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Updated almost 9 years ago on . Most recent reply

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4
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0
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Robert Brown
  • Wholesaler
  • Saint Petersburg, FL
0
Votes |
4
Posts

Help with deal paralysis

Robert Brown
  • Wholesaler
  • Saint Petersburg, FL
Posted

Hey everyone, I just recently came across a house in my local neighborhood for 125k. Its a 4 unit house that has already had minor rehabbing done to it. I also came across the Real estate hacking idea where you buy such a property and live in one unit as your first property, aka rent free. I'm wondering if you guys think this is one of the best ways to start with real estate? Also if this would be a deal even if I bought it at the 125 price tag. I'm assuming I can get at least 600 per unit out of it. I'm also assuming that I can get into this property and by the end of the year use the property as collateral to access another loan to purchase my next multi-unit and do a few wholesales in between. What do you guys think?

Thanks in advance.

Most Popular Reply

User Stats

25
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17
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Aaron Linde
  • Investor
  • Kennewick, WA
17
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25
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Aaron Linde
  • Investor
  • Kennewick, WA
Replied

My only advice - don't "assume" anything.  That $125K 4 unit is gold - only if your numbers are solid!  The numbers might sound promising (depending on your financing terms), but no one can know for sure but you.  Do you have a mentor or trusted realtor that can guide you on the numbers? If not, find one.  Then when it comes time to pull the trigger, the paralysis will be gone!

Good luck! 

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