Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
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 over 6 years ago on . Most recent reply

User Stats

37
Posts
5
Votes
Charles Salumn
  • Staten Island, NY
5
Votes |
37
Posts

Deciding on direction to go next

Charles Salumn
  • Staten Island, NY
Posted
Hows it going guys I have decided to get out of my current residence right now I bought a year ago , but I bought on a whim. I'm not in love with it and the market is super hot. I wouldn't be able to rent the property bbn and I can sell for around 20-30k more then I bought for. Which will net in a 10k loss when all is said and done. I want to start building a portfolio. I am trying to get Into a multi family type setting. My question to you is what formula can I use in order to see if my figure purchase will be a good one being that I am going to live in it. Should my rents pay the whole mortgage or a portion? Would you pay more for a property you would much rather live in then worry about the cash flow ? Ultimately it will be a complete rental as I grow my buisness but wanted to check here

Loading replies...