All Forum Posts by: Jamie Lee Eang

My husband and I are Learning to analyze deals utilizing the rental property calculator on the BP website. When entering numbers, do we include rates for water, sewer, garbage, and electricity? Right now we are looking into both multi-family and single-family homes… I believe the answer varies for each since it depends on if there are meters for each unit. We would like to know how to analyze both kinds of deals, so thank you for helping us understand for both scenarios!

@Joel Calkins Very helpful information!! All saved for reference. Thank you!

@David M. Thank you for all of your information! Appreciate it!

My husband and I are looking to purchase either single family or multi-family home and are currently in the process of analyzing deals. We live in a very competitive market, greater Seattle area, and deals go very fast. In light of this, we would like to know how much we will be preapproved for so we can have a better understanding of financing for when the time is right. That being said, how long does our preapproval last? We also know that we should check with multiple banks within the 30 days so as to not take a large hit on our credit score. Any tips or thoughts?? Thank you!

My husband and I purchased our "longer-term" dream home, which we plan to stay in for about 15 years or so. We decided to venture into real estate about 9 months after this purchase and a recent refinance due to way lower interest rates. That being said, we don't plan on this being our forever home. We don't plan to house hack, but would like to develop a portfolio of rental properties—considering both turnkey and BRRR. We realize we are working a bit backwards now, which leads to our question.. Should we or shouldn't we pay off our current home mortgage aggressively or not? A little about our home as well.. 4 bed, 3 bath, 2,640sq. ft., estimated current value is ~$580-$600k, in a class A neighborhood. Our refinance just went through and we are set up to pay approximately $600-700 more a month towards the principle. We have the ability to likely pay off in 15 years too. Our hopes is to purchase at least a single family home, if not a duplex in the next year. We know we can be creative with finance options, but maybe we would prioritize the extra funds towards cash reserves? Thank you for your thoughts!