All Forum Posts by: Matt Longfellow

Awesome, thanks a ton for the info, Kevin! 

Hey guys! First time home buyer here. Looking at a 5BR, 3BA SFR with plans to house hack it with 1-2 roommates and possibly convert the basement into an AirBnb unit. I looked at the house and definitely needs some simple cosmetic rehab which according to comps would give it a nice equity bump right away. That and at the price I'd be paying could definitely get some nice cash flow so it's an attractive option at this point. That said, there were a couple of things I wasn't sure of during my showing that I was hoping to get some feedback on.

1. A few areas where old pipes are sticking out of the ground. The selling agent told me they were old electric and gas wires.

2. An old vent in the master bedroom

Images are attached.

I'm not sure if these are things to be worried about, or if they are just minor cosmetic things that could be fixed. The seller does seem motivated and the selling agent said he's willing to fix some stuff, and these are the major concerns I had walking through the house. 

Definitely interested in putting an offer in on this house, but want to make sure I know what I'm getting into first!

Any feedback is greatly appreciated!

Awesome, thanks for all the info guys! Everything mentioned makes sense. Appreciate the help! 

Hey all! I'm looking to invest in my first duplex in Columbus, OH and am currently going through the pre-approval process to see what I'll qualify for. That said, my initial thought was to purchase a duplex as an owner occupant and rent the other half to hopefully get all expenses covered. As I've started analyzing properties, I'm realizing it may be difficult to see positive cash flow/ROI on a duplex if I'm living in it as well.

I have seen properties where, according to the calculator, I'll be able to "break even" cash flow wise, but I also won't be paying any rent myself. I currently pay about $712/mo in rent where I live, so I'm wondering how to factor that into the equation when I'm considering an investment property since even if I break even on a property, I'll still be saving that rent money on a month to month basis. 

I guess my question boils down to this: what are the advantages (if any) of owner occupant vs. simply buying and renting both halves out to tenants? Just want to make sure I'm fully informed before making any decisions! 

Thanks in advance!