All Forum Posts by: Steve Medina

Thanks for the feedback!

Hey Braden, It's in the Monroe area. I haven't personally looked at the property and I still need to get an inspection. I plan to head down there in a week or two. It's not in a flood zone. I'll factor those figures in. Thanks for your reply!

Hi, I live in California and the property here is a little out of my budget. I am from Louisiana and still have family and friends there, one of whom is a realtor. My realtor friend showed me a 1400sf SFR on .2 acres. The price is 64,500. I was wondering if I could get some help me see if this is a good deal for a buy and hold. The property does not need any work other than a deep cleaning. 64,500 purchase price 10% down because the loan will be structured as a second home. 6,450. 3,000 closing cost I will be taking out a loan and have excellent credit After the down payment and closing cost, the amount financed will be 61,050. Which is the purchase price and closing cost that I am rolling into the loan. The loan % should be around 3.9. Rent in the area is about $625. Insurance is about $70, and there are no property taxes for a property under 75k in Louisiana, property management of $65. Rent increases about $30-$50 a year. I'm looking to cash flow about $215. This is my first property, so just looking to get some feedback. Thanks for your time!

Let me know the details when you have them. @Steve Medina

That makes sense. Thanks for your comments, I'll look into it!

Hi, I'm just getting started at wholesaling. What should my fee be for locating properties? Is it based on a percentage model?