All Forum Posts by: Nishesh Jambudi

Thank you @Matt Martin

Thank you for your valuable comments. I truly appreciate your input and am eager to learn from your expertise. I look forward to further discussions on this matter.

Focus on LTR or rent by the rooms

I agree that I need to make a significant down payment. I aim to find a property that can pay its mortgage from tenants' rent.

Here are the calculations I am doing, but I do not have confidence in the calculations.

Example

House cost is $400K

Mortgage is $2488 (Yearly $29,856, 5 Year $1,49,280)

Assumptions are I have had a tenant for four years

Income: Yearly $30,084, 5 Year $1,23,336

After five years, I will refinance and cash out some money that adjusts the same calculations, which means the tenant's rent pays the mortgage.

Challenge

• I need to find a zip that has a solid rental market
• The zip code should be safe so my wife or I can travel to the property and check when we want to go.

Hello

Searching for first investment property,  I do understand basic calculations. Looking for strong zip code that has good rental history 

Budget max 400K

Min 3 Beds 

Low HOA is first priorities

Let me know if you can help me to get property listing, I will work with you