All Forum Posts by: Account Closed

Also interested in the answer to this q. 

Preach!

Thanks for all the advice. It's looking like it's a little too much on the price side and a little too low on the down payment side. I'll run the numbers some more with my local investor friends and see what makes sense and if an offer is worth it. 

That does, it brings it back into reality and possibility.

Here's the with & without me occupying one of the 4 units. I'm totally fine with eating $155/mo while living there as it'll be covered when i move out.

But at $144/mo cashflow, that's not even close to the $100/door that is recommended. 

Is it just that I'm not putting enough down or is this prop overpriced? 

Hello all, need help seeing what I'm missing. I'm a loooong time reader/watcher and first time having a seemingly perfect opportunity fall into my own back yard/ neighborhood. 

Been looking for a tri / quad forever in my little town and boom, this morning it hit the market. 

4-plex, all under one roof.

210k sale price

8 bed / 4 bath *Four: 2/1's 700 sqft. No garages or car ports

Rents are $600/each, $2400 total.

Expen$e$:

P&I: $1055/mo (FHA 3.5% down @ 4.6APR for 30 years fixed) *can't put any more $$ down.

Trash: $40/mo.

Prop taxes: $3500/annually or $292/mo.

PMI: $165/mo.

Vacancies: (Est 10%) $240/mo.

Management: (Myself) $0/mo.

CapEx & maint: Estimating 50% right? *This is the sticking point, everyone says its a good rule of thumb but does it apply to quad's? as that's $1200/mo., seems outrageous for a small quad under one roof. Current status of prop is descent, no major cap-ex in sight.

So if that adds up i'm negative $-592/mo.

Help me confirm if this is correct or if i need to not count 50% to future cap-ex & maintenance. 

Thanks!

Welcome, deff came to the right & best source for info! I'm about 30 minutes north of you in Brooksville, in the same boat, goal for 2017 is to "house-hack" a multi-family for myself. 

Cheers!

lol, lets have it! I prob created that as a username or BP, but yeah, when life gives you Gould, you make puns out of it ;-)

@Account Closed Thanks, works now. And yeah, my business partner and the owner of the bar code biz has some varied interests, which usually become my interests by default. Mine though are mainly how to build passive income, thus why i'm on here. And where'd you see my skype name (solidgould) on my BP profile? 

Hey, sounds great, that first file link for the BP fileplace opens, but the download link show's no file found. Any suggestions? 

I'm also looking to get into motivated seller advertising in Fl. 

Gorgeous!