All Forum Posts by: Syed Ahmed

Hello everyone,

So going to close on my first rental. Would love some input from the pros. 4 bed, 2 bath

Asking price 53K

Purchase price 43K

Small rehab: 2500

Est. Rent. 850-900

Loan

15% down, 5.9% 30 yr.

Estimating PITI: 400

Utilities(water, sewage): 20

Plan to add 5% for vacancy and repairs.

Estimated cash flow 350-400 per month

Please give me your honest opinion or if I'm missing something in calculation

Thank you

Any recommendations in louisville for a real estate attorney to draw up a rental lease and to use in future for other rental issues?

Thanks

On "landlords insurance policy", should I opt for a loan value only amount or complete replacement value. Of course, big price difference between the two. The home I am insuring is 60k.

My question is, if I opt for loan value only and the house burns down, yes the loan is paid for but what do you do then to the house?

If I opt for replacement value, would it be worth re- building the entire house.

Broad questions, but I wanted to see what the seasoned investors do for their properties?

Thanks.

Thanks

@Wesley W.

Thank you

@Dan Wallace

Yes, this is what I was told

@Justin Kane

My banker is classifying a non owner occupied investment property as a commercial loan.

@Brett K.

Hello Brett. Could I ask where and when this real estate meetup is?

Would appreciate advice on gauging potential rent for a property? Are ghost ads ethical? Single family home. I've seen comparable rentals but not close to my property. Appreciate your input

@Fredie Robinson

Thank you. Are you currently investing in louisville?

@Scott D Burrows

River city bank