All Forum Posts by: Mario Gonzalez

Hello,

So from my research, i see that many airbnb operators in Philadelphia buy a nice townhome in a b class area and market them for airbnb.

The avrg income is 2200 per month or 29.5k per year plus other income.

Townhomes are around 300k to 350k.

I have 100k for this to work out.

Im assuming it's 20% down and 4% on a 350k will be

$70,000

$12,000 closing cost

$5,000 furniture and etc to get it ready

$5,000 reserves

Total $92,000

Am i missing something?

everyone i spoke to tells me 2 units and up but with airbnb model does single family investments look better now or is it still best to get 2 plus units

what cash flow per door do you aim for that makes a deal worth it?

im using this blueprint as a guide.

7% vacancy / 8% capex/ 8% repairs/maintenance

i know many things vary but im thinking 150-200 per door would be worth it? am i wrong?

looking to house hack my 1st deal duplex been having trouble with using the right methods to come up with the numbers. 

@Gregory H.

this is what im using 7%/5%/8%

@kevin 

@Kevin Whisler

house hacking in north philly, does this deal make sense? cash flowing after i leave the place 1 yr down the road?

hello,

about to put a 10% down @4% house hack in north Philly, here is the numbers. what do you think? CapEx is low cause all major repairs have been replaced/new over the past 4 years.

hello, 

about to put a 10% down @4% house hack in north Philly, here is the numbers. what do you think? CapEx is low cause all major repairs have been replaced/new over the past 4 years.

hello BP, 

i have been researching and reading every book i can for the past few years. i have my finances in order and would like to purchase a property. the goal is to have many rentals like many of you do already.

i live in a expensive state where taxes are the highest and do not want to buy locally here. 

i am look at near by areas like Philly where many signs are telling me its growing which i like. 

i have 65k to use and trying to find a way where i can reach $200/ per door (8% cocr) or more. I have no debt and already pre approved with all docs needed. 

what would be the best move if you were in my shoes? i live at home saving every penny and maxing out my retirement accounts. i strongly want to own property//rental before the end of the year. 

i would not mind house hacking than rent it out after moving out (1 yr) to cash flow or would buying a rental in a cheaper market like mid west be better? how can i start and scale?