All Forum Posts by: Patrick Fermo

@Greg Dickerson from my research MFH is 2 - 4 units in the same structure which, yes, would be residential. More than 5+ is then considered commercial. My question is more so, would 2 units on the same lot in different structures still be considered multifamily?

Hey everyone - 

I came across a listing I'm interested in purchasing, but I'm curious if the listing would constitute as a true MFH. It's a 3 bedroom 2 bathroom listing, but instead of being divided in the same structure, there are essentially 2 apartments, in 2 structures on the same lot. Would this qualify as MFH? Would my financing strategies of using an FHA/first-time buyer loan still be viable? Any information is appreciated.

Hey Everyone,

I'm trying to run the numbers on a potential rental property deal I found using the BP rental property calculator. The COC return is low, at 2.23%- however this assumes that I'd be paying 48,000 out of pocket, but that in fact is not the case. My plan is to house hack with a 203K loan for the estimated 25,000 in repairs so my only out of pocket cash invested is the down payment and closing costs. So my question is this- is that 2.23% accurate? Or because I'm using financing to fund the repairs, should that percentage be higher? If my explanation isn't clear please let me know so I can clear things up. Looking forward to all of your inputs.

Hey ya'll,

Does anyone on here use Happy Investor? I found it as a potential resource to find possible deals, but I can't tell if it's a reliable source- and of course I'd have to pay to get full details on all of the deals. It's only 18$ a month, so I wanted to ask on here if any one has used it before and did they find it reliable? Have you gotten any deals from it? Thanks everyone!

@Jay Hinrichs How should someone analyze a turnkey company? How do you know you'd be avoiding the next Morris Invest situation?

Hey Ya'll,

I was just wondering what other options there are besides the MLS for finding and analyzing comps for our subject properties? Or do you have to have a realtor who can access the MLS compile a list for you? Thanks in advance, and keep being awesome people.

@Sean OToole Couldn't agree more. It just takes time and practice. Do you do any multi-family investing?

@Sean OToole Awesome thanks Sean! I'll check it out. I like the idea of reverse engineering, almost makes me feel like a sleuth. 

Hello All, 

I'm practicing running the numbers on Multi-Families so that when I cross a good deal I'm able to analyze it quickly and efficiently. My plan is to house hack a 2 unit while renting out the other side, and then after the first year move out and rent both sides. When running the numbers, do you input the values as if you'd be renting out both sides immediately? How do you factor in the loss of rental income in that first year when deciding whether or not you're looking at a good deal? Thanks for the help!

@Yannik Cudjoe-Virgil Oh that's good to know! I'll check those out for sure. I'll start with the free one lol