All Forum Posts by: Gabriel Combs

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $65,000
Cash invested: $6,670

Owner house hacking, so only one unit rented currently. Capital repairs made, closing costs, and down payment are reflected in cash invested. Utilities is only monthly out of pocket expense.

What made you interested in investing in this type of deal?

House hack method

How did you find this deal and how did you negotiate it?

Zillow

How did you finance this deal?

Mortgage loan

Lessons learned? Challenges?

Even if it seems like something is bad, don't stress because its either not really that bad or can be resolved.

@Jaysen Medhurst Thank you

Planning on doing some repairs to a duplex over a couple years and I'm trying to figure out if it'd be better to do the repairs faster and refinance at the lastest by the end of the year or if it's not a big deal to pay down 2+ years of a loan you're just gonna refinance... or does paying it down for longer actually benefit the refinance process? Thanks in advance!

Closing on my first property on Friday & if there are any CPAs or Investors that could tell me all the benefits of having an LLC and if I should get one for my first property over just an Umbrella policy? Thanks in advance!

Wanting to take a 2 bedroom with a decent kitchen and small bathroom and turn it into a 3 bed with no dining room/eat in kitchen and thinking of maybe trying to make the small bathroom a little bigger. Is it worth it to make the bathroom larger since it would become a 3 bedroom? Also, do families prefer a dining room over a bedroom? Please give me your thoughts. Thank you!

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I am considering buying a 4 bed 2 bath duplex, (2 bed 1 bath per unit) and house hacking. I am planning on getting an easy-reno loan that gives you 15% of after repair value (if anyone knows about this loan and if you can on use part of the 15% and put the rest back into the loan that'd be great to know). Intrest will be at about 5%. Purchase price is at 68,900, but hoping to get it down between 1 and 5 thousand since it's been on the market for about 2 years. (Any advice on negotiating would be great). There is currently 1 tenant in each unit, renting at 650 for 1 unit and 450 for the other. The plan is to remove the tenant from the 450 unit, put about 5-8 thousand into it, live in it for 1-2 years then investing in my next property (Any advice on how to go about that part would be great at well).

So saying I could get the house for 5 less at 63,900, with an after repair estimate of 95,000 (should I estimate this number higher? The zestimate is currently at 114.6k but as you can see the purchase price is currently at only 69,000), bringing my mortgage payments to 5,034 per year.

If I am able to keep the tenant upstairs, I don't plan on getting PM for as long as they are there (while I still lived there).

Also accounting for them to stay I have a 0% vacancy rate for the first year or two while I lived there.

For the one unit my GOI is at 7,800 per year with expenses such as GM at one months rent for the year (650), grounds keeping at 45 per year, property taxes at 2,000 per year, and HOI at 924 per year, bring my grand total for expenses to 3,619 per year. (Excluding utilities which I will split w my roommate).

Bringing my yearly cash flow to negative 853 dollars per year.

Now this is for the first 2 years

But after, I plan on refinancing, (any advice on this again would be great), moving out and renting that unit for 650.

Adding expenses such as 10% for PM, upping the maintenance to 1,100,

Bringing my yearly income to 3,831 per year.

Thoughts? Thanks everyone who took the time to read and respond!

I am considering buying a 4 bed 2 bath duplex, (2 bed 1 bath per unit) and house hacking. I am planning on getting an easy-reno loan that gives you 15% of after repair value (if anyone knows about this loan and if you can on use part of the 15% and put the rest back into the loan that'd be great to know). Intrest will be at about 5%. Purchase price is at 68,900, but hoping to get it down between 1 and 5 thousand since it's been on the market for about 2 years. (Any advice on negotiating would be great). There is currently 1 tenant in each unit, renting at 650 for 1 unit and 450 for the other. The plan is to remove the tenant from the 450 unit, put about 5-8 thousand into it, live in it for 1-2 years then investing in my next property (Any advice on how to go about that part would be great at well).

So saying I could get the house for 5 less at 63,900, with an after repair estimate of 95,000 (should I estimate this number higher? The zestimate is currently at 114.6k but as you can see the purchase price is currently at only 69,000), bringing my mortgage payments to 5,034 per year.

If I am able to keep the tenant upstairs, I don't plan on getting PM for as long as they are there (while I still lived there).

Also accounting for them to stay I have a 0% vacancy rate for the first year or two while I lived there.

For the one unit my GOI is at 7,800 per year with expenses such as GM at one months rent for the year (650), grounds keeping at 45 per year, property taxes at 2,000 per year, and HOI at 924 per year, bring my grand total for expenses to 3,619 per year. (Excluding utilities which I will split w my roommate).

Bringing my yearly cash flow to negative 853 dollars per year.

Now this is for the first 2 years

But after, I plan on refinancing, (any advice on this again would be great), moving out and renting that unit for 650.

Adding expenses such as 10% for PM, upping the maintenance to 1,100,

Bringing my yearly income to 3,831 per year.

Thoughts? Thanks everyone who took the time to read and respond!

Hi everyone!  So I'm just starting in real eastate investing and was wondering how I would go about investing in my second property. My first property I am in the process of closing on & "house hacking", but I'm wondering what types of strategies there are for starting on your second property and how long I should house hack until investing in my second property. Thank you!