All Forum Posts by: Joshua Haynes

@Mack Benson Great explanation. I was going to explain it much longer than what I said but i hit the back button on my phone and it erased all of it.

Gross rent must be subtracted by expenses such as Mortgage and utilities

@Mike Rodriguez (Gross Rents - Gross Expenses) ÷ ( downpayment - repair cost)

Reply if if you've got any other questions

@Christian Trieu

Hey, Senior in HS here. Some tips to learning are gonna be boring but read and listen to podcasts and watch yt on RE. I got alot of knowledge from doing this. But in my opinion the most important thing is consistency. Stick with ot and you'll succeed.

@Luke McMullen

Fellow Senior here going Into Re next year once i get my license. Besides the Wholesaleing, have you thought about buying and holding in states elsewhere or anything else like that.

Also for house hacking. Check out podcast 392. Its a bit recent but they talk about Housing hacking in expensive markets. Anyways contact or reply back. Interested in hearing your thoughts

@Nina Erickson Also I would refinance the Fha after 1 year. This way if you buy undervalue, You pretty much Brrrr a house hack. Maybe I'm wrong. Use the refinance calculator on BP and make sure it works out well. An Fha loan requires more interest and a PMI, so if your able to refinance after a year, you can save earn monthly.

@Nina Erickson

Depends on the market your in. I like the idea of house hacking. You can invest that 700 dollars somewhere else if you househack which can be awesome. Also, side tracking from the original point, airbnbing a house hack can generate a lot extra compared to rental but it's a bit more work.

Anyways like I said before, you can apply for an FHA loan and only have to put 3.5% down payment. This requires that you live in the property for at least a year. After that you can find another place or stay there. You might break even on rent but remember your still saving 700 dollars compared to renting a place. You also have a ton more equity and buying potential with an Fha loan. Then with the extra cash you have each money, you can invest in more re.

Anyways that's how I'd do it. Remember do your research

@Steve Morris Do you think near the end of this people will be motivated to sell on and off the market??? Just wondering your opinion

@Will Fraser Thanks for the response!!!

@Kenneth Brown-Lovelace

If you can get a mortgage at 3.3 which right now is relavant in the us right now you can save like 100 dollars a month. I dont know if you are able to get this but it would double cap rates and make the deal much better looking. Maybe shop for rates if you can. It'll save you