All Forum Posts by: Ben Peterson

I may be. I also never mentioned putting down 5%. I would be putting down 20% conventional

 Starting to thing that may be the move. Any areas/neighborhoods you recommend so I don't look in the wrong part of town? lol

Correct, or go way below asking. I virtually toured one side today and it is massive on the inside! 2BR/1.5 bath, double garage per side, full kitchen/appliances. I just can't believe the other side is only $1100 (unless it's not renovated; I didn't see it) and is locked in until 2024.

I feel the clock is ticking to find a suitable place. Ugh!  

 Definitely could check out Cleveland! It's only an hour from family and there are great hospitals; i.e. Cleveland Clinic. I am not as familiar with the CLE area but may need to connect with an agent who is! Any suggestions?

Hi everyone! I'm 26 years old my wife is 29. We have been travel nursing for the last 2 years and have a pretty great cash pile to get started in RE. We were planning on traveling longer, BUT, just found out we're expecting!! Odds are we will need to reel in our wander lust and settle back down where it all started in Akron, OH. This also means we'll be taking huge pay cuts. 

My main goal for us is to find a 2-4 unit (preferably turnkey) and live in one side for a year or so before refinancing and scaling. An issue I am running into in my market though is high listing prices and lower rents not meeting the 1% rule. Those that do meet the 1% rule are value adds that will need more work than I can put in right now. I almost bought one for $220k but realized that particular neighborhood was saturated with vacant units up for rent WAY below what I would need to cash flow (even after rehab). 

I found another more updated duplex in a great area. It is listed for $285,000 and one side is already renting for $1,100 until 2024. Newly renovated; turnkey, double garages etc. If we live on one side we will still be paying $835/mo plus utilities! This seems like a lot for house hacking? Is the asking price outrageous, is the rent too low, or are these situations the new normal??

Thanks!

Cliffs:

-Travel nurses; lots of cash

-Found out we're pregnant! Gotta settle down

-Househacking seems like the best move. Place to live + offset mortgage.

-Having trouble finding properties near me that cash flow/offset mortgage. i.e. still paying 1/2 PITI

-Am I finding bad deals or am I being too picky?

Hi everyone! I'm 26 years old my wife is 29. We have been travel nursing for the last 2 years and have a pretty great cash pile to get started in RE. We were planning on traveling longer, BUT, just found out we're expecting!! Odds are we will need to reel in our wander lust and settle back down where it all started in Akron, OH. 

My main goal for us is to find a 2-4 unit (preferably turnkey) and live in one side for a year or so before refinancing and scaling. An issue I am running into in my market though is high listing prices and lower rents not meeting the 1% rule. Those that do meet the 1% rule are value adds that will need more work than I can put in right now. 

Looking for input though on a duplex I found in a great area. It is listed for $285,000 and one side is already renting for $1,100 until 2024. Newly renovated; turnkey. If we live on one side we will still be paying $835/mo plus utilities! This seems like a lot for house hacking? Is the asking price outrageous, is the rent too low, or are these situations the new normal?? 

Thanks!

Cliffs:

-Travel nurses; lots of cash

-Found out we're pregnant! Gotta settle down

-Househacking seems like the best move. Place to live + offset mortgage. 

-Having trouble finding properties near me that cash flow/offset mortgage. i.e. still paying 1/2 PITI

-Am I finding bad deals or am I being too picky?

Hey guys, I'm totally new to the forum and to real estate in general, but I'll get right into it. My girlfriend and I are travel healthcare workers and make great money each month. It's truly a life hack, so we're not ready to settle down into a permanent home just yet. So in the meantime, I was thinking I could buy a duplex, triplex, or quadplex using an FHA loan to get our feet wet. I have decent capital, about $60k, so I could easily put down 5-10% on a fairly nice multifamily.

My plan: I would "live" in one unit for a year while traveling and rent out and manage the property remotely via a PM company. Only trouble is, I wouldn't be "living" in it physically (I could just list it as my address and pay the rent myself for legal purposes). However, that would leave me with an empty unit. It feels like I'm missing something and would be making it hard on myself this way.

I'd then use the property exclusively for renting, refinance, rinse, and repeat until I can retire.

 Do you guys have any tips or advice to give in regards to financing, property management, or other loopholes I might be missing?

Thanks, 

Ben