Running The Numbers - Newbie Help

[Robert Leonard]

Hi everyone,

I am a relatively new real estate investor. I have completed one deal, and I am sort of in the middle of a second deal (house hack, kind of), but for both of these deals I didn't run the numbers as I should have. Both of these transactions took place before I discovered BP and before I really invested in my REI education. I was lucky on the first deal to have made a profit, and the second deal is looking like it will be profitable as well, but as I have learned, I need to run the numbers.

I am looking to scale my business and take my first steps into multifamily, but before I do that, I'd greatly appreciate assistance and opinions on the numbers I ran for a deal I recently found. It is a two unit multifamily property in an area that I am quite familiar with; it is only about 3-4 miles from my childhood home in the town that I lived in for 22 years. It's in a nice area and a good school district. My numbers seem to show it would earn about $400-$500 per month in cash flow. I would like to follow the BRRRR strategy on this deal, if I were to pursue it, and I need to fund this deal with private and/or hard money.

I would greatly appreciate any feedback you may have on these numbers, this property, this deal, funding it with hard money, etc. I'd like to see if I am heading in the right direction. Thanks for the help - I really appreciate it.

Robert

[Ed Matson]

And, I agree that posting the actual property address is not a good idea. Doesn't matter if you are ready  to make an offer now or not.  You are still doing work on the deal.  Why do the analysis and let someone come in and snatch it up?