All Forum Posts by: Riley A Holzmeyer

@Dalton Dellinger Thanks for the input. I'm happy knowing I'm at least on the right track with house hacking. I just view it as the best method for getting into real estate investing. I'm not looking into actually owning until I have graduate so since last August I have been developing an excel spreadsheet that has grown slowly during that time. I think at this point the most crucial thing for me is to make sure that my analyzation is spot on so immediately after graduation I can house hack in whatever market I move to. In that case I would love to connect and hear your experience with the field considering your experience seems to be my future plans. So meeting in person would be fantastic so I can fully explain my plans and my spreadsheet. Just let me know what you would like to do!

Thanks

@Jaysen Medhurst

Yeah that makes sense and jaysen I’m currently modifying my spreadsheet that I use for analyzation when I finish it up could I send it to you with a deal inputted and have you take a brief look at my methods?

Thanks

@Jaysen Medhurst so even before 80% LTV would you think the PMI payments would be higher than the MIP payments? Also so from what you're saying you would just look at your annual cash on cash return to see if that time before 80% and 100% would be worth a refinance?

Thanks for all the help Jaysen

@Anthony Rodriguez Sounds like a great way to analyze. I will make sure I have all of these accounted for in my own analysis. Thanks for the help!

@Jaysen Medhurst. So after a year and being able to move out would you then recommend to move out and maintain the same FHA loan or to try for a refinance into a conventional in order to lower expenses even more?

So the 50% rule is taking 50% of the rents and saying that will put towards operating expenses. So what is left is used to pay for the mortgage. So when dealing with an FHA loan and having extra payments like MIP. Would what is left after taking the 50% be the principal, interest, and MIP? Maybe it is just my market, but from the properties I have inspected that would be a very hard to have 50% of your rent cover those three payments monthly.

Thanks in advance for the help. 

@Aaron23 

Thank you Aaron. These were definitely topics that were brought up during the visit and it went great. I appreciate the feedback 

Hello everyone,

I have my first visit ever on a four plex coming up and I just wanted to know some absolute must ask questions that I must ask while on the visit. These questions can pertain to anything that must be asked while on a visit of a property.

Thank you!

Yes Sam Murray State. I am currently a sophomore there!

Alright I deleted the utilities and boosted the maintenance. I agree on the maintenance since college students are college students. Also I have not attempted to actually put an offer or negotiate on the price since I am just using this property to learn how to correctly run numbers. I would like to get into contact with the owner just to see what I could offer though. The property is also move in ready, but is slightly dated so I would move into a unit renovated it, then move to another and bump up rent slightly until all are renovated. I am also concerned for the reason as to why this has not sold yet. Thanks for the suggestions its greatly appreciated.