All Forum Posts by: Joseph Kingma

Hi Karl, thanks! Just moved from central Louisiana. Couldn't be happier. :)

Hi! I just moved to the area (teaching at PBA) and am looking to do my first multiplex house hack in WPB or Lake Worth. 

Just wanted to bump this thread because, now that we have moved to the WPB area, we are looking for a new lender. Does anyone have any recommendations?

Thanks for the reply! Glad I'm on the right track, even if I'm just at the beginning.

I'll be working downtown, so I'm hoping to get something that's not TOO much of a commute. Basically anything that is relatively easily accessible to I-95, so we've seen quite a few options in Lake Worth, Del Ray, etc. Hoping to keep the commute under an hour, if possible.

Hi,

My wife and I are moving (to West Palm Beach, FL) and want to buy our first multi-family home and live in one of the unit. I have a question regarding analyzing deals and would greatly appreciate some advice from those more experienced than I. When one plans to live in a unit, should you analyze the deal as if there is a tenant renting that unit, or should you try to find a good cash flow without that extra unit's rent added in? My thinking is that if it is a good deal if I'm not living in it, then I'll be paying a minimal amount to live there compared to buying a single-family or renting an apartment. Then, when I move on to the next deal, I can rent out the unit that I had been living in and will have a positive cash flow and good cash-on-cash return. 

Am I going about this the right way? Also, if anyone has any thoughts about going into a relatively hot market like West Palm Beach with this house-hacking plan, I'd love to hear from you too. Thanks so much in advance!

-Joe