All Forum Posts by: Sterling Jackson

I plan on doing an FHA streamline refinance but I suspect that I may move in the upcoming months would you go ahead and do the refinance and then explain to my lender the situation regarding my changing of jobs or should I forgo getting the refinance and just trying to rent out the property with my current loan?

Thank you everyone!

Just purchased my 1st SFR in the Akron Ohio area and now ready to be a landlord! I would love some tips from successful Lanlords out there!

@Michele Fischer Thank you!!

Thank you all!!

Hey BP Family,

I remember hearing on a BP podcast that a common rule of thumb when renting to tenants is to use the 1% rule. I am actively searching for duplexes and found a 2 bedroom 1-1/2 bath (with a basement and garage) that I really like for $119,995, so 1% of that would be around $1200. I honestly don't think that a tenant will be willing to pay that much in rent. The neighborhood in my opinion is a B- grade, and comps in the area are renting for around $850. I guess my question is if I were to purchase this duplex, do I lower the rent or try my luck?

What about reserves? How much did you guys have to save up in order to show the lender you can afford the multi unit in case of an unfortunate circumstance.

Wow thank you everyone!

Hey BP family!

So I am in the Akron, OH area looking to househack a duplex. I was pre approved for 150k, soI am unsure whether i should I look for properties up to 150k to maximize my cash flow and ROI? I would love some feedback, thank you.

Hi everyone I'm in the same boat as NA Waddell! I have great credit, but only a small amount saved. Would any of you recommend starting a LLC to protect your personal assets? What about partnering with a real estate agent? Thanks!