All Forum Posts by: Sastry Srini

Hey Andrew, In my mind I am thinking it is easy.. 1. Find out how much average college tuition for 4 years ( you can limit up) 2. Work backwards, but a property with worth that amount, with a financed loan for 15 yrs 3. Rent it out and let tenants pay your asset down in 15 yrs.make sure your rent covers your debt +other expenses and generate a + cash flow At the end of 15 yes , your loan is paid off and you have an asset you can take equity to pay for your kids college. In the mean time, hope the property appreciates., Key is to find a good location and property. Hope anyone with more rei experience can guide you.. Best of luck!

Jim Schock I currently have sfr in Jacksonville 32210. Any advise on which zip codes are good to invest and which one to avoid. Looking for sfr .. Thanks in advance

Russell Brazil I don't understand your comments about solar panels on the house roof reducing the value of the house by 3 to 5%. Please explain.. If the solar panels have useful life and have net metering in place with utility company, then the home owner is generating revenue from the difference in power put back on the grid, which in turn reduces the utility bills. Given that net benefit , I don't understand your comments on how it reduces property value? Thanks, Srini

Awesome discussion thread and thanks to everyone participating..

@Dave Toelkes thanks for clear explanation. 

"If you are considering becoming a rental property owner, base your purchase decision on the amount of positive cash flow the proeprty can generate. If you have bought the right cash flow, appreciation and tax benefits will fall into place. The rule of thumb I use for financed properties is the net operating income must be at least 125% of my debt service."

Would you please help clarify the last comment regarding the rule of thumb. An example would help. 

Thanks!

I am not a financial advisor.. you could use Roth IRA.. money goes in after taxes, growth and withdrawals are tax free. You will also have choices of mutual funds to invest. Flexibility on purpose what you can use funds for. Other options are to save in regular mutual funds contributing on a monthly basis- taking advantage if dollar- cost averaging.. You may want to talk to one of the financial planners.

Looking at Jacksonville market for Buy and hold rental -SFR . Would someone who is know the Jacksonville give a general sense of good zip codes to invest? which zip codes to avoid?

Any opinion on 32210 or 32219 zip codes (Trout Bluff area) outside of 290 outer loop.

Thanks in advance.

Srini

I have used Fletcher Inspection in the past and very reliable inspectors. http://www.fletcherinspections.com/ Good luck Srini

Charles Reinhart Property Mgmt are leading realtor and property Mgmt company..I have used them. CribSpot is another PM.. Should be able Google up a few .. Best of luck

Thanks for sharing.. How long were you with SunCoast? I am just starting with them now .. anything I need to watch out for? I had conversation with HomeEncounter (another PM) and had a chance to compare the terms .. Similar terms but not sure of their service quality..hope some BP'ers can chime in.. Please share..

Try DFCU - Dearborn Federal Credit Union They also give 1% cash back on your total mortgage amount and have very competitive rates.,