All Forum Posts by: Jason Parker

@Jonathan Bombaci

Hi Jonathan,

I'm in the Keene area. It's in the south western corner of NH. Its a beautiful little town with a couple colleges and a great main street.

How are things up north?

I think its similar because my expenses offset my income because heating is included.  

I'm thinking if it makes 100-150 per door on a conservative basis then it's a go.  

What do you think?

Its amazing how once you start talking about rental properties and real estate with people you meet, you really find out how many people have done this and how many people continue to do this. And everybody pretty much loves talking about it. The ups and the downs. The sunny days and rain. And the available advice is amazing. A big part of bigger pockets is the mentoring aspect. Find a mentor they say. And people say they want a mentor but cannot find one. I've come across probably 10 people that I've know for 15 years that previously i had no idea had rental properties. And they are just as excited to talk about them as I am. I'm working on number one currently and I have a ton of support. This is exciting and awesome.

@Jason Parker

Heating expenses*

@Robert Hernandez

This is almost exactly the same figures as the property I am working on right now. 4unit. 220k sale price. 3800/mo total rents including the apartment iwill rent for myself. But i think my total expenses including debt service, capx, vacant and manage are about 1000 more. Lots of hearing expenses he in Nh. All said and done it will put better than 100/door in my pocket (in theory) so I am jumping in.

Thank you all very much.  This is a house hack and I worked all my numbers using 220 as a selling price and I am happy with it at that figure.   It is my first time doing this and this is as close as I have been so far.  Im pretty excited to see how all this plays out!

Thanks again everybody. 

thank you very much for the reply. You make a very good point.  

Do you have an idea how strict banks usually are about this? 

If a property appraises for less than the asking price, will a bank still loan the asking price?

Asking 220k.

Appraised 2 years ago at 208k.

Great credit.

Fha loan.

4 unit primary residence.

@Lindsey Spivey

I say let them mow. If they like mowing then let them mow. I got a new mower a couple years ago and i love it. The smell of fresh cut grass is the best smell in the world and a good looking lawn is admired by everybody that drives by. Its a relationship business. This could be the best tenant ever. If he does a great job than even pay him for it. Why not? Hes saving you time and money. Run with it. Believe in the goodness in people.

I think I'm just about in for same situation. I waited a year to build up more funds and now just wish that i had done it last year. I'm pulling the trigger this year.

Like waiting for all the lights to turn green on a hundred mile trip before starting the car.