All Forum Posts by: Peter Goeller

           From what I have researched and learned one of the pre screening rules it that a tenant must make at least 3x the monthly rent which is a logical rule that makes sense. but what about an expensive market where rents are $1,200 to $1,500. a month. It seems a little ridiculous to me to require tenants to  make $3,600 to $4,500 a month, That is a very high income requirement that not a lot of people will qualify for, and if they do would they really be renting in the first place. 

Is that 5-10% of the mortgage payment amount.

Hello BP forums, I am very new to this game and i'm in the works of making my first deal ( Im looking for a 3-4 unit multifamily house.) my question is about the payment on your mortgage. should you rely on the tenant's rent in order to pay the mortgage or should you be able to fund the whole thing your self form other sources. 

ok thanks for the advice. I did not see that risk before but you are absolutely right, if its a single family there will be a lot more occupancy risk.

So I  am close to making my first deal and i have been planning to buy a 3 or 4 unit building, living in one and renting the rest but the more I think about it i kinda want to start smaller with renting out a single family house and not living in it any thoughts.

So I am single and currently live with my parents. I say the boston area very broadly, i live half way between boston and worcester. as far as financing goes i know a whole lot about it but I could potentially have a decent amount for a down payment. 

Hello Bigger Pockets Forum,  I am brand new to real estate and looking to make my first deal. I live in the boston MA area and am looking to make a house hacking deal. I am hoping that some experienced investors can share some of their storys with me. Im looking for advice and tips before i jump into it.