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