All Forum Posts by: Account Closed

Thank you to all for responses. what I am asking is some investors use different rent roll calculations to evaluate if the investment is worthwhile. what is a good rent roll percentage compared to purchase price ?

I am looking to invest in a multi-family home in Westchester, NY (2-3 units) 

Does anyone have a formula / calculation to evaluate rent roll? 

Thank you,

Nick 

@adrianchu what about PMI?

I would like to attend some REI courses offered in NYC without having to break the bank. (I almost signed up for Robert Kiyosaki's program for 15k, luckily my wife talked me out of it)

I recently attended an NYC meetup event thanks to @darrensager. I met some great people, learned a lot, and look forward to attend more events like these.

Even though there are numerous amounts of info on BP I tend to learn better in a group/classroom setting rather then just reading a book. I was recommended to check out NY Real Estate Institute: www.NYREI.com

any other suggestions?

thanks

Hi BP famiglia! 

I am a first time home buyer and looking to purchase a multi family home - live in one and rent out the other. Is it better to apply for FHA loan and put only 5-10% down vs conventional 20% fixed loan from say chase bank? Is it worth doing FHA even if have to pay a higher PMI? I really can't afford to put 20% down in the area I am looking so I am trying to explore a more affordable option. I figure by owning a multi family I could lower my monthly payments by collecting rent on the other unit. I was also told certain properties wont qualify for FHA loans due to restrictions.

My goal is to own multiple properties creating monthly cash flow.  Is this too risky for my first investment? Am I going about it in the wrong way? 

I have learned so much through BP and thank everyone in advance for providing their help and guidance. I will certainly pay it forward when I am a successful REI ;)

Thanks for the personal invite @Darren Sager. I look forward to meeting you and other REI!