All Forum Posts by: Austin Lange

@John Leavelle Ohh okay that makes sense I thought this was a multi family unit but its was just a single family so that's what I wasn't paying attention to. Thank you 

John: 

Definitely correcting the multi family vs SFR. it said multi but i believe they were meaning a college tenant rental maybe?

1: Yes that is the asking price (144,900). And I believe the market would be more towards college students because its so close to Valparaiso University.  

2: Good thing to know that if I put less then 20% down I will be paying for insurance.

6: The utilities I was thinking the tents would be paying that.  

Should I always include the expenses of Water/sewage, Electric, garbage, etc? In my analyses?

Ben: Everything you're saying makes total sense and is definitely makes me look at stuff I hadn't even considered before. I see this property as possibly having big potential in the area and what can be done with it to make it profitable. The upper floor does not have AC and I saw some water marks in the photos. There's a lot that needs to be done (to say the least). this is the first house I'm actually going to view with an agent tomorrow. Roof was replaced in 2015 and most of the windows were replaced. 

 The idea for this was to live in one of the 4 or 5 units for a year rent out all the other units and then once the year was up I could move out  and continue to rent it out.

https://www.biggerpockets.com/calculators/shared/653768/88ef608a-bfbe-4a5c-a7eb-f65b59db08da

 Oh my I thought this posted with the discussion! 

Thanks!

So in this Multi family deal I have 4 bedrooms but I would be living in one of them so I only put 3 units in the calculator rented out at 500 each did I do that correctly? Second I'm not sure how accurate the price (of the room) is because all I have to go on is 2 bedroom apt rented out at 750 in the area. than other places have 3 bed rented for 1000-1500 further away. I adjusted the price from 400 each to 500 and went from 8% roi to 12% 

Thanks Jesse!

I don't know if I did this correctly, this is my first time analyzing. Your input would be much appreciated! If you need more details please let me know.

View report

*This link comes directly from our calculators, based on information input by the member who posted.

Hey everyone! 

 My name is Austin Lange Im 24 years yrs old, I currently work full-time at Theatrical Lighting company that works along side local 2 in Chicago to set up concerts around the city, I've been in it for about a year now and Its a great job but I dream of one day becoming my own boss and that assuredly is not the path.  I'm very driven to put in the work to see where this journey on BP takes me.   I joined BP a couple years ago but failed to get started because I was to scared to try and put myself out there. I Currently live in Valparaiso, IN and I'm looking to get into Rentals, Wholesaling, Investing and flipping. Not in that order or all at once but those are the ones i'm interested in. I'm working on getting my goals down to start building towards a great future.

I purchased the ultimate package of "The Book on Investing in Real Estate with No (and Low) Money Down".  

I'd be more than happy to take any advice you have to offer and to start networking! 

Cheers