All Forum Posts by: Peter K.

So I'm new to this real estate business and want to dive in and ready to learn. I have one question that I can't seem to find on Google: Once you bid on a property (through whichever local real estate agent you use), and the Seller agrees on the price- are you legally obligated to buy that property? How does this work? Once both parties mutually agrees on a price (and somehow you- the Buyer- change your mind) is there certain time restrictions on when/how you can back out? I know that once you get a home inspection done on the property and you find things that are broken, etc. you can back out of your offer but other than that you are legally bound to purchase? Someone explain this process? Thank you!

I was actually looking for a calculator/budget sheet such as that you posted. Thanks! Really helpful. And what a great post! 

Hi BiggerPockets community,

I'm just getting started in my search to purchase a duplex/triplex or possibly a SFH and rent out the other unit(s) and/or bedroom (s) so I have nothing coming out of my pocket. This will be a owner-occupied purchase so I'll be living in one of the unit. My question is- is there a breakdown of what I need to factor in? (a list of some sort) to see if buying that said property is worth the money and is a smart investment? (i.e. factoring in vacancy, CapEX, repairs, etc.)

Thanks all!