All Forum Posts by: Larry Geedey

@Jesse Waters also what did you enter in your search when you checked out multifamily homes for sale in my area? I haven't found too many. 

Thanks for the feedback. I was on the fence about multi-family investing and was definitely aware of sacrificing great cash flow for hopeful appreciation. The idea of living for free is very enticing and possibly I may reconsider. From what I have been told the tradeoff between multifamily family investing as oppose to newer townhomes is multifamily investing can produce much more cash flow but with that can come more difficult tenant management, more repairs, and resale is harder because generally will only sell to another investor. I was informed the benefits of townhomes in a nicer and newer neighborhood would be easier and possibly more affluent tenants, less maintenance, and easier resale with appreciation to the value of the home over the course of time. With the townhome comes obvious negatives as well such as the HOA and lack of cash flow. I don't know how much of this actually holds true but it was what I was informed which kind of shaped my initial investing plan.

Hello,

I'm completely new to posting on BP but was hoping for some feedback on potentially purchasing my first investment. I have been looking at properties for months and finally feel that I am ready to go in. The numbers look like:

One time capital fee of $1,152

Asking Price - $159,000

Property Taxes - $3,000 annual

HOA - $96 monthly

PMI- $130 monthly (estimating)

Homeowners Insurance- $60

I have no experience investing in properties but am very excited to start. If I am not accounting for anything or you see any flaws, any feedback would be great. I have been approved for a FHA loan so I will be occupying this property for awhile but my job potentially could take me anywhere so I do want to consider the rents and covering my expenses. Rents in the area go for around $1,400 from what I have gathered.

Thank you very much for your insight. I was out with my realtor yesterday to check out a few more properties one of which I'm strongly considering offering. Do you have any reservations about investing in properties with a HOA?

Hello, 

This is my first Bigger Pockets Forum Post although I have been extremely active in listening to the podcasts for the last few months. I have listened to just about every show and have spent the past few months educating myself as I search for my first investment property. I love the idea of real estate investing and the various approaches one can take. I am still trying to hone a business plan that will fit my abilities but for now I primarily am looking at Townhomes for my first investment. I have heard varying perspectives on investing in properties with a HOA. Should I have any reservations about this fee and investment type in general? As for now I am leaning towards a buy and hold strategy and am looking at this first investment as a learning experience. The plan is to at least cover my expenses and invest in homes in an area that has experienced appreciation over the years. Any insight or advice would be greatly appreciated.