All Forum Posts by: Tim Haenn

Hi Gina, thanks for the reply! I found your contact info out there and I will be in touch as we've been busy trying to get a property under contract.

Thanks Aaron. Is there anything in particular that you don't like about it? The monthly cash flow? The cash on cash? I should've been more organized in my layout and I included vacancy in OpEx. Updated per month figures below:

Gross Rent = 1480

Effective Rental Income = 1406

OpEx = 355

NOI = 1051

Mortgage + Taxes = 803

Cash Flow = 248

CoC = 7.8%

Cap Rate (using purchase price) = 11.9%

would love anyone's opinion on whether the deal below looks "good" to you....thanks!

Hello BP!

I was hoping that some of the more experienced landlords in Drexel Hill could recommend a property management company. 

Thanks in advance!

What is your best advice to ensure that you're expected rental income/unit is realistic? In the past, as a quick and dirty calculation, I've relied on sq footage - but now that we may be approaching an offer, I'd like to make sure the rent isn't inflated as that that will directly impact NOI. Thanks in advance!

Thank you all! There were some very helpful points of information that would've been hard to suss out on my own. I plan on calling the 401K provider of my employer this week and confirming some of the things noted above as I will probably go that route.

I am in the early stages on evaluating some investment properties. I am currently a homeowner and this would not be an owner occupied home therefore I expect to put 20% down. To fund the 20% I'm considering all options, including a loan from my 401K. I do see another option and I'd like to understand pro/cons. I recently joined a new company and have enough money in my old 401K account (now an IRA account) that could be used to cover the down payment once I move it to my new employers 401K. Is there any added value to converting the IRA to a self-directed IRA and using that instead of a 401K loan? If I'm not mistaken I have one shot at this - if I roll it over then I won't be able to use it as self directed IRA so I want to make sure I'm missing nothing when considering my options.

Articles to help me educate myself are much appreciated as well as comments!

Thanks Greg! We decided to walk away after discussing the issue further with a real estate lawyer.

My wife and I have come to an executed agreement of sale with a buyer however, the buyer has now told us they refuse to sell the home. To demonstrate their resolve they recently asked their lawyer to reach out to our real estate agent. We are first time home buyers and need to decide if we should pursue this further - to do so, we need legal advice. We live in West Chester, PA - any help/tips/contacts would be TREMENDOUSLY helpful!

Thanks in advance!