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re: Rental Property Investment
Posted on 6/17/15 at 6:51 pm to I Love Bama
Posted on 6/17/15 at 6:51 pm to I Love Bama
Care to share where you got the spreadsheet? I'm sure there are prefabs out there but search can be bitch
Curious to rummage through one. If not, that's fine, I'll spend time digging it up.
Curious to rummage through one. If not, that's fine, I'll spend time digging it up.
Posted on 6/17/15 at 7:29 pm to Teddy Ruxpin
I have two rent houses. Both rent houses have psych patients that attend day programs in each city they live in. Both rent houses have 3 occupants and I get 400/head. Both rent houses were purchased between 40-45k/each. I pay someone on the day they get paid from the government to collect rent. In the process of trying to find my next rental.
The great thing about buying in the 30-50k range is your expenses and especially unexpected expenses are always minimal.
I ran into someone that was already dealing with psych patients in day programs as tenants and at first I was put off completely but now i see it as genius. Those people are used to sleeping in group homes etc and paying that amount on housing. if you have a network of psych doctors like I do I get referrals from them on potentially good tenants because they want that patient to attend the day program of that said doctor. Is it ethical? I don't know but I don't care. To me We are just filling a need that the gubment is willing to pay for.
The great thing about buying in the 30-50k range is your expenses and especially unexpected expenses are always minimal.
I ran into someone that was already dealing with psych patients in day programs as tenants and at first I was put off completely but now i see it as genius. Those people are used to sleeping in group homes etc and paying that amount on housing. if you have a network of psych doctors like I do I get referrals from them on potentially good tenants because they want that patient to attend the day program of that said doctor. Is it ethical? I don't know but I don't care. To me We are just filling a need that the gubment is willing to pay for.
This post was edited on 6/17/15 at 7:40 pm
Posted on 6/17/15 at 7:52 pm to Teddy Ruxpin
I don't mind sharing at all.
Email?
Email?
Posted on 6/17/15 at 9:32 pm to geauxnc0308
Not dumb at all. I think you're right. I'll look into it in the morning and repost.
Posted on 6/18/15 at 3:11 pm to I Love Bama
Thanks Bama,
Will Share
Will Share
This post was edited on 6/19/15 at 1:44 pm
Posted on 6/18/15 at 4:12 pm to Teddy Ruxpin
Bama, do you mind sharing with me, as well? Just starting to get into RE, only about four books deep. haha Looking for my first rental now, and just starting to run some numbers in excel.
This post was edited on 11/30/16 at 11:16 am
Posted on 6/18/15 at 8:41 pm to I Love Bama
Can you send it to me also Bama? That spreadsheet is much better than what I put together.
Bjb26704@gmail.com
Bjb26704@gmail.com
Posted on 6/18/15 at 10:12 pm to LSUTOM07
(no message)
This post was edited on 6/21/15 at 10:02 pm
Posted on 6/19/15 at 5:40 am to SomeGuyFromLA
land lording is a giant pain in the arse. I used to love it when I had good tenants. One bad one will ruin it.
Posted on 6/19/15 at 7:55 am to I Love Bama
Why do you have $850 as the rent amount at the top and then $750 is the amount when you start your 15 year revenue income section?
Posted on 6/19/15 at 8:07 am to lynxcat
Same reason Bama claims 48383 national championships...
Posted on 6/19/15 at 8:33 am to Golfer
why wouldnt you just do a 5yr arm?
Posted on 6/19/15 at 8:50 am to roguetiger15
For some of you seasoned real estate investors, where or what was the best knowledge building activity for you? Obviously it would be hard to pick just one, but was it a certain book? Joining an investment club to get to talk to more experienced investors? Family or friends?
Also, what is you favorite real estate book? I've pretty much read every general "investment" book from Warren Buffets Essays on Corporate America to The Intelligent Investor, but I feel like I haven't found a consensus on the better real estate books with there being so many.
Also, what is you favorite real estate book? I've pretty much read every general "investment" book from Warren Buffets Essays on Corporate America to The Intelligent Investor, but I feel like I haven't found a consensus on the better real estate books with there being so many.
Posted on 6/19/15 at 9:06 am to darnol91
quote:
For some of you seasoned real estate investors, where or what was the best knowledge building activity for you? Obviously it would be hard to pick just one, but was it a certain book? Joining an investment club to get to talk to more experienced investors? Family or friends?
I am not seasoned by any means but I have bought and rented two houses in the last 3 months and closing on a third property today. I read a few books and joined Bigger Pockets website. LOTS of info on there. Through BP, I joined a local REI group and met several guys, one of which has helped us find, negotiate and buy our first few properties. He is my age and wouldn't call him a mentor but he knows what he is doing and has taught me alot throughout the last several months.
Posted on 6/19/15 at 1:15 pm to lynxcat
quote:
Why do you have $850 as the rent amount at the top and then $750 is the amount when you start your 15 year revenue income section?
Please read the post directly after the screen shot. I had been playing around with the excel sheet and some stuff is unlinked.
Posted on 6/19/15 at 1:20 pm to I Love Bama
Sent to those that posted their e-mail. Please forward to anyone else that wants it .
If you find a better one, please send me that as well.
If you find a better one, please send me that as well.
Posted on 6/19/15 at 2:31 pm to I Love Bama
I know I have given you shite before, but that's a pretty nice spreadsheet you have set up and I am glad to see you move on from regurgitating infomercial shite you saw. No one has ever gotten rich with anything Carlton Sheets touches except Carlton Sheets by selling people a load of crap.
Posted on 6/19/15 at 6:57 pm to stout
quote:
Carlton Sheets
Can't believe that dude is still alive. I thought he was in his 60s when I saw those infomercials in the 90s.
I guess I wasn't too far off.
Posted on 6/19/15 at 7:19 pm to SomeGuyFromLA
quote:
Any of you landlords have tips, books, blogs or websites you recommend?
I've enjoyed reading Robert G. Allen's books. He also provides a similar spreadsheet that was posted. I'm 32 looking to do this hard for the next ten years in order to set myself up. I actually stumbled across a guy that we contract at work and he wants someone to go into a trailer park with him.
Posted on 6/19/15 at 8:05 pm to jmarto1
Would appreciate the excel sheet as well... lsutigerfan@outlook.com
TIA
TIA
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