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Updated over 1 year ago,

User Stats

7
Posts
6
Votes
Keith Mikkelson
6
Votes |
7
Posts

Am I Being a Diva? (deal sourcing with agent & loan officer)

Keith Mikkelson
Posted

First time buyer here - looking to figure out if my expectations are realistic. I'm looking to house hack a single-family or duplex, occupy for 1 year per FHA loan rule, and ideally exit after year 1 with a cash-flowing property.

In my mind, before I consider anything else, I want to know what the total monthly payment would be all-in, and the expected rents to be received from the unit(s). My loan officer tells me payment calcs should be left to him due to rate fluctuations and nuances in taxes across different locations.

Is it too much to ask my loan officer and real estate agent to provide an estimated payment and rent amounts up front? Since cashflow is the ONLY must-have on my list, it doesn't make any sense to me that we'd run around town looking at properties without having an understanding on these two fundamental numbers, but it seems my agent wants to do exactly that. Is this something I can expect my agent and loan officer to do for me? Or am I way off base here?


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