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re: Real Estate Investing......... New update pg 7
Posted on 2/19/15 at 10:22 am to sstig
Posted on 2/19/15 at 10:22 am to sstig
quote:
One bedroom places are the ones that I avoid.
same here. without a doubt. Being that they are close to LSU could make this doable though. He's not giving enough info though.
1
Posted on 2/19/15 at 10:48 am to Fat Bastard
what other info do you need?
It is right near mckinley high, a block from highland. That sketchy area that only a single guy would stay in, but an easy bike to LSU and a possibility that LSU or a condo would buy the property 5 years from now.
I would purchase in cash.
It is right near mckinley high, a block from highland. That sketchy area that only a single guy would stay in, but an easy bike to LSU and a possibility that LSU or a condo would buy the property 5 years from now.
I would purchase in cash.
Posted on 2/19/15 at 11:01 am to jsquardjj
quote:
That sketchy area that only a single guy would stay in
You are limiting yourself big time by this statement alone. What happens when he bails? Will you be able to find yourself another grad student tenant? Ask yourself if you would feel comfortable driving to your property at 9pm on a friday night with your wife or children. If the answer is no, it doesn't fit in my plan. But a lot of people make money "shady" area property though.
This post was edited on 2/19/15 at 11:02 am
Posted on 2/19/15 at 11:25 am to stevengtiger
You guys are freaking me out a little on the LLC thing. My dad and I always pay cash for our properties and repairs. Never had an issue with renters (that I know). I usually only get involved with flips, but my pop likes to rent. Should he transfer his properties over to LLC? I would hate for my folks to lose everything they have worked for.
Posted on 2/19/15 at 11:31 am to AUCE05
Just have a big enough umbrella policy.
Posted on 2/19/15 at 12:10 pm to jsquardjj
quote:
what would be considered a good rate of return on real estate investment?
it depends...what's good for one person is not good for another. and, the question is too vague. you have to define 'return' first (i.e. there are many different ways to calculate a return), and simple return without consideration of risk is dangerous.
quote:
what other info do you need?
a lot...how much turnover/vacancy do you expect and how quickly can you get a new tenant in? are there other rentals in the area? if so, how much generally is the rent and has that generally been increasing? how have home values been in that area (i.e. increasing/decreasing)? what's crime like in the area? what's the neighborhood like? do neighbor's keep up with their homes/yards? the list of questions could go on for days.
quote:
That sketchy area that only a single guy would stay in
red flag that would eliminate from my consideration
quote:
a possibility that LSU or a condo would buy the property 5 years from now
this is in complete contrast to your original question about rate of return. this is purely speculative that introduces a lot of other risks. are you in it for the rate of return/cash flow or for a huge payday if a developer wants to buy it five years from now? just like with any other investment, you must have a plan. no offense, but it seems you don't have one. dropping $80k on this place may be the best investment you ever make, but it could also be the worst. define your goals and undertand your risks...once completed, your plan should become much more apparent.
Posted on 2/19/15 at 3:01 pm to roberto
You are right on all accounts.
Just something I came across before it hit the market and caught my attention. Real estate has not been something I have invested in yet so I definitely appreciate the opinions of others who do have more experience, especially those familiar with this particular area by LSU. Always a good time to learn something new.
Just something I came across before it hit the market and caught my attention. Real estate has not been something I have invested in yet so I definitely appreciate the opinions of others who do have more experience, especially those familiar with this particular area by LSU. Always a good time to learn something new.
Posted on 2/19/15 at 6:00 pm to jsquardjj
quote:
Always a good time to learn something new.
all of us will always be learning regardless of age or experience. Always strive to improve.
Posted on 2/19/15 at 7:57 pm to jsquardjj
quote:
Always a good time to learn something new
Absolutely. I wish I had done a little more research and learning before I got involved in my first couple deals. Those hurt.
Posted on 2/19/15 at 11:47 pm to roberto
I own some rental property. The best return on investment so far is this 
Posted on 2/20/15 at 6:08 am to weadjust
You bought it or rent it?
Posted on 3/20/15 at 2:19 pm to eng08
Just closed on my first rental house! 15 year term commercial loan at 4.75%. Excited as hell! Have my contractor starting work tomorrow and should hope to have a renter by 4-15.
Posted on 3/20/15 at 2:36 pm to stevengtiger
Give us the details of the deal. Inquiring minds need to know.
Posted on 3/20/15 at 3:18 pm to juice4lsu
quote:
Give us the details of the deal. Inquiring minds need to know.
2nd
Posted on 3/20/15 at 3:22 pm to LigerFan
I'm interested in picking up a starter home in a college town then renting out when I move on. I'd love to hear details on your stuff too
Posted on 3/20/15 at 3:38 pm to GenesChin
I've been looking in NOLA metro, but there aren't many deals to be had given current RE landscape.
Posted on 3/21/15 at 8:00 pm to Louie T
Posted on 3/22/15 at 8:31 am to stevengtiger
Numbers?!
Pictures?
Come on.
Pictures?
Come on.
Posted on 3/22/15 at 11:15 pm to I Love Bama
Op plz deliver
This post was edited on 3/22/15 at 11:39 pm
Posted on 3/23/15 at 8:20 am to ChiefBowman
My bad yall. Been busy this weekend.
House is in the Shady Grove area in Bossier City very close to Barksdale. Asking price was $110,000. We ended up getting in at $102,500 and splitting closing cost. 1,290 sqft, 4 br/2 bath.
15 year mortgage note: $565/month
Insurance: $55/month
Tax: $90/month
P&I, Tax,Insurance: $710 (ran numbers at $850)
Expected rent: $1,300 (willing to knock down $100 if necessary to get rented)
Going to put about $5,000 in remodel in kitchen and one of the bathrooms. Partnered up with my father to start our LLC and began to look. LLC paperwork was signed about 3 weeks ago and we already have our first house closed and remodeling starts today. We have already began looking for our next house. Goal is to have 5 by the end of the year which looks like it could be very easy to do. Let me know if anyone has anymore questions. Love talking about it.
House is in the Shady Grove area in Bossier City very close to Barksdale. Asking price was $110,000. We ended up getting in at $102,500 and splitting closing cost. 1,290 sqft, 4 br/2 bath.
15 year mortgage note: $565/month
Insurance: $55/month
Tax: $90/month
P&I, Tax,Insurance: $710 (ran numbers at $850)
Expected rent: $1,300 (willing to knock down $100 if necessary to get rented)
Going to put about $5,000 in remodel in kitchen and one of the bathrooms. Partnered up with my father to start our LLC and began to look. LLC paperwork was signed about 3 weeks ago and we already have our first house closed and remodeling starts today. We have already began looking for our next house. Goal is to have 5 by the end of the year which looks like it could be very easy to do. Let me know if anyone has anymore questions. Love talking about it.
This post was edited on 3/23/15 at 8:22 am
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