My last purchase (built 1900) has no closets.

Hi all,I am a young newbie investor looking to make my first real estate purchase in 2025.

I purchased Air DNA pro subscription , any thoughts on accuracy of AirDNA numbers for Boston market.

Find a mentor that can help you through the purchase of your first house hack, and get something you can fix up off market directly from the owner.Use the help of the mentor to find out if it's a good deal and to help you understand if it could work.  

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).

So the idea of doing this all from afar is a bit daunting, however, I know the most important thing here will be to create a great team and outsource as much as possible.I have set my sights on a couple of different markets being in the Southeast and the Midwest; these markets seem to provide the cash flow I am initially interested in generating to value add to the properties I purchase.

Purchase price: $2,400,000 Sold a single-family home and did a 1031-exchange into a 5-unit building at a cheaper price.

As an investment, I would never consider a property that brings in only 7% of the purchase price.

It seems that if you can find a good deal on the purchase price, are willing to do cosmetic updates (floors, painting, maybe a kitchen) you can get that 100-200/month cash flow.  

Heck, I was nervous on one of my most recent purchases because it was my biggest ever - and I've done over 100 transactions.Your current house is probable a Class A property - which is the easiest to manage.