All Forum Posts by: Justin Jocewicz

Yep...thanks everyone.  Still waiting on @Wayne Brooks to either get some coffee or to break his old ankles playing bball :-)

Here is a picture of the subway/offset style tile pattern that I put in my rentals from the last rental I did.  

Thanks.

Heading out now.  Should be there about 215 with the rain :-)

Will make it out this time.  @Wayne Brooks, want to car pool?

http://flexmls.com/share/MbsG/4705-Brook-Drive-West-Palm-Beach-FL-33411

Fellow south Floridians....I have a list of contractors in my phone with "Do not use" in front of them.  This is more Palm Beach county specific, but I have no problems sharing.  Would love to know who TO use.  I really only have one contract and one handyman at this point which is not good.  

I also have a checklist of paperwork I use for bigger jobs that I can share if you are interested.  Indemnification insurance requirement, contract, W-9, lien waiver, and final and unconditional.  

This is awesome @Jon Huber, but I will be camping!  I already owe @Wayne Brooks at least some coffee :-)

@Account Closed...what do you want?  

And just so I don't get crap, CAP should always be monthly NOI *12/PP. I have talked to some who do not do it like this, which is why I differentiated :-)

@Tristan Wheelock we have to look at where things are right now.  $1975/month and $225K.  

Gross CAP is 10.5%
$1975 *12/225K

Real NOI CAP is 6.5%
$1234.5*12/$225K

$1975
- 197.5  PM (10%)
-  189 Taxes (2268/12)
- 58 Insurance (700/12)
-  98.75 maintenance (5%)
- 98.75 repairs (5%)
- 98.75 vacancy (5%)

= $1234.25

Cash flow is $212.25
$1234.25 - $1022

The above minus debt service @20% down ($180K financed) and 5.5% 30 year amoritzation

If you CAN raise rents and CAN lower the price, then this looks good.  Right now, I'm not sure if I would want to deal with three tenants for $212/month :-).  Just my .02.  

Wayne and I spoke.  Title, realtor and some of me issue.  Loans are interesting!  Thanks @Wayne Brooks!