All Forum Posts by: Stephen Franco

Scranton PA here.  Welcome

I am open to chatting on PM. I have done this a little but want more input

this works in my 15% cap rate (after all pads) market of Scranton

I do my math like this

Rent

-10% maintenance

-10% vacancy

-10% management

-hard costs

- $75/door

= amount for mortgage.

Mortgage at 6.5% at 20 years tells me finished value

that minus repairs/updates tells me the max offer

half that is where i start. Except for turnkey

Usually means I'm done for 20-30k/unit. bought/fixed/over. except class A units, that may be 30-40k. but higher rents.

single families. be done by 40-50. but longer term tenants and maybe higher rents.

6 plex and 3 plex in the same area (grade of area) I go 6 plex (less % loss with an empty or a ruined unit)

Neighborhood quality and quality of units vary this.

more info please

For cash flow (rentals and rent to own) can't  beat Wilkes barre/Scranton PA.  

I do my math like this

Rent

-10% maintenance

-10% vacancy

-10% management

-hard costs

- $75/door

= amount for mortgage.

Mortgage at 6.5% at 20 years tells me finished value

Northeastern PA has deals like this.  15% cap rate.

that minus repairs/updates tells me the max offer

half that is where i start. Except for turnkey

Usually means I'm done for 20-30k/unit. bought/fixed/over. except class A units, that may be 30-40k. but higher rents.

single families. be done by 40-50. but longer term tenants and maybe higher rents.

Steve Franco

 sure.  PM me

should. no problem 

PM me and lets trade numbers

I don't do appreciation (in  my market of Scranton).  I believe cash flow is king.  appreciation (can't be proven, just hoped for) is icing on the cake

Locally I get 15-20% after maintenance/vacancy/management pads and all costs are calculated (10% each)

I do it on my phone with the mortgage calculator app, the last time I use mortgagecalculator.org it was there, let me take a look and see what I find

Now that look, I think what I may have done before if I may have captain jesting the purchase price till it matched the payment match what I had available. And that's why I started using my app