All Forum Posts by: Ryan Milne
Ryan Milne has started 2 posts and replied 14 times.
Post: Buy and Hold Analysis (First Time, Help?)
- U.S. Navy
- Kingsland, GA
- Posts 15
- Votes 3
This is my first attempt (other than daily practice) at running actual numbers for a buy and hold rental property.
The listing read:
"Nice triplex with good cash flow for sale by retiring landlord! This property has been well maintained and sellers are motivated!"
Other Information:
Built in 1993
Listed for 222 days
7 Bedrooms and 3 Baths (No information on how that is broken up)
2826 sqft
So I did some numbers on it and tried to be as conservative as I could to see if this is even worth calling on.
Purchase: 125,000
Cash To Close: 20,000
Monthly Rent: 1,200 (I understand this is a guess especially not know the actual configuration of the triplex, so I went low with 400 a door. Rentometer said 528 for 1B1B, and 590 for 2B1B )
Prop Tax: 125
Ins: 80
Mortgage: 483
HOA: 0
PM: 120
Vacancy: 10% 120
Repairs: 5% 60
TOTAL: 988
Income - Expenses = Cash Flow -> 212
CAP Rate = 6.8%
Cash on Cash = 12.72
If possible could someone talk me through any glaring mistakes I could have made not to the point of making an offer but just to the tune of, is this even worth a call?
Post: Hello from Kingsland Ga / Jacksonville Fl area
- U.S. Navy
- Kingsland, GA
- Posts 15
- Votes 3
Thanks again for the warm welcome. I'm excited to be on here and very interested in working with you all, especially those in the North FL / South GA area!
Ryan
Post: Hello from Kingsland Ga / Jacksonville Fl area
- U.S. Navy
- Kingsland, GA
- Posts 15
- Votes 3
Thank you very much for the welcome.
I have set up some keywords for my local areas ( Kingsland Ga and Jacksonville Fl ) and I have had the Bigger Pockets Pod Casts playing in my ear all day.
Post: Hello from Kingsland Ga / Jacksonville Fl area
- U.S. Navy
- Kingsland, GA
- Posts 15
- Votes 3
Hello everyone,
Just a quick introduction, I've been in the military for 14 years, always stationed in the same area, just across the FL/GA border in Kingsland Ga.
I currently own a little 3B2B in Kingsland Ga, and recently became interested in other RE options. I don't think I can convince myself to let savings sit in CDs at 2.5%, so I found my way to biggerpockets.com.
I have been drinking knowledge from a firehose the past few weeks, from tax liens and foreclosures, to flips and rentals. I'm trying to get a handle on everything and would like to thank everyone for the amazing content on this site.
Obviously, thanks to all the advice on here, I would love to talk to and work with other like minded people. Thank you all again for such an amazing place to come learn.
Ryan