All Forum Posts by: Savannah Lewison

Today I've analyzed a deal that cashflow wise is great! Equity-wise, it would not be such a great idea. The property is priced high from the research I've done, and does need some work. I analyzed with the current price on the market but would only purchase if I could get it for about 10k to 15k cheaper. 

What are your opinions on this? I'm looking strictly for monthly cash flow. Would you purchase a property where you would be underwater in the beginning with a high cash flow return?

Thank you!

Savannah

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*This link comes directly from our calculators, based on information input by the member who posted.

@Travis Wylie Yes! I am planning on house hacking. I am adding a conservative amount for expenses because it can't hurt right? 

@Tim Herman You are right on! I forgot to add for lawn mowing. How much do you recommend? As far as electricity, gas, sewar, and water I will be charging the tenant and putting in seperate meters if need be. 

@Niels Bjørn Toppenberg I am planning on moving to Pittsburgh so because I am not living there yet I did not go through with this deal. I am continuing to analyze deals to get practice. 

Here is a deal I received from a wholesaler this week. Although it seems to bring in less than $200 a door I would still purchase this property (if I was living in Pitt..soon!). Reason being, it seems like a solid property with recent updates, not too much work needed, and expenses are very conservative. Just a note I would be house-hacking hence why such low loan numbers. I added $25 a month for trash and $25 a month for snow... coming from San Diego I'm not too familiar with snow costs. Is that about right?

As always I appreciate such thoughtful feedback from you all!

Thank you,

Savannah

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*This link comes directly from our calculators, based on information input by the member who posted.

Thank you @Dennis M. Do you only invest when it’s $200 a door or more?

Hey @Max Feinberg! Thank you for commenting. It seems like a cool area! I try to stay really conservative with appreciation because it’s so unpredictable. I would not start off using management but eventually I would so I account for it.  

Thank you SO much for sharing. This is really encouraging! I am curious about how you come upon Huntsville and decided to land there? Sorry if this has already been asked. With so many cities in the US I’m just so curious about what made you land on this one?

@Tim Herman @Scott Jensen I will be moving to Pitt and using an FHA to house hack my first property. I found these numbers from the FHA website and use them as a standard.

Thank you Tim for the great recommendation! Thank you too Scott for your input. 

Yes I am using actual numbers. The properties taxes were $575 last year @Scott Jensen  

As always I love and encourage any and all feedback and constructive criticism! It's hard for me to find comps when it comes to multi families. I would love some feedback on this. How do you all find comps when it comes to these? I've been loosely and conservatively using the Zillow Zestimate. Cash Flow is really my reason for purchasing but I would still like to be as accurate as possible with the ARV to ensure I'm not under the bridge right off the bat after the rehab.

Thank you!

Savannah

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*This link comes directly from our calculators, based on information input by the member who posted.

I got the chance to analyze this property that has been floating around through a wholesaler. I'm not opposed to house hacking in the suburbs. Any fellow bigger pockets members familiar with Duquesne?

As always thank you for your thoughtful input,

Savannah

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*This link comes directly from our calculators, based on information input by the member who posted.