All Forum Posts by: Will Samsky

For financing a conventional loan on a primary residence lenders will look for a < 28% housing expense ratio (mortgage payment, insurance, taxes, and PMI / Gross monthly income). Some government loans such as FHA VA have higher allowable ratios.

My personal housing expense ratio is about 6.7% when considering my spouses and I's combined income. I bought the cheapest place I could (1 bed 1 bath, we have no kids) in the neighborhood I wanted to live in so I can save as much money as possible for investing and 401Ks. 

@Josh Butler do you listen to the podcast? I have found that the phoenix area is hard to find good rental deals unless you are in a pretty shady neighborhood. I found the latest podcast Show 73 to be very inspiring if you are in a situation where your market is to expensive.

Since I've been a BP member since November I guess now is a good time to introduce myself to the community! I am a full time Registered Nurse living in Scottsdale, Az and soon to be part time mortgage loan originator and looking to get into buy and hold investing. I have been keeping an eye on the Az market via a MLS search but have seen few and far between deals that would make sense for me, so after listening to Mehran's recent podcast I have decieded to focus my efforts on out of state investing. Right now I am evaluating Columbus Ohio as a potential place to start as I have some extended family in the area. I would love to meet like minded investors who could give me advice on the Columbus area and possibly do some deals together.

Marcus, welcome to BP from another phoenix area RN! 

looks like a good place to invest, lots of differed "maintenance."

I could make it for part of the meeting on the 17th and I don't have my schedule for the 31st yet.

@Justin S. I will check my work schedule tomorrow night and let you know. The 17th I should be off but need to make sure.

Don't know how I missed this as I have phoenix on keyword alert! I will try and make it next time if my work schedule permits.

@Leng Thao and @Terry Hershberger Thanks for your replies. So it looks like for SFR vs Multi's you look at the same numbers but also consider the 2% Rule. It seems like everyone prefers multi's vs SFR for cash flow but in my area the good multi's (4plex) are in F- neighborhoods that I can't imagine landlording in. This has made me reconsider making my first deal a solid SFR rather than a scary multi. Good to know @Raymond B. that you can include those things in the lease.

I have been practicing analyzing some buy and hold deals in my area and came across this one that seems like a pretty good deal on a duplex. I just wanted to get some opinions on my numbers and anything I'm missing. Right now it is occupied without leases and I wouldn't be able to walk through until in contract to determine needed repairs but it most likely looks like some landscaping. I have no clue about expenses as this would be my first deal so I'm using 50% rule only as no financials are available. Asking price is 70,000 probably would offer 58ish and hopefully end up around 62k. Just looking to get info on my numbers and anything I may be overlooking.