All Forum Posts by: Kimberly Best

It has been suggested to me to try Cozy

The agent that showed us appeared to be fairly new, not an investor, and we have not signed with a specific realtor yet. We’ve been looking and even contacted a few from BP, but no responses yet. 

So, I too am new at this. We are in process of house hacking a duplex. What is this Hedlee Amendment?

Thanks

Kim 

Thank you Daniel! That's exactly what we are doing now is seeking a reputable inspector. We are actually in Southeastern area, and this deal truly is unusual and that's why I am interested but proceeding with caution. I appreciate you taking the time to give a newbie some direction. I'm excited to take this first leap into REI, but nervous too! I'll definitely keep you updated!

Thank you. Thanks to your advice, I did request prior years P&L. We have been on Property site and inside one of units. We just don’t have enough experience to know by looking if there are major issues. If we put in an offer contingent upon inspection, How does that work? 

We are looking to purchase our first house hacking REI property. After all calculating with BP calculators, rules , COC ROI, we thought we found a perfect deal, but then this P&L statement came from current property management, and I don't understand that line item maintenance of almost 25K. I've requested more info.
Any thoughts? Should we consider making an offer on this deal with negative net income, or look elsewhere ? 
Thank you for sharing any suggestions! 

A few facts:

2 duplexes total of 4 units 2BR 1Ba each unit. Current rent roll $2210 month 

Asking price 250K

Total investment 10K

Jason Fowler, did you find what you were looking for and purchase a duplex/triplex? If so, how is it going?

To add to this thread, once you get the P&L statement, and you see maintenance costs exceeding profit, would you still consider the deal if COC ROI have potential? Can I requests further documentation for line by item for maintenance cots?

Thanks

Kim

I am so new to this REI, and am trying to gain all the insight and knowledge I can through books, internet, people, and sites like this. What is and are differences in Class assets please?