All Forum Posts by: Anders Nordberg

Wow thank you to all those who have responded so far! It looks like maybe my price is too high but I will definitely take your advice @Bill B. and talk to a property manager and see what they think.  @Derrick Dill Those are interesting numbers I just used the rent estimator on biggerpockets but didnt realize the Zillow rent estimator would be so different.  @Ryan Hoer its basically a single family house that I built a wall through the middle to make it a separated unit.  I think maybe I should price it closer to a 3 bed then a 4 bed since it only has 1.5 bath.  But @Ryan Hoer id love to talk about investing in Downingtown since this is where I bought my first house hack.  Thanks everyone and please if people have more suggestions I am all ears. 

Currently I am trying to rent out my house hack and it has been over a month and I have yet to have someone apply to rent my unit. Currently the rent is 2000k for a newly refinished 4 bed 1.5 bath.  I am not sure what I am doing wrong because according to the rent estimator for my town Downingtown Pa 19335 2075 is the median for Downingtown for a 4 bed 1 bath.  I am thinking that it is possible the price of the unit since it only has one bath but I posted a add on facebook market place since I was not getting much from zillow and have gotten about 25 responses in a week and a half but after I send them my qualification standards they just stop responding.  So I am not sure what others have done in these kind of situations but I am looking to bigger pockets if anyone can maybe see something I am missing.  I want to get the unit rented before winter since I am sure its a lot harder to find a tenant in the winter.  Thanks everyone for your help. This is the link to my rental add https://www.zillow.com/homedet...

Currently I am trying to get more focused in my real estate investing by picking a particular market to invest in.  I am about to sell my property and am looking to redeploy my earnings in the better market around me.  It would be a house hack so it would have to be relatively close to work which is Malvern PA a suburb outside Philadelphia. (I work from home due to covid and could be sent back into the office at any point).  I am trying to find a tool on bigger pockets to either screen or find the best markets in a 40 min drive from me.  Does anyone know of any tools that would show what markets near you are good markets, ie. rent growth, appreciation, rent ratios etc?

That is exactly my thinking is to redeploy the capital into a better deal. Thanks for your insight!

Hello BiggerPockets World! My name is Anders Nordberg and I am a newbie investor near Philadelphia PA.  I Bought a House Hack this may which was NASTY.  However after tearing up the carpets with fossilized milkshakes in them and doing other cosmetic repairs to the house it is starting to look great.  I bought a 5 bed 2.5 half house zoned single family house and I have changed the zoning to be a duplex with a 4 bed 1.5 bath unit (I know not great bed bath ratio one of the bedrooms is likely to be an office) and another 1 bed 1 bath unit.  I would live in the 1 bed unit and have a roommate that has already agreed to pay 600, the other side would rent for approx 2000 dollars.  After running the numbers (vacancy, mort, cap ex, etc) for the house hack I would receive a net cash flow of 1,700 per year thats 141 a month but if i include the fact I would be living rent free it would be net gain of 900 per month or 11,000 roughly per year.Also for arguments sake if I just rented it after the year I live there I would be making approx 6700 per year or 550 a month with a rent of 2900 per month for the duplex.  My plan was to do a house hack and save up for the next one.  However after all the work I have done the house has practically been flipped as I have put 30,000 worth of repairs into the house 20,000 was mine and 10,000 was sellers.  Also I put 10,000 as the down payment fha mortgage but no pmi for this house and as of this month have 266,000 on the mortgage which is 1700 per month.  After speaking with my realtor he stated that it would be "very possible" to receive 350,000 for my first house hack.  Now any comps are hard to find in my area because there are few duplexes but the few there are sold for 375,000 approx but they were around 1800 square feet buy mine is 3800 sqft.  If I sold for 350,000 id have a gain of 84,000 minus closing costs of 10,000 and taxes at roughly 25 percent and id have 55,500 roughly net and after the 30,000 I have invested I would gain 25,500 or 85% coc return.  If my projections are correct for rent then it would take me about 2 and half years to make up for the gain i have made over the past three months if I house hack it.  I am leaning on the side of just selling it but wanted to see what everyone thought about this.  Also looked into BRRRRing deal but my ltv is so high now I could not to cash out refi.  Thanks so much I know this is a lot!