All Forum Posts by: Chibuzor Alumba

Welcome to BP Joshua. I love the enthusiasm and fire you have. I definitely felt the same way after reading Rich Dad Poor Dad. 

I like how you have your sights set on multifamily properties right off the hop. Do you plan to just make one big cashflowing deal that meets most of your monthly expenses?

Welcome to BP Breana

@Richard Elvin That makes sense. I guess its up to each person to calculate their tax gains depending on their yearly income.

@David Faulkner You have a great point. To the best of my knowledge, the BP rental calculator takes into account three of the four profit centers of REI. The only profit center that gets left out is Tax Savings.

I believe the rationale behind that is that Cashflow, Appreciation, and Mortgage Pay Down are pretty good indications of a good deal, and if we have to consider the Tax Savings because all the other numbers dont look promising, we may be better off analyzing a different property.

A question for you, (I know nothing about this) are the Tax Savings significant enough to turn a bad deal into a great one?

@David Faulkner You are absolutely right. Travis did not call his calculation complete. Rather he is saying that he uses that calculation as a first quick filter to find properties that are not even worth considering

@Ronny Tiburcio Thanks for the link Ronny.

@Travis Dawson That's a really quick way to find worthwhile properties. Thanks for sharing

@Ronny Tiburcio Can you link to the book you mentioned "The book of flipping houses"?

@Ashley Cote Can you link to that blog post please? I would also like to read it. Thanks

Jacob Graul I heard that in the tools section of the BiggerPockets site, there are several calculators you can use to analyze deals (You get to try them out a few times for free, but you have to become a pro member to use them more). 

See https://www.biggerpockets.com/calc for more information.

Hope this helps

@Aaron Christensen Thanks for your very helpful and practical response. Did you ever worry about things like security, or sharing a kitchen, or keeping the house clean, when you rented out a room in your house?