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TARDIS Money Moves · Track 2

Is this actually a good deal?

Heather Marchant · Uvestly45 minutes

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Hi, I'm Heather.

Home, and who is in itStill owe me this one. Your town, and who is in the house.

What I do for funAdventures. Hiking, biking, and the Ouray via ferrata in July.

How I got into thisAccounting almost had me, until I realized the best version of working with numbers involves sitting across from real people and helping them change their financial future.

And I look at other people's rental deals for a living. I kill most of them.

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Phones out

Scan once. We use it all session.

1Leave the tab open. You will not scan again.

2We are going to play a game. You vote, the room's answer lands here.

3Type a question any time. Put your name on it.

Scan to join

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Real estate investing rocks.

One property pays you four ways at once. And it is the only one a bank will fund most of.

1

A note pays interest.

2

A stock pays price and yield.

4

A rental pays four ways at once.

Not fast fuel versus slow fuel. You need both.

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$200,000 rental. $40,000 down. One year.

The four returns, as money.

Cash flow$2,400

Loan paydown$1,600

Appreciation$6,000

Tax treatment$1,400

Year one, on $40,000 in$11,400

A 6% year if you count the cash flow. A 28% year if you count all four.

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My first rental · 506 Suffolk Court, Fayetteville NC

Photo of 506 Suffolk Court
The listing photo is fine

What I paid$79,900

What it rented for$750/mo

My rate4.75%

Cash flow, day one+$226

That same house todayNeed this number

Cash flow if I bought it todayNeed this number

The house that started all this would not cash flow now.

$750 of rent on a $79,900 house. Three bed, two bath, 1,052 square feet, built in 1981. Try finding that ratio today.

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You cannot plant a tree five years ago.

The deals did not disappear. They moved somewhere you do not live, and they stopped being obvious.

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Let us find out how good you are at this

Three real deals. Buy, or pass?

All three crossed my desk. You get the photo and the numbers, which is all I got. I am not telling you what I did until the end.

Scan to vote

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House A

3 bed, 2 bath

Price$189,000

Rent$1,650

Mortgage, taxes, insurance$1,259

Management$132

Cash flow+$259

Buy it0%

Pass0%

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House B

New construction

Price$245,000

Rent$1,950

Mortgage, taxes, insurance$1,633

Management$156

Cash flow+$161

Buy it0%

Pass0%

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House C

Single family, converted to two units

Price$479,000

Rent, both units$3,545

Mortgage, taxes, insurance$3,054

Management$284

Cash flow+$207

Buy it0%

Pass0%

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Three filters. Every deal.

Everything a seller tells you is a claim. These are the three places you check.

Filter 1

The Market

Costs twenty minutes. Most deals die here.

Filter 2

The Numbers

Costs a few phone calls.

Filter 3

The Questions

Costs days.

One of your three houses died at each one.

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Filter One

The Market

1Will the law back you up? Tenant stops paying in January. Are you back in by March, or by Christmas?

2Who is hiring within twenty minutes? Not the state. Twenty minutes.

3Can those people afford this rent?

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A town nobody is shouting about

Perry, Oklahoma

An Amazon facility going in.

Toro has a plant, and expanded it.

Nobody is writing about it.

By the time the press calls a market hot, the window closed.

I know it because I work there, not because I read it.

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House A

Best cash flow of the three. It failed filter one.

House A

Property managers went vague on vacancy. "Ten percent, but because of this, and this."

I kept calling. One finally told me there were too many rentals already.

Three months empty wipes out fifteen months of that $259.

So I passed. Paper does not know how long the last one took to rent.

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Filter Two

The Numbers

The seller wrote this page. The seller wants to sell it.

Taxes

On the finished house, not the empty lot.

Rent

A signed lease, not a range.

Insurance

Quoted. Never estimated.

Price

Last. Not first.

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A builder I have used for years

"Rents in the $1,250 to $1,450 range."

$1,250 $1,450 $1,350 · the first actual lease

The top of that range was never rent. It was hope, in the same font as a fact.

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House B

Brand new, nothing to fix. It failed filter two.

Taxes as quoted

$204

The bill on the empty lot, before anybody built a house.

Taxes once the house was built

$612

Cash flow goes +$161 to −$247, and stays there.

Another buyer signed it, tried to cancel two days later, and lost $20,000 to a line in the middle of the contract: investors do not get earnest money back.

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Filter Three

The Questions

Separate meters? Is there an HOA? Who mows the lawn? Rent ready, or a list to fix? Special assessments coming? When does the lease end?

Knowing which one to skip is the same skill as knowing which one to ask.

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House C

Two rents, one mortgage. It failed filter three.

On the page

+$207

Positive from day one.

"Are the utilities on separate meters?"

−$213

One meter. The owner pays water, sewer, gas and electric for both units. About $420 a month.

A converted house, so the question was worth asking. On new construction I never ask it.

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"What does it cost me to have you do all that?"

The seller pays my commission. You never write me a check.

Going direct does not get you a better price. A builder will not drop the price for one buyer and lower the value of every other house on the street.

You can do all of this yourself. Some of you should. You are leaving with the checklist either way.

Financing questions are Brendan's. He is in this building.

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All three went through all three filters

What I have right now.

Done May 2026

1515 SW F Ave

Lawton, OK · 3 bed, 2 bath

$189,900

Cash flow

$388/mo

Return

12.3%

Leased

921 NW 87th St

Oklahoma City, OK · 3 bed, 2 bath

$219,900

Cash flow

$382/mo

Return

10.4%

Fully leased

19504–19506 Horseshoe Ave

Edmond, OK · new duplex

$565,000

Cash flow

$996/mo

Return

8.5%

None of these were the flashiest number I saw this month. All three passed.

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Ask me anything.

Use the link you already scanned. Put your name on it so I can answer you properly.

Filter 1

The Market

Filter 2

The Numbers

Filter 3

The Questions

The checklist

Every question I ask, in order.

Or shout out a deal you are looking at, and we will run all three filters on it right now.

Heather Marchant · Uvestlyheather@uvestly.com · 801-885-3887 · uvestly.com