Purchase price: $550,000 Cash invested: $450,000 6 unit multi-family BRRRR.

Let’s break it down.Self-Managing Your Chicago House HackPros of Self-Managing✅ More Cash Flow – Property managers typically charge 8-12% of monthly rent.

Imagine making millions of dollars over the course of your career and then having to pay 30-50% every year to uncle sam instead of compounding that cash over time.This is exactly what real estate professionals have learned to mitigate.To reduce their taxable income, they just buy a building every year, do a cost seg, and use depreciation to reduce their tax liability dramatically.Their personal wealth snowball grows much larger and much faster than their W2 counterparts who give most of their money back to the government each year.Following this strategy as a real estate professional is one of best ways to end up with a much larger net worth at the end of your career.

Cash How did you add value to the deal?

I believe it is 27 years of depreciation that you hedge against any cash flow you received. 

Harder to cash flow due to 25yr am vs 30yr standard.

Once you have cash in hand, you can unlock the unit for 24 hours and let him move his stuff out.I would also consider charging an additional deposit of $500 or something, just to prevent him from leaving all the trash or stealing your refrigerator.

Purchase price: $80,000 Cash invested: $80,000 This is a reno- adding a 1 bedroom unit to a three family home.

They are usually looking at C or D properties that local agents tell them will “cash flow“ They usually don’t cash flow because of high maintenance and vacancy.

I'm hesitant to give up my conventional loans on the next cash out refinance for DSCR loans.