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All Forum Posts by: Jack Sullivan

Jack Sullivan has started 2 posts and replied 4 times.

Post: Starting Real Estate Career Advice

Jack SullivanPosted
  • New to Real Estate
  • Posts 4
  • Votes 0
Quote from @Chris Seveney:

@Jack Sullivan

Have you looked at getting a job at a development or property management company as an analyst or another position?


 Those would be great options, probably ideal. I just have no "on paper" experience so I feel like that is hurting the applications I'm sending out.

Post: Starting Real Estate Career Advice

Jack SullivanPosted
  • New to Real Estate
  • Posts 4
  • Votes 0

Hi! I've been an avid fan of BP for the last few months and I can't wait to really get involved and find my first deal. Before that, however, I'd like to save up some money and find a career in real estate to better understand the industry. I'm currently 2 years out of college with an engineering degree and working a pretty solid financial analyst job in media. I'm having trouble finding job opportunities/being taken seriously because I have no experience in real estate specifically. I'm not completely sure I'd like to go down the agent route as I don't see myself being an amazing salesperson. Any advice or ideas for quality part-time or entry-level work experience? 

Post: What percentage of monthly expenses should be covered?

Jack SullivanPosted
  • New to Real Estate
  • Posts 4
  • Votes 0
Quote from @Sarita Scherpereel:

Hello. What market are you in? Or where are you looking to purchase? In some areas negative cash flow is very common. As a house hack you'll occupy what would be part of the income when you leave. So when you're living there you're not making those returns. Most house hackers run proformas on what the property yields when they move in and when they move out. Expenses for that again depend on the market. Like in my market, taxes are high so we have to estimate increases. Posting locations will help people in the forums be more specific. 

I'm considering the Orlando, FL area right now but still haven't done enough research on the area to know the tax specifics. 

Post: What percentage of monthly expenses should be covered?

Jack SullivanPosted
  • New to Real Estate
  • Posts 4
  • Votes 0

Hi, I'm looking to purchase my first house hack in the next few months and am working on my system to analyze cash flow for properties. I'm looking to do a duplex traditional house hack, living in one unit and renting the other. When analyzing properties, I'm finding that the monthly cash flow is often negative, which obviously sounds bad but doesn't account for my living for free in the other unit. Is there any rule of thumb or guideline to figure out how much of the remaining monthly expenses I should be covering? Would it make sense to perform the analysis as if I was another tenant and paying market-value rent for the unit I live in? Or maybe analyze each unit separately somehow? Any advice or directions to look into would be appreciated.