Shelley, ID · Member since 2016 · 7 posts · 0 votes
Im a college student and am wanting to get started in real estate. Right now I'm in the process of getting a home for me to live in and renting the rest of the rooms out to other students. I have heard of people doing this and it seems like a good idea, instead of paying to live in apartment just getting a home and having the other renters paying enough to cover all the expenses. I have found a few places that fit the criteria i've been looking for but now I'm having a hard time determining how much it will cost me each month for the house. What factors do i need to know, and about how much would it cost monthly for a home that is selling for about 160?
Investor · Madison, CT · Member since 2014 · 710 posts · 458 votes
9y
@Bryce Bradshaw Take a look at my blog post about doing an initial analysis of a multi-family. The same approach should be used when purchasing any investment.
Investor · PA · Member since 2013 · 1k+ posts · 602 votes
9y
depends on the interest rate you get and whether you do an ARM or fixed rate for 30 yrs and also the down payment amount and how much you are paying for taxes and insurance but will probably be between 800-1100/mo PITI plus utilities