No Money Down Deal Analysis

[Joe Fornasiero]

Looking for input on renting out my primary residence that I purchased with a 0% USDA loan. I've been in the property for over a year. Purchase price $136,500 current value $155,000. Everything in the home is brand new with the exception of the HVAC which I have covered under the consumers energy protection plan. Rent: $1,475 Vacancies 5%: $73.75 Maint 5%: $73.75 Capex 10%: $147.50 Property mgt 10%: $147.50 (plan to manage myself) Insurance: $37.50 Taxes: $217 P&I: $636 Cashflow: without mgt: $289.50 With mgt: $142.50

[Joe Fornasiero]

Brent Coombs ideally my goal would be to find a duplex (purchase with an FHA loan) that would cashflow with both units rented but live there for a year. If I purchase it correctly I should be able to have a very minimal housing expense if any that would allow me to save an extra $1,200 -$1,500 a month towards my next down payment. Once the year is complete I would seek a single family home and put down 5% conventional