All Forum Posts by: Jarred S.

Thanks everyone for the responses.

Just wondering how all of you find this data outside of reading the newspapers and talking to agents? Are there specific websites you look at? I know how people feel about zillow and the zestimates but where can I find accurate domegraphic information?

Sorry Justin I always forget this. Eventually, I would like to flip single family homes but for now my focus is on buy and holds only.

As a beginner investor I am in the process of researching my local markets. I picked a neighborhood not far from where I grew up on advice from a successful investor and drove the neighborhood looking at for sales and sold homes in the last 2 years. I am now interested in what the statistics I should be looking at. Median income to median home value, unemployment figures, etc.

If anyone could share some of the statistics or anything on the boring data side that may be useful I would greatly appreciate it.

The funding will come 20% down and the rest from a general mortgage.

We are closing in our purchasing our first rental. We're in the Pittsburgh market and are looking for homes in the 25-35k range. I am wondering what I can expect to pay in closing costs. The state is PA but this being my first time through this I just need a rough estimate on what the costs will be and what exactly is included in the closing costs.
Any response would be greatly appreciated.

Thanks.

What are the things to consider regarding a starting out strategy? Should one lump a good bit of available cash in on one rental or try to stretch that out with 10% down and taking out a mortgage across the first 5 or so deals? I am just wondering when the bank would not be comfortable to lend to someone who has 5 mortgages even though they are providing income. Any feedback would be appreciated.

Jon,

I can't thank you enough for that assessment. I use Excel a lot for work and I thought I was at the least a novice. I need to learn more functions though. After reading how essential they are to some investors on here is one thing but to see it explained so clearly will make me refocus on calculating things better.

I thank everyone for their responses as well. I found each one helpful.

Recently, I have been doing calculations to help myself decide what a good deal would be on a few different homes. While calculating total return on investment I noticed my calculation of total equity accrued in one year is different than several examples I have found online. I was under the impression it would simply be the mortgage amount x 12 months. Can someone tell me if I am missing something in my equity calculation for a given year?

I guess the forum name may not be so appropriate yet but I just wanted to take some time out to thank everyone who posts regularly on this website. Without BiggerPockets I do not know if I would have been as confident in getting out and finding the information I needed to understand real estate more and more. Right now, I have a great partner and have been meeting some great people at my local REIA all thanks to the urging of people from this site. It is great to know so many people are willing to lend a hand to beginners.
I just cannot wait until I become knowledgeable to where I can comment on so many different aspects as many of the people here are capable of.

Thanks again.

How do you break down duplex cashflow? By unit? What I am asking is do you want to make your $100 cashflow on each unit or the whole property combined?
I have heard some different answers. Some of the answers pertained to what way the utilities were set up, if they were split between the units or not. I just wanted some more feedback on this so as always I go to the trusted Bigger Pockets network.

Any input would be greatly appreciated.
Thanks,
Jarred