All Forum Posts by: Nathan Holt

I am trying to buy my first property to do a house hack. It is currently fully rented but one of the tenants was supposed to move out in late spring. He is refusing to leave. Court date for the eviction got pushed back to September 7th, by this time our lock on the mortgage interest rate expired and went up from 5.125% to 6.875%.

Is this a red flag about the other tenant who I will be assuming management of? Is there any advice for a situation like this?

My wife is feeling concerned about this too since we have no experience or mentors to guide us. 

Hey guys, I am a new aspiring investor and new to the website. I have been listening to the Bigger pockets podcasts for over two years now, and finally decided to get involved on the website. I am currently in contract on my first property. It's a house hack selling for $130,000 off market. 2560 sq. ft. duplex currently being rented for 685. Local comps are between 900 and 1,300/month so I will be raising the rent once we close. After repairing the property should be able to bring in a minimum of $1,100/month per unit. 

Total monthly expenses come out to 

Mortgage: $838.54 (at 6.875%,)

Taxes: $145.83

Insurance: $116.67

Repairs that need done are new paint, drywall repair, new floors, one kitchen needs a new ceiling, new cabinets in both kitchens, window replacement in basement, and the furnace will need changed in the next 5 years. 

We are also getting a 7,000$ grant from the city for new investors which is very nice.