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Updated about 4 years ago on . Most recent reply

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25
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James Z.
7
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25
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Budget for purchasing a rental multi-family home (2-4 units)

James Z.
Posted

Hi, we hope to get advice on how to decide the budget for purchasing a rental multi-family home (2-4 units). Currently, there are three of them on the market in a small area that we are interested in, but their selling prices and potential rental income are different. The lower priced home will use about 60% of our max loan approval amount; the middle priced home will use about 75%; the higher priced home will use > 90%. Would it be safer to purchase the lower priced home, in case of situations like vacancies or tenants not paying rent? Thank you and all advice are greatly appreciated!   

Most Popular Reply

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411
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477
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Rick Martin
  • Rental Property Investor
  • Redondo Beach, CA
477
Votes |
411
Posts
Rick Martin
  • Rental Property Investor
  • Redondo Beach, CA
Replied

@Brynn R. Yes. I think they stopped breaking them out into separate units, but you can total up the rents for the one input on rents. It has been a while. You will only need to decide whether to use the BRRR or Rental calculator.

  • Rick Martin
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