All Forum Posts by: Mikael Winkler

I'm currently looking for my first investment, a multifamily 2-4 unit. Is there a range I can generally expect per door?

Welcome to BP!!

Welcome to BP, Ryan! I'm new myself, and BiggerPockets has been an absolute wealth of information. Yes, If you have any questions about Columbus markets, David can definitely help you out. I've been working with him recently, and especially for a novice investor like myself, he has been extremely helpful.

Good luck!

@Allen C, yeah property tax can definitely affect cashflow. That's pretty much what's killing my cashflow potential on a duplex. I've thought about a 3 or 4 plex for that reason. More units to offset the expenses. Anyway, good luck in finding a property!

@Mike D'Arrigo, I'm newer, looking for my first investment. As my portfolio grows, I want all my properties under an LLC. For my first deal, though, I'll most likely use BRRRR. Would it be most advantageous to move the property to the LLC after the refinance?

Lance,

Thanks for commenting. Yeah, with an OO duplex my realistic goal is simply to "live for free" - I understand even with a larger down payment it will be difficult to cashflow.

The reason I was going to utilize FHA is that I don't currently have that much upfront capital for a conventional down payment. FHA would allow me to get into the property and the rehab/refi would get me into a conventional mortgage. That's just how I'm leaning now; however, I may just try and save for the larger down payment. We shall see!

Hello all,

I have a quick question about the BRRRR strategy. I am planning on buying my first owner occupied duplex in the near future with an FHA 203k loan, allowing me to roll rehab costs into the mortgage. After running numbers on a handful of properties, I'm seeing it's obviously very hard to break even on a duplex under FHA terms, much less cashflow, as there's only one unit producing income. So, I then plan on getting the property rented, reappraised and refinanced into a conventional loan.

My question comes in how that works. By refinancing into a conventional, are you essentially pulling the increased equity of the property, after refi, out to use as the down payment of the conventional loan? 

Thanks everyone!

Thank you all for your input. I will certainly get in touch with a handful of agencies to see what they offer. Doing all of this one step at a time, definitely a learning experience!

Hello everyone,

I'm in the market for a small multi family investment property (most likely a duplex, no larger than 4 units) and need some insurance help. Quite frankly, I have no clue about how insurance covering a property works, especially in regard to a multi family. I would really appreciate any input and/or reading material, as I want to gain an understanding before I make a purchase. Thanks in advance!

@Chris Gliatas welcome to BP!