All Forum Posts by: Ali Zantout

So this meet up will

Not happen in few hours then ? 

But ya I aimed for 3 bed 1-2 baths, cuz I can always live in one of them, or the basement if it is good enough to clean and actually stay. and rent out the rooms. check out prices for one room in your area, or near by apartment complexes and base your numbers / deposits and rules off of them

@Samuel Thim absolutely man, the podcasts that I felt were good house the by and hold/ house hack were biggerpockets podcasts 36, 43, 48. but any podcasts from them regarding holding and hacking was good, I am going through all their stuff to narrow down the ones that I can always go back to to reference. There was on podcast about one guy who started by college town and got 5 properties there and then moved on to big apartment complexes. And I cant find that one again so for the past week I set out to watch all of the biggerpockets podcast so I am at 55 now. so ya each of them is an hour so I am taking as much information as I can. even the audiobook millionaire real estate investor is good by gary keller, its on youtube and free. so thats a good foundation that worked for me to get me to understand the basics. So hope it helps!

The safest way to do it is to house hack, for me personally, I am closing on my first 3 bedroom house with a basement near a college here where ii live, so will live in the basement and rent out the 3 rooms to college kids/ or friends. And next I am looking at near investment properties with tenants already in place. Look up on youtube how to calculate numbers on rental property on youtube. that to me made the biggest sense. you would be surprised how many ppl or friends that you trust would jump on the opportunity to rent out a room in a big house for 450-600 a month. they arnt going to find that anywhere else. 

The safest way to do it is to house hack, for me personally, I am closing on my first 3 bedroom house with a basement near a college here where ii live, so will live in the basement and rent out the 3 rooms to college kids/ or friends. And now looking at near investment properties with tenants already in place for my second deal. Look up on youtube how to calculate numbers on rental property on youtube. Should give you a good start on the numbers! Hope this helps. And check out Grant Cardone his real estate stuff is amazing, and listen to the audio book of rich dad poor dad, and audio of gary keller book.

@Cody McVay

Hi Cody, so I went to to get my degree in mechanical engineering also, then changed to mechanical engineering technology, machine design. and got my design and drafting degree. 

Now I work at an architecture firm and starting on my real estate. You realize when you get the industry job, you get taxed so much it makes you realize you cant save money to wealth, it needs to be passive. 

The safest way to do it is to house hack, for me personally, I am closing on my first 3 bedroom house with a basement near a college here where ii live, so will live in the basement and rent out the 3 rooms to college kids/ or friends. And looking at near investment properties with tenants already in place. Look up on youtube how to calculate numbers on rental property on youtube. Should give you a good start on the numbers! Hope this helps. Look at a guy names grant cardone and listen to audio books, the rich dad poor dad series. 

But ya I did it conservative and got the degree got the job ( mostly for my parents to get off my back), at 24 I am using my time after I am off and on the weekends looking at deals and networking. So get as much education as possible about your job and the real estate side. You can do it even with working full time.

Hi @John Leavelle, 

I had to do more research and I understand what you mean exactly, I re-did my numbers and yes the result is different. SO take this for example and let me know if I did the numbers right on this one please. My criteria is atleast $100 a month cash flow after expenses and that monthly rent is more than %1 of purchase price. So rent of $700.00 for 49,000 with 16.8% down which is 7350 the mortgage number is calculated by my bank=385.31+(management fee= 10% of rent 70) + ( vacancy= 7% of rent 49) + (maintenance= 10% of rent 70)= 574.13. So (700-574.13)=125.89 cash flow after expenses so 1510.44 a year.  1510.44/7350= .20X100= 20.5% CASH ON CASH. so is that calculations correct?

For me I am aslo new, the safest way to do it is to house hack, for me personally, I am closing on my first 3 bedroom house with a basement near a college here where ii live, so will live in the basement and rent out the 3 rooms to college kids/ or friends. And looking at near investment properties with tenants already in place. Look up on youtube how to calculate numbers on rental property on youtube. Should give you a good start on the numbers! Hope this helps. Look up Grant Cardone on youtube and check out the rich dad poor dad series they help expand the mindset on real estate (Audio on youtube). I am audio listening to Millionaire investor by gary keller its good. But you have a family, look into 4 plex and duplex where you can house hack live in one place with lower down payment than an investment loan and rent out the other spots.

I know multi family units, how they calculate the price of properties is from the cap rate and figure out from there the price it should go, but idk if duplex is the same way.