All Forum Posts by: Account Closed

been waiting to find something and its been 2 years. is it best to just buy a single-family house, fix it up add value, house hack it or keep waiting for a duplex that meets the cash flow numbers after 1 year of living than moving out of it?

I have around 65k now and 0 debt to buy a property to house hack. My location currently North NJ prices here are too high and taxes makes this state worthless to me.

I was thinking Philadelphia since its near by and a major city.

Plan was to buy a duplex and house hack it by living in one of the units bed rooms, rent out the other bedroom in the unit on airbnb and rent out the other unit traditional.

Was to use 20k to rehab the property than cash out after 1yr.

Unfortunately ive done many hours of research and have not found anything were the numbers work out.

Should i revise my plan? Buy a decent duplex turn key and if it works out to near 300 a month be happy with that?

2 years and im impatient now. Not interested in single families properties as i feel duplex is the way to go. Im interested in C class areas and better.

I was also thinking invest out of state but would rather live in the property i buy. Any suggestions on strategy, plan, method?

Im using 7% vacancy, 10% pm, 8% repairs 8% capex hoping for $150 per unit

Ive been analyzing properties but don't know what % is good to use for

* capex

* vacancy

* repairs

And what cash flow is good? Is it ok 150/ per door ?

Im researching conflicting information where some says 200 per door and others say over 100 etc.

Is their a standard ? This is for multi families not single family

Ive been spending many hours and cant get a straight answer

Trying to buy a duplex in Philadelphia and want to analyze the property the right way.

Im looking to put 10 to 15% down @4% rate.

What should i use to calculate vacancy/repairs /capex?

What should the cash flow be per door in Philadelphia or in general?

This will be after 1yr of me moving out of one unit

https://imgur.com/TX7FvIa

property purchase cost $265,000.00 net cash flow

closing cost $5,000.00 total rent $2,200.00

down payment $26,500.00 10% down total expenses $1,830.33

total cost $233,500.00

net cash flow $369.67

total cash down $31,500.00

current rents $1,900.00

cocr

new rents 2bds/1 each x2 cash flow yearly $4,436.04

other income $2,200.00 cash down $31,500.00

total rents $2,200.00 cocr 14%

expenses niche rating B

taxes $208.33 truila crime map 0.5

home insurances $100.00 years with one owner 18

water renter pays market rent lowest $950.00

mortage insurance $54.00 market rent highest $1,400.00

capex $110.00 market rent med $1,200.00

repairs $110.00 sq ft 1778 $157.00 per sqt

vacancy $110.00

mortages $1,138.00

total expenses $1,830.33

rate 4%

Anyone in Philadelphia have 2 to 4 unit properties? Do you use it for airbnb and tranditonal rent? What are some good C class area for house hacking ??

Hey would like to hear feedback from investors with their own multi families properties experience.

I have around 60k and no debt to invest in a rental. I was thinking of these opitions

1. Buy a 3 unit in Philadelphia (from north jersey but taxes too high here) using a fha and fix it up 203k in a ruff area. With 3 or 5 or 10% down.

2. Buy a duplex with 20% down. Try to get 7% cocr with little to no rehab

3. Buy a 2 or 3 unit in a decent/b class area and put down max 50k. Lose couple hundred house hacking.

Is there any other ways or suggestions you can recommend?

Does anyone know a good realtors who are also an investor that has experience and own multifamilies?

Im looking to house hack 2 to 4 unit that cash flows after i leave the place or lose a few hundred living in one unit.

Already preapproved for 415k, if anyone can point me to one, would be great.

Hello all,

Anyone with 2 to 4 unit properties in Philadelphia?

If you had to buy, what areas would you look to for house hacking?

Which sites would you recommend to use to judge the class of a area that is near to accurate?

Trying to house hack a 3 unit that after i leave after 1 year, would cash fliw 200/per door

Hello BP,

Is there anyone in BP who is in the Philadelphia area that invests there on a buy and hold basis? Would love to talk with you,

Thank you very much.