs, I put $1500 as that's what it recommends on the low side.

Do you generally put 10% as a rule of thumb for Vacancy, R&M, CE, and PMFs?  This equals that 40% you mentioned.

Future assumptions - what do most people put there?  I have Annual Income Growth 5% Annual PV Growth  5%  Annual Expenses 2% and Sales Expenses 0%

Ok, this is my first go around, so bear with me!

Purchase Price: $374,900.00
Purchase Closing Costs: $0.00
Estimated Repair Costs: $0.00
Total Cost of Project: $374,900.00
After Repair Value $374,900.00

Vacancy $420.00 (10%)
Repairs $210.00 (5%)
CapEx $210.00 (5%)
Water & Sewer $300.00 (7%)
Insurance $200.00 (5%)
P&I $1,509.41 (36%)
Property Taxes $347.25 (8%)
Total $3,196.66 (76%)

Monthly Income: $4,200.00

Monthly Expenses: $3,196.66

Monthly Cash Flow: $1,003.34

Pro Forma Cap Rate:    8.04% 

NOI $30,153.00

Total Cash Needed $93,725.00

Cash on Cash ROI 12.85%

Purchase Cap Rate  8.04%

Hey All.

Ryan here from Boston.

I have a great realtor who is automatically sending me the MLS listings of my desired properties in the area I want and, to my surprise, I am seeing opportunities!

One thing I am worried about is this tool. I believe it works, but I don't trust my abilities or the numbers yet as I am nervous I am doing something wrong or somehow not considering something. I am getting COC's of 15-18% which is freaking me out a bit as I assume that is way too high, but at the same time, I am sitting here checking the numbers and trying to be conservative and still coming out with solid COC #'s.

I feel like it is my first time driving and I just don't trust my side mirrors and rear view mirror at all.  

Everyone is welcome to come, beginners, intermediates, and experts. Everyone can learn something new, even experts. So feel free to ask questions and introduce yourself.

We will be meeting at Del Frisco's in Burlington, MA.

I am from Medford, MA and wanted to say hello to everyone.

I have been listening to the BP podcast religiously and am very interested in growing my small real estate empire.

I am looking at multi-family homes, specifically 5+ units as I feel they require more money down, hence the benefit is fewer people can afford the down payment versus 1-4 unit homes.

I started a meetup [dot] com that I hope to meet a lot of you at as BP says to do so, so if you are meetup person please search for real estate investing and lets meetup.  I plan on doing the first meetup after 4th of July week.

Anyways, I'm Ryan, let's connect!