If it were me as a seller the over asking price ok and down payment but I would make you pay interest only at 8-9% for a year or two with a balloon.

Other than that it's a pretty clean package. 200k down, 720+, 60> ltv owner occupied.  

Purchase price: $640,000 Cash invested: $220,000 Purchase price $640,000Got it at this price because there is a non-paying tenant in unit 2 (rent value $3,500), we're in court Rehab $60,000All in cash (rehab plus down payment) $217,500Rehab included ground level basement and 2 parking spot drivewayMonthly cash flow $1,500 ARV $950,000Equity $470,000Refi cash out (August 2024) $150,000 (used to buy new rental)New monthly cash flow breaking even (non-paying tenant still in unit 2)New equity about $200,000

Thanks, Bernice One approach is to break it down by looking at similar vacant retail spaces nearby and comparing price per square foot while factoring in potential rental income once occupied.

Also, I am assuming since you house hacked that you only did 5% down, which then increases your mortgage payments compared to 25% down buyers.

And you can do it with little cash, 5% down conventional is better than 3.5% FHA.House hacking also gives you a chance to cut your teeth in all major skills: analyzing deals, buying process, financing, working with contractors, advertising for rent, background checks, property management.

@Stephen PattonStarting in real estate can feel overwhelming, but breaking it down step by step is key.

@Sasha Josephs, I was under the impression West Oakland was going down.

Guys, I’m trying to track down one of the guests I heard on the Real Estate Rookie podcast a couple of months ago.

And with that again, nail hit squarely on the head.