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Updated almost 2 years ago on . Most recent reply
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ROI on Triplex - Plan to house hack, question on ROI
Hi everyone,
I'm looking at a triplex in Runnemede, NJ. I plan to live in 1 unit (for 1 year, then move on) and rent out the other two units. When inputting the cash flow & expenses for all three units, i get an ROI of approx 15%. When Inputting the cash flow for the 2 units that i plan to initially rent out, my ROI is -58% (so I'd be paying approx. $650/month to live in my unit for the 1 year). So, considering I plan to live in the 1 smallest unit, I don't know how to determine if this is a good deal. That 15% ROI seems great, but I won't get that percentage for at least 1 year. To me, this seems absolutely worth it for the long run.
PS: the unit that I would be living in is a 1 bed 1 bath.
So my question is, considering Runnemede, NJ is a great area, does this seem a good deal? This would be my 2nd cash-flowing property so im relatively new to this. Open to hear any and all opinions!
Thanks in advance!