Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 8 years ago on . Most recent reply

User Stats

44
Posts
7
Votes
Gabriel P.
  • Accountant
  • West Melbourne, FL
7
Votes |
44
Posts

House hacking attempt

Gabriel P.
  • Accountant
  • West Melbourne, FL
Posted
Hello again everybody! I am going to check out a duplex in Orange County tomorrow and I want to know a good way to structure the entry into this property. My goal is to use fha financing and house hack this place. The owner is looking for 169,000. He is moving and wants to reinvest the proceeds In another property, not yet identified, using a 1031 exchange. One unit is a 2/1 and the other is a 1/1. The 2 bed unit rents from 720-850 and the 1 bed unit ranges from 640-775. The two bed room rents month to month and the single bed unit is on a 6 month lease until sept. My lease ends in June. the seller has another offer but is looking for cash sooner rather than later for his anticipated reinvestment. I'm thinking if he wants the cash sooner I can get the price down. What is a fair/good way to assess closing costs? Taxes are approx 2,500. I believe current rents are 750 and 650. I welcome all feedback. Thank you!

Loading replies...