All Forum Posts by: Justin Sherman

@Eric DeNardo thanks! what would successful scenarios look like in the long term? Also the property has a kitchen downstairs which I assume would be considered an adu already which would prevent a second adu if you were to convert the detached garage. 

Thanks Eric. What would a long term scenario that would be worth it look like potentially?

...I guess if we put more down, it could be cash flow positive, but that's a tradeoff. 

Hello - we are looking at a property in the $600Ks, up down house hack. In a great and popular location with rising rents and upside on price with renovations but also that will cost in the short term to improve the property. It would be our second up down house hack, however, with interest rates in the high 6's, it would probably not cash flow after moving out. With 5% down, mortgage all in would be $4700, 10% down $4500/month, 15% down $4300, 20% down $4000/month. The upstairs rental expectation is $2500, downstairs $1600 = ~$4100. Long story short, probably a negative cash flowing property. Seems like with an up/down situation or even a side by side duplex in Denver is difficult to find positive cash flow. Our 1st property we are living in now would positive cash flow if we moved out, but thats because we had a lower rate. Should we stay away or is there reason to consider?