All Forum Posts by: Rosendo Ruiz

Four plea in my area is being built and going for 489000.

I know rent in that are is going around 995/month.  According to realtor the mortgage would be 2438.  At 995 x 4 = 3980 - 2438 = 1542/month gross rent.  And 18,504 gross rent.  If you use the 50% rule of thumb your looking close to 9252.  

Like I said.  I'm new to all this and I feel like I missing quite a few things.  I would like to use this chance as a way to critique my thought process so I can learn from shortcomings and potential mistakes.

How can one get started on there first deal?  I have a set criteria of a multifamily 2-6 units.  Good neighborhood.  Near my hometown.  But I don't know what else to look for and using the 50% rule, it seems like all the available property would bring a good profit.  The problem is, it seems too good to be true so I'm skeptical.  

I guess my concern is that I'm so new to the game and I'm worried about making a bad deal.

Thank you Paul.

Hey everyone.  Me and my wife are just getting into real estate investing and our goal is to gain financial independence, but first we look forward to learning as much as possible.