All Forum Posts by: Scott Weaver

View report

*This link comes directly from our calculators, based on information input by the member who posted.

Hey guys, what do you think about the numbers ran on this deal..I know it says rents are at 550, new renters at 575 but after doing a market analysis I included rents at 590 in my analysis which I still believe are competitive with the current market rents.  I am assuming that I can buy this deal at 265k even though it's listed at 319k.. It was last sold for 240k in 2016. I kept cap ex and repairs at 5 % with it being built in 1972 and looks in decent condition, however an inspection may say otherwise.  School districts are average and household income is above average compared to Ohio averages.

@Account Closed IMO I think your vacancy and cap ex might be a little too low (at least for my comfort). For cap ex at the very least, I know most investors and Brandon Turner has mentioned for SFR to consider putting at least $180 a month into cap ex reserves. This would definitely eat into your cash flow and I would put vacancy a little higher too at least 10%. With these numbers especially being out of state, I'd say its a no deal for me unless you can get the purchase price down. Even in your new analysis you made yesterday by tweaking a few numbers you're only at a 6.88% return, and if you had another 100 bucks a month for capex, you're essentially breaking even at best. If you're in it for appreciation and loan pay down though, then maybe that's not a terrible case, but I wouldn't go for it if cash flow is your main goal.

Jason, 

I'm located in Brickell.. would love to grab a coffee sometime and discuss. 

-Scott