First Property in Nashville

[DeMarco Gatti]

Hello everyone,

I recently put an offer on a house for 247k on one side of a newly built duplex. I have a couple of questions. 

Has anyone had any experience with the developer Rhow Properties, llc? On a new construction or management?

My intention was to house hack, refinance and buy some of the other duplexes in the neighborhood as they become available. But my first goal would be to buy the other side of the duplex. What should be my limit on pursuing this purchase if the other side is a 3 bd, 2.5 bath with 1205 SF in Haynes Estates Nashville? The developer said they would like to hold and rent but would be willing to review offers if they are high enough. I feel like there is more equity to owning the entire property as I can make changes to the property as I feel is necessary.

I will be using a conventional loan 5%, what is everyone's experience being able to refinance with under 20% equity with credit over 750? Is that even reasonable to assume I can do within a year? 

[Cody Hartman]

Seems like it will be hard to make cashflow based on that. You should figure out exactly what you can get for rent. As mentioned above, last thing you want is to be in the negative each month. If you're working with a real estate agent they should be able to pull rental comps, just ask.