Talk to your insurance provider about your concerns and they can recommend the right coverage.

You just need to work out the rent proceeds with your daughter.

But the lessons I've learned during those days surely applies to my everyday hustle .

🚨The Green at University City is transforming into a top-tier Entertainment District🎉 The development includes a 65,000 sq. ft.

🚨The Green at University City is transforming into a top-tier Entertainment District 🎉 The development includes a 65,000 sq. ft.

Aloha Farod, and welcome to the forums!

I have an underwriting spreadsheet I created to do a 5 minute analysis of the property.

His knowledge and clarity in the field is amazing 

Deduct NEW property taxes after you buyDeduct home insurance costsDeduct maintenance percentage, typically 10%Deduct vacancy+tenant nonperformance percentage(we recommend 5% for Class A, 10% Class B, 20% Class C, good luck with Class D)Deduct whatever dollar/percentage of cashflow you wantNow, what you have left over is the amount for debt service.Enter it into a mortgage calculator, with current interest rate for an investment property, to determine your maximum mortgage amount.Divide the mortgage amount by either 75% or 80%, depending on the required down payment percentage - this is your tentative price to offer.If the property needs repairs, you'll want to deduct 110%-120% of the estimated repairs from this amount.Be sure to also research the ARV and make sure it's 10-20% higher than your tentative purchase price.As long as the ARV checks out, this is the purchase price to offer.It is probably significantly below the asking price.

You need to terminate the tenancy with proper notice.