All Forum Posts by: Nicolas Botia

@Bryan Mitchell

Down payment will be $7,700 (3.5%). And I did include all expenses. 5% vacancies, 5% repairs, 7% Capex. I also included $150 for utilities and $25 for garbage.

But what about all the money that I’ll be saving? Right now I’m paying $1,460 in rent and if I buy that duplex, I’ll be paying probably $200-$300 out of pocket.

Is that something that I should consider or it should always cash flow as a house hack?

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@Patrick J. 

Can you please elaborate on that? Do you mean like networking or cold calling?

I'm thinking about house hacking for the first time with an FHA loan 3.5% down.

There’s a duplex that someone is selling me off market at $220k in a very good area in Tampa, FL (West Tampa is the area). 2/1 each unit and the rents are usually $950-$1,000, separate electric meters, one water meter. Taxes are $2,200 and insurance is $800/yr

As a cash flow deal it makes sense, it shows $224/mo cash flow and 11.98% cash on cash. My question is: Is this still a good deal if I decide to house hack it for a year?

I have 2+ years in experience with wholesale and being an acquisitions manager. It’s getting more difficult to find good deals for my buyer so I want to focus on the retail side and represent sellers/buyers. What tips can you give me to start getting more clients?

Hey everyone.

I want to buy muy first property and house hack it.

I found a duplex in a very good area for $220k. Each unit is a 2/1 and it has separate electric meters. I will be responsible for water.

Please let me know if this would be a good deal/investment.

Numbers:

Purchase price: $220k

Rehab: $15k (estimate for appliances and cosmetics)

FHA loan down payment: $7,700

Closing costs: $5,000 (estimate)

Mortgage/mo: $1,375 (PMI and taxes already included)

I will live in one unit and rent the other one for $950-$1,000.

Please let me know what you think and if it still be a good deal after I move out so it can keep cashflowing.

Thanks in advance!