Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Real Estate Deal Analysis & Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 9 years ago,

User Stats

68
Posts
12
Votes
Shamus Quirk
  • Real Estate Agent
  • Newburyport, MA
12
Votes |
68
Posts

My numbers work if I don't live in my investment, but not if I do... Is it worth it?

Shamus Quirk
  • Real Estate Agent
  • Newburyport, MA
Posted

I am looking to buy my first property and I found one that I am interested in.  I'll have to owner occupy this property and house hack in order to get the financing I need to get my feet wet.

When I run the numbers fully rented, without me living there, it cashflows over $200 per door per month.  If I was to live there, I would be eating about $583 dollars a month (based on the percentages of one's unit income).

Each unit can rent out for $1400 and my expenses are only $1983 a month (this goes up with a $2800 a month income because the calculator bases its results as a percentage of the rental income at $2800 a month it estimates expenses to be $2,346.  It seems like If I was living there expenses would be the same whether I'm renting both units or one.  Does anyone have a more reliable way to calculate this?) but that includes vacancy rates, Cap Ex, Insurance, P&I, $50 Misc, Repairs costs, Trash, Taxes and Management fees.  I would be self managing to start.  So that is another $115/224 I would save in the mean time depending on the amount of rental income I input.  

My question is, is this still worth it for my first live in deal?  I can get more into the numbers if someone is interested in helping me analyze this further.

Thanks in advance for your input!

Loading replies...