All Forum Posts by: Devin Ellinwood

I’m looking to buy my first property, I ran the numbers and the cash flow is roughly $500 a month with both units occupied.. but what happens if I buy the Multi-Fam in todays high priced market and rent prices went down in the next couple of years. What happens then? Do I have to just accept that and now own a property that doesn’t cash flow because the average rent prices went down? This is what is holding me back from buying a property in a high priced market, even though the numbers show I’d cash flow right now. Please help me understand this! Thank you everyone! 

@Nancy DeSocio Thanks so much for the response Nancy! That’s a great way of looking at it!

@Anthony Thompson awesome feedback as always Anthony! Thanks so much!

Is it a good time to purchase a buy and hold multi family property even when prices are so high? I would be an owner occupied investor but considering I’d be living in one of the units, i feel like my cash flow would almost be non existent after buying a property at such a higher price than what they were going for a year and a half ago. I live in Rhode Island. Any advice or feedback would be greatly appreciated. I really want to get started but don’t want to put myself in a terrible position right off the bat. Thanks !

Hi everyone. I'm new to real estate investing and I'm searching for a multifamily, but I'm struggling with what information i should really be focusing on when discovering a new market to invest in (total population, number of jobs in the area, etc.). How do you know what the appreciation percent is, in a certain market? Also, what do you even considered a market? (town, city, etc.) So many questions any help would be greatly appreciated, Thanks!

What are the complications and consequences of not living in an owner occupied multifamily property for 1 year but telling the bank that you will be living there for 1 year? Ive been told by multiple people that its not a big deal and that i can get away with it. Has anyone done this or would you recommend doing this to maximize cash flow on your first investment? Please advise! Thanks!

Hello Bigger Pockets community, so I'm not the most educated in real estate yet but that's the reason I'm here seeking great advice from all of you! Should i still be saving receipts from purchases made to improve my multifamily (ex: Paint, Painters Tape, Wood, Etc.) even if i don't own the property under an LLC yet? Or are there no deductions i can make on the house if its not under and LLC? Please help! Thanks!

Thanks everyone for the great responses! You guys are a very big help! 

@Jackson Babcock Thanks so much! I really appreciate it! 

Thanks @Benjamin Aaker !! I Appreciate the feedback!