Owning and living in a multi-unit

[Ayaz Noor]

Greetings,

I'm a newbie when it comes to REI, and I'm looking to purchase my first piece of real estate property sometime this year. I am specifically looking at quads or triplexes, where I live in one unit and rent out the others.

I was curious if I should consider myself as a "renter" when I am calculating the cash flow on the property. The reason I ask is because when I look at how to calculate NOI I'm not sure if I should say I am my own customer, and charge myself rent.

[Eric Wang]

Just like to add-on what Jon and Tim has said. You also have to consider, your not just buying a home, your
also buying a business.

In Cali, if a tenant ask if your the owner, you have to disclose that you are. I always introduce myself as the property manager to prospective tenants, but if they ask if I'm the owner, I tell them I'am.

Living in the same complex as your tenants is a good way to start off and learn the business. Just remember to be very sensitive handling situation since you guys are all living in the same complex. You don't want to create any tention. If you find good tenants, you shouldn't have too much problems.