Posted by camgere on November 07, 2007 at 07:32:16:
Because nobody will ever love my equity like me!
It’s really the property management issue. I’m used to being hands on and keeping things from spinning out of control. I could probably solve this with the right systems in place and starting small and growing with experience. As a spoiled Californian I know little about snow, freezing pipes, basements, septic systems and well water. I’d like to avoid the expensive kind of education.
Your comment is correct “Why don’t I?”
Cash flow areas? - Posted by Eric in FL
Posted by Eric in FL on November 06, 2007 at 06:05:47:
I asked this question months ago and wanted to see what markets people were able to purchase multi’s or single family and achieve cash flow. The phenomenon that is occurring in Florida markets is that there is so much inflated property pricing that the financing in place does not work. Factor in taxes and insurance and forget it. I own several multi units so I understand the “know your market” thing but I have to offer 50 cents on the dollar and they are not “that” desperate yet. I see investors flocking to Kansas City, Detriot, and Indianapolis. I often think when there is an influx of wide eyed investors that spells market problems. Love to hear what others think.
Eric in FL
Re: Cash flow areas? - Posted by James - Michigan Investor
Posted by James - Michigan Investor on November 06, 2007 at 06:56:44:
I’m in Michigan and buying for 50c on the dollar is
too much. Right now, 3 bedrooms for 8-15k is pretty
easy to come by. Rehab costs the same no matter where
you are too, so that’s a wash. I’m north of Detroit by
a few hours and the time to buy will be for the next
All day long (several times a day).
Re: Cash flow areas? - Posted by BigV
Posted by BigV on November 08, 2007 at 09:26:55:
if you don’t mind me asking, James, what is the After Rehab value for these homes? 60K?
Also, $600/mo is this Sec. 8 or is it the going rate? T
Re: Cash flow areas? - Posted by bill
Posted by bill on November 06, 2007 at 17:01:48:
beats me in illinois. 25k great shape no repaires rents for 500/mnth easy.
Re: Cash flow areas? - Posted by camgere
Posted by camgere on November 06, 2007 at 07:38:10:
Kind of puts the $55K I paid for the real estate commission on my rental house in San Diego in perspective. Hasn’t been producing ANY cash flow. Oh well.
Re: Cash flow areas? - Posted by James - Mich
Posted by James - Mich on November 06, 2007 at 17:54:48:
I think that’s called a negative cash flow.
Why don’t you buy elsewhere?