[Calc Review] First Multifamily Analysis

[Zachary G Spuckler]

Was curious if anyone had thoughts - we're looking to get into our FIRST multifamily investment and start the BRRRR strategy.

Three big Qs!

1. Is it possible to get a 10% down payment loan these days?  I have accesss to about $30k cash (10k for down and closing + 20k to start reno) and I can put about another 10-15k in reno over the next 6-12 months.

2. Any glaring things I'm missing

3. Beyond the basic clac - what other things do ya'll look at before a deal!

Thanks so much - first post, and excited to jump in?

View report

*This link comes directly from our calculators, based on information input by the member who posted.

[Tim Herman]

@Zachary G Spuckler you are not using the BRRR calculator. You have no capex. 30k doesn't go very far as capex goes. How many units is this. My repair budget usually come about $50 per month per unit. You have no PM costs. Lowest interest rate I saw last week was 7.3% and if you haven't locked the feds are expected to raise the prime between 1/2 to 3/4% at the November meeting. Mortgage rates will go up similar amounts. Any utilities or landlord expenses( yard or snow removal).