All Forum Posts by: Account Closed

i am doing heavy amount of research and feel like inflation will grow in the next 2 years so i would like to buy some real estate rentals and a primary for a house hack. 

many have said all markets are pretty much the same that most are selling high and dont really cash flow but breaks even. which i do not like but the plus side it pays down the property to gain equity. 

i want to be wise with the funds so my idea is to buy a primary while also keeping an eye out for a rental and buy both in the coming year.

if i buy a rental before primary it could affect my DTI and mess up financing for a primary, i could be rushing things but i do not want to make mistakes.

i have read every book and ready to be a landlord not a issue. 

i have a good amount in index funds and max out retirement accounts. 

any tips on best use of my funds or what steps to do first in regards to rental or primary first then next this that etc, im not into REITS just physical rentals

@Taz Zettergren hey, yeah its in the top 10 markets from the last 7 sites i checked. If it would be hard to get 8% cocr then what type of cocr should i expect then ? i wouldnt mind a lower one as long as i have some sort of cash flow to come in, in case of repairs 

i am in the research phase on investing in a rental single or duplex, have 76k total for a down payment + closing cost etc.

i am aiming for 8% cocr after all cost, i don't know the market as i am in north jersey and looking for a primary duplex here.

here is what i am aiming for

5% capex 5% repairs 8% vacancy 10% PM,

purchase price 325k max with financing 20 to 25% down turn key.

would like an experienced investor/agent with many rentals for help and suggestions on whats a good investments.

@Rich O'Neill i cant think of a BRRR method until i own a primary because the BRRR might affect my numbers for a personal primary loan and much more risk/funds.

i want a turn key and happy with anything over 8% after all cost including 5% repairs 5% capex 10% pm 8% vacancy 

i will keep looking at the other better markets where growth is happening but PA is def something im into seeing how it is very close by towards me. 

ill hit u up if anything

@Rich O'Neill hey thanks for the comment, i was looking at philly since its a close market to me but its full of crime and horrible news with blocks being different from one another so close by and the PA transfer tax really sucks being costly. 

its actually my very last backup market. i do not know a lot of the market there yes but when i visit i just see slow progress and slow job growth. i could be wrong, what plan would be best if i have 75k for a 8% cocr after all cost and duplex?

hello, 

i have 170k for RE, i am located in North jersey looking for a primary 2 family 100k for down payment, closing cost etc.

the 70k left over i want to use in a out of state rental single or duplex aiming for 8% cocr. 

im not sure if i am being unrealistic in this market but would love advice. 

the states/cities i am looking at now is

1. dallas TX

2. Philly PA

3. Tampa/orlando FL

4. Tennessee

i am not sure which one i should invest in and if i should wait till i get a primary home or do both in a year. 

im living with family now so no rent. 

Oolk

Im analyzing deals and found a duplex 4 bedrooms 2bd in each unit. Cost is 285k im not sure what the closing cost will be im estimating the following Purchase price 285k Closing cost 6k Rehab 15k @4.75% conventional Down payment 5% 15k I dont know what rent for the area but i look and see maybe $1400 each unit Im doing $80 for water per month $125 insurance month $200 repairs per month $300 taxes per month $1487 Mortgage $700 plus Cash flow Am i missing anything ?

@Jeff Brower north NJ property taxes kill cash flow. The new 10k tax cap hurts too and pricess dont make sense here 430k 3 family property tax 13k in the hood. Thats how prices are looking

@Jason DiClemente sorry im planning to buy a 3 unit house rent the rooms out or airbnb it while living in one room. Commute to NJ for work and live in the house as my primary residence but 3 days out of the week ill be staying in NJ