All Forum Posts by: Garrett Whitlock

How does the cash flow and CoCROI look if instead of househacking the property was fully rented out? If you only plan on househacking this property for a year or two I would argue these numbers are more important as long as you can make the payments in the short term.

Also, if/when interest rates go down at some point you would be able to refinance into a lower rate which would increase your cash flow.

Thanks for the suggestion, I'll check them out!

I'm currently rehabbing my first rental property and I need to replace a few of the windows. The property is 3 bed, 1 bath, and a little over 1,000sqft. 

I've been looking around around the Toledo area for rental grade windows but from the places I've looked at a lot of the options are quite high end. Do most BP members investing in the area use a local window company or use a big box retailer? Also, have you guys found the installation best being done by a handyman or the window company?

I look forward to hearing everyone's responces!

Hi Aruna,

If you are interesting in investing in real estate with little or no money I would check out Brandon Turner's book, The Book on Investing In Real Estate with No (and Low) Money Down. I'm newer to the BP community as well and I found this book, and many other of their books very helpful as I am currently looking for my first rental property.

Best of luck with your journey!

Hello BiggerPockets!

I'm currently looking at properties to house hack as I start my journey into real estate investing. Because I am just starting out I want to be proactive and lay a good foundation that makes it easy to scale up in the future. 

I'm interested in learning if you guys set up a business credit card and a business bank account when not using a LLC. I don't see much of a reason to have a LLC this early on when I plan on being highly leveraged with a FHA loan on a single property (duplex). However, in the future I anticipate that will change and the benefits of having an LLC will be great.

I feel like these financial accounts will make it much easier to track income and expenses especially come tax time. I look forward to hearing your thoughts and experiences.

Thanks!

Thanks for the response @Kris Allen. That’s what I had been noticing with most rentals in the area, but it’s great to have that verified by someone else in the area.

Hi there BiggerPockets users,

I'm starting to search the Toledo, OH area for small multi-family homes to house hack and I want to make sure I have my numbers as accurate as possible at this stage.

One of my biggest questions is what expenses are traditionally paid for by the tenets and which are paid for by the landlord (specifically for multi-family homes).

Thanks in advance,

Garrett