All Forum Posts by: Dawal Limbachia

Hello my fellow investors,

My wife and I are soon going to start our real estate investing journey through house hacking. Our goal is to buy duplex, triplex, or 4 unit multifamily. We have zero experience in terms of dealing with home loans of any kind, what so ever. We are more inclined towards getting a fha loan. Does any of you have past, good or bad experience with fha loan? Who are the top 5 fha lenders? Need your opinion. Thanks In advance.

@Sharon Rosendahl Thats interesting! Appreciate your input.

@Tim Herman Good to know. Thanks for your input.

@David Stromberg Income - Mortgage - Taxes - 5% vacancy - 5% Repair & Maintenance - 5-10% CapEx. Plus, i also do a future assumption of 2% annual growth expenses and 2% annual sales expenses.

Hello everyone,

I am a beginner and my goal is to invest in rental properties and create a steady longterm cashflow. Just for the heck of my knowledge, from past couple weeks I have been analysing properties that are listed on realtor.com and zillow.com using BP rental property calculator. And, every property i analysed is a negative cashflowing property. I have been analysing 5 properties everyday from past two weeks but none of them a positively cashfowing. I want to ask you guys if anyone of you is using BP rental calculator and what do you guys think about it? Thanks in advance.

Antonio, at least you came across couple deals that are positively cashflowing. I evaluated 8 properties last night that are listed on realtor.com and all of them were in negative cashfow. I will have to keep digging until I find a property that is positively cashflowing.

Hello everyone,
In one of the BP podcast, Brandon Turner said that the 2% rule works for him in general. According to him, for example, if the property is listed for $100k, then the expected rent should be at least 2k per month. Therefore, 2% return on a buying price is a good deal. But, here in Chicago and neighboring areas, the 2% rule doesn't make sense unless if I misunderstood Brandon Turner. Here in my area, the return on rental income is more like 1% only if the property is new or in great condition. Otherwise, majority of the time it is even less than 1%. So I would like to know if I am missing anything here or if there are any rental investors who follow the same rule.

Is there a most effective way of studying the local and neighboring market besides driving around. I have been doing a lot of driving around but I thought there has to be other ways I can get more info on the market which could possibly save me more time. Is there a site online I can go and pull up the information? Any local real estate news forum? I want to read about the market as much as I can. Any suggestions? Thank you in advance for your input.

Hello fellow investors. I am new to real estate and I had a question about buying a duplex. My current income range is low to moderate. There's a 90% chance that I can get qualify for FHA loan. Do you'll think it would be a good idea if I buy a duplex and rent one out and self occupy the other. Would FHA allow me to do that? My long term goal is to creat a steady cash flow through rental properties. I am open to any and all kind of suggestions. Thank you in advance for your input.

@Byron Scott this is very inspiring. I am a new investor and thank you for sharing this. It's very motivating.