All Forum Posts by: Varun Khatri

Thank you @Chris Seveney

I have thought about those scenarios. I think I will be ok for # 1 and 2. 

#3 If rates stays same , I will plan to stay until the new home is rentable

#4 Negative Equity only matters if I plan to sell this house. But I am looking to stay long term if needed.

#5 RE investment for diversification. 

 Hi, Thank you for response. My strategy is to keep it for long term and create equity. I understand I may have to pay some expenses out of pocket but in few years with increase in rents, property appreciation and tax benefits can help in long term. I agree I may not need PMgmt as it is townhome. But I am working professional and cannot deal with renters for day to day needs.

Hi,

I am new to RE Investing and would like to check if following numbers makes sense or am I missing anything:

Property Details : 3/2 Townhome

Income: $2800

Expenses = $2700 (approx)

Here is the break down.

Mortgage + Tax +Insurance = 1800

HOA = 265

Vacancy = 5 % per month = 140

Repairs + Cap Ex = 200

PM = 10% per month = 280

Total Cash Flow : $100

I can get greater cash flow if I manage myself but I am not planning to do it.

I am thinking of getting HELOC and buy a new primary residence and rent this one. Any suggestions are appreciated.

Hello Investors and Real Estate Experts,

I hope this message finds you well. I'm reaching out to gather some insights and feedback on a strategy I'm considering for my first investment property. The current market conditions have made properties quite expensive, potentially leading to a scenario where I'd have to cover monthly expenses out of pocket. To mitigate this, I've devised a plan that involves leveraging my primary residence.

I've been residing in my current home for the past five years, which I secured at a very favorable interest rate. It's capable of generating approximately $200 per month in positive cash flow if rented out. Concurrently, I'm contemplating purchasing a more expensive property similar to my current residence, which I would then inhabit for around two years. Following this period, if interest rates decrease, I intend to refinance the property, transition it into a rental, and repeat the process by acquiring another property to serve as my primary residence.

I'm curious if anyone has attempted a similar strategy and, if so, what pitfalls or challenges they encountered along the way. Any insights or advice you could offer would be immensely appreciated.

Thank you in advance for your time and expertise.

 Does that mean its not possible in NJ ?

Hi Gurus,

I am a beginner into real estate and exploring the option of buying multi family home and renting a part of it. How can I be profitable or live free of cost if average multi family home is about 300-400 k in the area. Even if I rent the part of house at 1500/ month still I end up paying 30-40% of emi from my pocket. 

Can you share any creative ideas that you used to buy house at such price and still make money out of it ?

Any expert can guide me ?

Thanks,

~V

@Charlie MacPherson Thank you for getting back to me quickly.

I see $/sq ft for 55 Mary St is $352 . 

How did you calculate that number ? 

All other sold properties have $/sq ft less as compared to 55 Mary st. 

hi , I am a newbie trying to find ARV and amount that I should offer on a property in NJ. Here is some data that I have collected . I am trying to estimate the ARV for 5th property . What other factors should i consider ?

If i am planning to rent property ,how much should i spend in repairs ? and what should be my offer to make decent profit ?

Thanks for any tips here ...