All Forum Posts by: Stan Williams

Thank Keith for taking the time to give me your perspective. 

The homeowner is not in a hurry to sell, so we still have some time to think about it.

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

This deal was stumbled upon while i was providing a separate estimate for his trees.

I have a potential investor/ mentor who is willing to pursue this deal. I like the guy and don't want to waste his time.

I would like to learn by observing the entire purchase/rehab/refinance/rent process, but he is strictly a flipper. Which is fine, but he doesn't share the same desired out come as I do. In his opinion $161,000 is a deal but $165,000 is marginal? I guess if I was flipping then anything less than $50,000 profit may not be worth it.

From a rental perspective I would think that all in at a final cost of $200,000 and having $50,000-$60,000 in equity would be pretty good.

The area where the house is at is in a great location and would easily /quickly rent for $1800 a month. My goal would be to pay the loan down as an investment, I'm not needing immediate cash flow. 

Any Ideas? I don't have any experience with the process. What would be the best way to pursue this and make it worth it for all parties involved. I don't want free help, but I don't want to leave any potential experience/cash on the table.

- Thanks!

Thank you Chris for letting me know that I was "over the target" with my numbers. I'm beginning my investment career and still have a lot to learn.

Rental rate was established by seeing the average rentals locally , and have some room to move it up a little ( $550-$600 ).

Property management % was based on Brandon's walk through video on " How to use this calculator" recommendations. Seemed like a good number to start with.

I'm the average " broke guy that wants to get into real estate". What would be the next few steps to looking into this further?  

My biggest hindrance/ fear is being "that guy" who wastes peoples time because I'm still in the education process, but I still know that experience it the best teacher.

 

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

ARV is an " educated " guess from local online postings

Rehab is based on the listing pictures only

Income is based on 3 rooms rented plus a converted garage.