All Forum Posts by: Account Closed

@Andria Kobylinski Thanks for the links! I'll definitely keep my eyes on them...looks like some good deals might come up there. 

@Laura Tokgozoglu Thanks for your take but I think I'm gonna pass on this one. 

Oh wow, there's a unanimous consensus on this one lol. 

@Jaysen Medhurst and @Kevin Hunter thanks for taking a look at this deal. I appreciate the feedback. Yeah, I thought I was accounting for everything in my calculations, I suppose I need to tighten up the numbers in the future. 

@David Pere Thanks for the wholesaling tip. Yeah, based on what I read around here, I thought that initial capital outlay might be a bit high. But thanks for the wholesaler tip, I'll put some feelers out. 

@Trevor Ewen It's in Virginia Beach. But it's not in a neighborhood close to the base, it's just being rented out by a military family stationed in the area. 

@Jaysen Medhurst thanks for the advice. That cash flow seems low based on all the calculators I've used. 

Here's a link to the BP calc report:

https://www.biggerpockets.com/...

And that's not factoring in me bumping the rent by $50 to $100 next year. 

Insurance would be $80 a month, property taxes about $2,600 a year. 

The tenants cover all the utilities, including trash. 

@David Pere Thanks for the response. Here's a link to the calculator report:

https://www.biggerpockets.com/...

I would love to hear your thoughts!

Hi all,

Thanks for taking the time.

I'm brand new to real estate, so wanted to get some advice before I move on this deal.

Here's the rundown:

Type: SFR townhome 3bd/3ba 1,642 sq ft.

Cost: Upper 280s but I want to get it down to $275,000

Financing: 30-year mortgage, 25% down

IR: 3.5%

Maintenance Budget: $1,500/year

Rent: $1,650 

Monthly Cash Flow (based on calculations): $233

This is in a military town with current military residents. 

So, if I were to buy, I would already have tenants for at least another year. 

Also, I'm going straight for a cash flow property because this is my first one and I just want something that's going to be relatively safe and conservative. 

I'm not really betting on appreciation or anything, and my calculations are based on never raising the rent at all. Though in reality, it would probably be pushed to $1700 or $1750 after the current contract is up. 

Any thoughts? I'm happy to provide more info if need be. 

Thanks!