Posted by PBoone on May 17, 2000 at 20:18:17:
$800.00 is not bad cash flow IF AND ONLY IF you use a formula to determine the cash flow like
Income x .50 (expenses) - debt service = cash flow
Does your deal still have $800.00 cash flow?
Pat
Good Credit / Low Cash Flow…Help?? - Posted by Travis in CA
Posted by Travis in CA on May 17, 2000 at 16:28:47:
Fellow REIs,
Here’s my problem. By doing a lot of footwork I have located several properties that I could purchase No-Money Down(One 6-Plex would give me close to a $800 cash flow). But working a full-time job my time is limited in regards to property maintenance.
My problem is I have no cash on-hand. I keep thinking about the misc. fees and things which I would need to really get going. Things like paint/carpet and fees on assumptions that I would need.
Things at home are pretty close to the bone because of my family bills(including $1100 a month private school for my kids) and I’m thinking what would I do if something went wrong with the properties.
I’m talking plumbing, water heater, A/C or something like that. The good thing about it is that my credit is good. I have applied for a few low interest credit cards but I would hate to run up a bunch of debt.
Help!! If anyone can offer any words of encourgement or advice I’d really appreciate it.
Thanks,
Travis