If we did buy a place here...
Do you think my vacancy (8%) and maintenance (7%) numbers are high enough?
-i expect average turnover, this is not near a military base, and my target tenants are not military.
-There is a neighborhood closer to the military center, which is about .5% rent ratio, and would have a very high turnover and usually rents with 10 months leases!! But our military peers keep buying and buying, claiming the ease of finding awesome tenants (because your tenants would be your peers/subordinates with stable high incomes)
What do you all think of an HOA for single family?
-this place is gated, on a golf course, with several pools and community playgrounds
I am very confident in my rent amount and it may even be a bit low. I was going with the whole "low/at market rent for a better pool of applicants"
-this community is also just barely coming out of a foreclosure short sale time. I could try to buy one of those, but i was mainly looking at "move in ready" homes for ease of our big move back to the mainland.
Should we pay anything out of pocket? Or try and roll most of it in the loan?
-most advice on biggerpockets is the "least money out of pocket and still profit" is a decent deal. So, 0 out of pocket, 100% finance and it still cash flows $100/door (unless this rule only applies to multifamily?)
Should we count our "savings" in buying vs renting? $1100-$700(fixed costs) = $400/mn savings
- for those military people, bah here is ~$2,000/mn. And $700 is about 8% of take home pay.
For our debt-
$10k is at 3.5% (will be paid off this year, or could use this money for a big down payment)
$22k is at 0% (thru 3/2016, then fixed 4.75) (currently on IBR with $0/mn payment, interest forgiven)
$23k is at 4.75 (but does not compound, also on IBR)
Any other info, advice or thought would be soooo helpful!!!!