All Forum Posts by: Stephanie Sicard

@Jonathan Greene Wow, thanks for the great advice Jonathan . You’re absolutely right . I’ve only been analyzing properties on BP but I have not seen any properties and done walk-throughs. I think I started to go through analysis paralysis , so thanks for stopping me! I’ll speak to my realtor about seeing a few properties in person . Thanks again !

@Caleb Brown Thanks for the clarification. The first year is more so about being able to save for my next property. Breaking even or having a low mortgage payment sounds reasonable for the first year. Thanks again for the advice! 

Hi everyone, 

I am a newbie investor and I have been spending a lot of time analyzing deals. I have analyzed deals using conventional loans and have had great results. When I analyze deals using an FHA loan, that's when I start running into issues. When I use BP's rental property calculator, I am constantly getting negative cash flow reports. I know when you house hack you are losing rental income because you are living there, however, is there a possibility to make any cash flow? Or is the 1st year of house hacking more so to help you save, because you will technically be living for free? When analyzing with an FHA loan, do you analyze as if that first year was already over and both units could be rented out?

Thanks for all your help in advance! 

@Kenny Dahill Thank you Kenny ! I will definitely do a little research on the free property management softwares and see which one works for me .

@Anna Sagatelova Thank you Anna , I totally agree ! It is better to start off using them then having to go backwards after I’ve purchased more property .

@Ryan Deasy I’ve actually heard multiple investors say it is better to start off using property management software in order to stay structured and avoid having to take information from spreadsheets and transfer to the software . Thanks for the advice Ryan !

@Victor Buquer Thank you for the advice ! I actually was doing some research and saw a few free ones . I will definitely try one of those to see if they work for me before I invest in the others .

@Bjorn Ahlblad Thank you for the advice. Looking for a CPA will definitely be my next move!

I am a newbie investor and I will be purchasing my first triplex in a few months through an FHA Loan. Do you think it is necessary to start using property management software or could I use spreadsheets to keep track of my income and expenses for now, until I acquire more properties?

Thanks in advance for the advice!