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 almost 7 years ago,

User Stats

24
Posts
0
Votes
Griffin Myers
  • Cleveland, OH
0
Votes |
24
Posts

How do you find house hacks that make sense?

Griffin Myers
  • Cleveland, OH
Posted

Where I'm located, a duplex in a decent area is going to run you at least $125k. Fully rented, rents in said decent area might be $1500-$1600/month. Taxes in Cleveland are generally high, with some areas being downright absurd. Assumptions include 10% for property management, 5% vacancy, 5% for repairs, 10% for capex, $75 for insurance and $100 for utilities. Considering those numbers along with a monthly mortgage payment of $620 (on a $125k property), I'm yet to find a deal that positively cash flows, and I've looked at a lot. I know the market is tight nowadays, but how is anyone finding deals? Are my assumptions bad? 

Apologies for the rant - I'm new at this, but it's getting frustrating analyzing over 50 properties and not one positively cash flows (and some people want over $100/door....?).

Loading replies...