All Forum Posts by: James Stevens

You would mail your letters to whatever the mailing address is for the property owner.   When driving for dollars, a lot of the time the person that owns that property is not living there.  so, leaving a note there wouldn't do much good.  And absolutely DO NOT stick in into a mailbox!   That is a federal offense!

Here is a link to a podcast that could possibly help you a lot and answer a lot of the questions and worries that you have.

https://l.facebook.com/l.php?u=http%3A%2F%2Fmichae...

@Andrew G Martinez I apologize. I misunderstood that part. I was thinking that you were strictly financing it as an investment property in example b. You are correct. After living there for a full year, you can move out and retain the financing

one mistake that i can see instantly is that in your example B, you will not be able to put just 3.5% down if you are living in one of the units.  You will need 20 - 25% down in that scenario.

Thanks for the feedback @Aaron H., I honestly wasn't sure about the cost of the insurance.  The $75 expense that I put was the number given by Trulia on the estimate of expenses.  As I was typing this reply, I decided to check what the exact same listing would show for the estimates on Zillow.  (Just as a comparison.)  The insurance expense on Zillow showed $114 per month. Do you feel like that may be more accurate?

Also, you had an excellent point on the on the rental income numbers. The plan was to owner-occupy in order to get the FHA loan. So, just knocking out the rent income from the unit charging the least. Would be a hit of $825/month. But, that would only have to occur for 12 months to fulfill the FHA requirements. A VA loan is also an option for a house-hack, because with it I could get 0 down and no PMI.

All very valid points and things to take into consideration. 

@Brandon Turner made a list of the top 20 plus there are many recommendations throughout the forums.  I'll see if I can put a few links in here for you. 

https://www.biggerpockets.com/renewsblog/2013/04/1...

https://www.biggerpockets.com/real-estate-investin...

https://www.biggerpockets.com/guides

https://www.biggerpockets.com/renewsblog/2013/04/1...

View report

*This link comes directly from our calculators, based on information input by the member who posted.

Please help me evaluate my analysis of this 4-plex. Is there anything I missed or that might need to be modified for a better outcome? I ran the numbers on it through both the BRRRR calculator and the Rental Property Calculator, but with the refinance it wasn't pulling enough cashflow or cash on cash return. All input and help is greatly appreciated.

Thanks

JAMES

First Community Title on 31st St. does

Let me simply start out by welcoming you back to the mainland!  I'm happy for your safe return and thank you for everything that you do for this great country.

Now, in reference to your question, we've been discussing this in another thread.  So instead of trying to relay all of that information, I figured it'd be easier to simply provide the link to that discussion.   https://www.biggerpockets.com/forums/86/topics/630...

Once again I welcome you back and look forward to getting to know you.  If there's anything you need,  or are looking for,  just put it out in the forums and somebody will know the answer!   

One of the biggest problems you will find in Killeen is the crime rate.  They have one of the highest crime rates, per capita, in the country.