All Forum Posts by: William Montalto

Thank you to those that replied. I reviewed your comments and they all make sense to me. I realized I was using the incorrect calculator and used the correct "rental calc" since this is a turnkey. COC is still in the 7%+ range with leverage and expenses include (mortgage, taxes, insurance, closing costs). I included for 5% each contingency expenses (capital items, maintenance). All other expenses are tenant paid, and this meets the 1% and 50% rule. Home is off market, hence no other buyers. Stable market with home process increases 3% YOY. I understand the ROI is not for everyone, as a new investor i feel this is a respectable return and less chance of a major headache.

Thanks again everyone for the time you took to read and comment. 

Bill 

Hello, I'm considering my first buy approximately $150,000 using BRRRR method. Out of pocket down is approximately $30k. House is turnkey and ready to rent. Based on the BRRRR calculator, I'm sure between 6% and 7% cash on cash return . Compared to the 10 year average of the S&P 500, It's a few points lower. The numbers are conservative. My attraction to this property is turnkey as this is my first purchase. Area is very stable. Long-term rentals are in high demand. Does anyone have a point of view on cash on cash return for the first ? I know there are a higher cash on cash returns but requires lots of renovation and I'm still working to build a contractor team.
This potential buy gets me in the game with a solid investment.  

Thoughts?

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $85,000
Cash invested: $50,000

Fully updated four bedroom two bath split level. Project took a little longer than expected due to slow contractor overall great experience and return for my first flip. Sold for $189,000, 30 percent return after RE fees.. 

Hello friends.  Currently investing in the northeast Ohio area looking for good recommendations on resident screening companies, preferably local , but open to others.  thanks Bill

I am new to BP and testing out the Pro features.  I have also been using Mashvisor for a few weeks longer. Don’t yet have an opinion on user experience but I am using the data as a guide and then attempting to validate by checking Zillow, AirBnB, local listing sell and rental prices. Once I get comfortable with the platform data I may pull back on local research. 

Greg thanks for your reply. I agree with you.  

I asked a similar question earlier today. When I receive a response I will share. 

Hello, I am new to Bigger Pockets. Where is BO pulling the market and deal analysis from? In other words, where are the assumptions coming from? Is BP pulling from Zillow, Airbnb, Rent.com, etc... I realize the data is not exact, but assurance do I have the data output is reliable? I am also experimenting with Mashvisor (similar platform for analyzing). 

Thanks, Bill