This leaves a margin to cover holding costs, financing expenses, and still achieve a desirable profit.Here's the formula:Max Purchase Price = (ARV x 0.7) - Estimated Renovation CostsKeep in mind that this is a guideline and not a strict rule.

Installing effective software for simplified documentation is critical for organizing and managing the massive amount of data involved in the due diligence process.Physical property inspections and unit walkthroughs are equally crucial as financial due diligence.

If we are all being honest, not one of us posting has any clue what’s gonna happen we all can come up with our best guess based on historical data.

It pulls and refreshes it's listing data daily!

I've been using this for years to some extent, but this version is and will be multitudes better at helping me achieve my goals.

., Ran into issues as there was not enough rental comparison data in my area.  

Overall the house hacking achieves effectively living for break even or less than rent and getting you into a market you normally couldn't afford the downpayment on.

As a Pro member, this premium upgrade is 100% FREE for you.Access a suite of premium powerful features, including:Expanded Data Access - You now have the opportunity to build a comprehensive database of 5,000 property records, giving you more opportunities than ever before to find your next lucrative deal.Advanced List Builder Filters - Say goodbye to generic prebuilt lists.

This is a great resource to ask questions and learn more about different markets.1% Rules and BRRRR's are very achievable here.

For me this involves making a lot of spreadsheets, but I will give you the outline.1)Establish risk capacity and tolerance: Capacity=how much can you afford, and tolerance=what you actually feel safe spending2)Use that information to narrow down what is available to buy: The amount will buy you a duplex in PB with 2 1/1's, will also get you a 4plex in Lemon Grove with 4 2/1's3)From there do the research on all of the available units that fit your criteria: This includes, but is not limited to, historical data on appreciation, market rents, historical rental data, and migration trends.4)Don't be afraid to wait for the right propertyI hope that I was able to simplify my process for you in a way that is helpful.