All Forum Posts by: Joseph Hossenlopp

Thanks for all the input! I have shifted gears on my plan- I purchased a LTR (A Triplex) in Rochester, NY. My daughter went in on it with us- she will own her unit, and we are renting out the other 2 units. So, we are landlords now. Still thinking of a STR down the road....

I am looking to buy a Duplex or a Triplex, and have one unit owner-occupied.  What would people's minimum CoCROI be?  Curious, as I am doing many different scenarios.  Thanks for your advice!

Joe

 Wesley,

Thanks for your reply!  I am currently looking at a tri-plex with 1 3-bedroom and 2 1-bedroom units.  Jess would live in one of the 1-bedroom units.  My goals are to help Jess out with getting a place for her (she has no savings for the down payment) and to have rental income for us.  

Joe

 Trevor,

Thanks for your reply!  I am currently looking at a tri-plex, so Jess would live in one, and I would rent out the other 2.  

Joe

Hello!  I am interested in getting a Duplex, Co-owning with my daughter.  She would live in 1/2, and I would rent out the other half.  I would put down the down payment & closing costs, and she could repay her 1/2 of those over time to me.  My question is, for calculation purposes, would I include her payments to me as income?  How about her Mortgage payment? Thank you for any feedback!

If you click on the + on the PDF you can read it!

 Mark,

I am in Rochester and am looking in the Finger Lakes area, less than an hour away. I have not run across any regulations, except the ones that have had an HOA.

That’s great!  I am being pretty conservative then. I just kinda guessed on that number. I did a deep dive- checked out all the lakefront properties of the lakes I’m looking into- then did a spreadsheet with bedrooms, baths, # of beds & # sleeps to compare to the properties I’m looking at. Think I’m on the right track. Pretty competitive out there now but I’ll keep looking. 

I am looking to purchase a Short-term Rental.  I am looking at Lakefront property on Saturday.  I am in NY, so the closing costs are a bit higher.  I did an analysis on BiggerPockets, any feedback would be appreciated!  I did the comps, and properties this size average $300/night.  I figured I could rent out 150 nights/year, so that's where I got the rental income.  Could not figure out how to add the file as an attachment, so I copied & pasted.  Little hard to read, sorry.

 Thanks for the info!  I will definitely look into this further.