All Forum Posts by: Ali Zantout

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. I work as an architecture designer, so almost the same field but not quite tho  !

I am listening to the MIllionaire investor by gary keller the audiobook on youtube, that pretty much sums up a buy and hold strategy which I am going for. Its over 9 hours so set up time for that its worth it so far for me. Check into Grant Cardone also his input is priceless on Youtube.

Hi there, I am also new starting closing in on my first deal in Kansas city and looking at other deals also, It is a good market to shop around reach out of if you want information on some locations here! good luck

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.

Yes I also want to say thank you for setting this up! I will get couple of my friends with same mindset to attend this meet up. Its awesome to meet other people who want to be successful and also bring people up with them!

Actually the first deal is at a 15 year loan on the calculations, which is usually $100 more than a 30 year loan. 

Okay i have 2 deals I am looking at for my second investment property both deals are 30 year loan, the mortgage price includes insurance and taxes.. 

1)  first deal is 2 houses owned by one person that can be bought in a bundle, both priced at $30,000, they were $34000 and price went down, but the mortgage is calculated on the $34000, its in low income community near 2 colleges in KC, they have tenants in them lease ends in 6 months and have a property manager in place. One is rented for $575/month that brings in $6,900. After mortgage and expenses I calculated for worse case scenario (575-(mortgage=300)-(expected expenses= 80)=195x12= $2340/year. 2nd house rented for $650 brings $7800. Again calculated worst case scenario ( 650- (mortgage=300)-(expenses=80)=270x12=$3240/year. Both per year bring $5580/(expected I put 20 percent down for each plus 2000 for inspection/appraise and some closing cost) (2000+12000)=39.8% cash on cash! so in 3 years I would make my money back and more. 

-opinion= Get 2 houses with tenants there rent might be raised for the $575,both houses were remodeled in 2016, new furnace in both places. 2 houses kinda scared to have if its too much this early for me, holds more capital than I want, but cheaper and management already in place. If I exit in the future might just break even or get some profit.

2) second deal is single family 3 bedroom at $49000 %15 percent down, same area near the college rented at $700 that brings $8400, tenant lease is month to month. I got numbers done on this (700- (mortgage=385)-(expenses=80)=235x12=$2820/year. So 2820/(%15 down + some closing costs) (7350+1000)=33% cash on cash return, so 3 years I would get my money back.

opinion- less capital to put in, more money at the end if more stuff goes wrong, but 1 house and will have to wait longer to get the third property. if tenant moves out I can rent out rooms for college kids even if its 400 a room for the 3 bed. thats 1200 which makes it better deal. would be less stress to manage, but dont have any recent maintenance on this place yet. On exit might break even, but might get the house in low $40000.

Wanting some experienced  advice from investors. I am doing the buy and hold for passive. Both deals are great, just hesitant to pull the trigger on one of them. Thank you guys.

That is amazing !! At your age I say save up as much as possible, Turn to youtube and look up Grant Cardone real estate, it will blow your mind. And dig into Legal entities related to real estate. 

I am still new at investing also, But I am last weeks of closing on my first deal near a college where I live. I plan on living in the basement and renting out the 3 bedrooms upstairs. It was built in early 1900's also. Look around that area and see other prices and how close they resemble it. Before I got into contract with my deal I talked to the neighbors around the area and drove by the property before contacting an agent to walk me through it. Questions to me that matter the most I will ask more upfront is How old are the essential units in the property: roof, A/C, Furnace. and what recent maintenance has been done. One thing to watch out for is the basements in houses that old and foundation. Hope that helped. During inspection and appraisal you will get more information, but its better to get as much information out of it before getting in contract. and see what was the last sale price.

With me I am buying a house for my first deal around a college here in KC, Missouri. I will be living in the basement which is the plan and rent out the 3 bedrooms to students. For me that is cheaper and I close on that deal in 2 weeks, if things go smoothly. But look online actually at "Calculating numbers on a rental property" by Brandon turner the host of Bigger Pockets Podcast. One of the episodes had a person who bought houses around a college and rented out rooms I cant remember what episode is that of the podcast but something to search for on google. It was very informative. And look up " How to calculate numbers on a rental property" by channel hipster investments.