All Forum Posts by: Tanner Kenneth Jenkins

Hey guys I'm a new investor and am practicing doing analysis on properties. I would love your thoughts on this one. 

https://www.realtor.com/reales... 

The property is listed for $320,000 but I hope to get it for 70% of that price($224,000). Rent is currently low and after doing some remodeling I hope to get it to $1,100 for unit 1 and 1,000 for unit 2.

These are my numbers below. I would love any and all feed back/advice you have. 

Duplex-Asking price 320,000

70%-$224,000(what I will try to get it for)

Down Payment-$48,000

Closing Costs(5%)- $9,600

Repair Costs- $20,000

Unit 1- 3 bedroom, 1 bath

Rent- $805

Future Rent-$1,100

Unit 2- 2 bedroom, 1 bath

Rent- $-675

Future Rent-$1,000

Operating Cost

Vacancy-(5%)- $105

Repairs(5%)-105

CapEx(5%)-$105

Utilities-Tenant pays-$0

Home Insurance-47$

Property Tax- $136

Mortgage Payment- $866/per month

Property Management(11%)-$231

Total=$1,595

Eventual Rent=$2,100

$2,100-$1,595=$505 Cash Flow

$505x12 months=$6,060 Yearly Cash Flow

$6,600/60,000 Investment=10% ROI

Hey, I am living in Utah and am currently getting my realtors license. I am done with 30 of my 120 hours. Its looks like within the next couple years I might be moving to Idaho because my family will be moving there possibly. My question is if I do finish up my license here in Utah, how similar is the schooling and exams to other states. Do any of you have licenses in more than one state?

What is a monster house?

@Paul Hamilton

How much should we count property management costs as?

Hey @Clay Boykin the market is getting more and more expensive. A typical duplex is selling for about 450,000. I’m looking to get a triplex just because that seems to be the only/best way to house hack now in this market. Where are you based at?

As a new investor, with little work experience. What are my options to get a loan?

@Christopher Drane

@Lara White

Thanks for the help! 

Would it make any difference to a bank if I had a cosigner with a great job like a parent? Or maybe the rent history for the property I’m buying, if it’s really good?

I am 21 years old and am dropping out of school after two years to become a realtor. I am wanting to get approved for a loan but was wondering if I met the criteria for work history. For the past two years I have worked in the summers and gone to school in the fall and winters. I have read online that banks will take into account schooling as work history. Is that still the case if you haven’t fully graduated? My credit score is a 750 and I have 0 debt. Does anyone have any experience similar to this?

Hey, looking for some help from all my real estate agents friends. I am currently in Real Estate School in Utah. I am looking for some books on being a real estate agent that you enjoyed or also any advice that you wish you had known. Thanks!

Although I am new to real estate investing I have done some job shadowing with Principle Brokers in my area. I was told by them that the MLS is where big complex deals go to die. I would recommend finding a broker or becoming one yourself. That's what I'm doing. I started real estate school a few weeks ago.