Updated over 5 years ago on . Most recent reply
Looking to buy for the first time in CT!!
Hi everyone!!!!
newbie here ! I'm finally looking to get into house hacking. Im looking somewhere between stamford and Bridgeport area. I commute to work in NYC. Im running numbers but most properties aren't cash flowing
Im using an FHA loan. I wanna stay under 375k on a home. Im factoring sewer, water, garbage , heat , cap ex , reserves, ins , and vacancy . Im even including property management for later down the road when I aquire too many properties to handle . When I run my numbers, I do it as though im renting out the entire property to see if it cash flows. So far im not coming up with anything over 100 dollars net per month.
Am I accounting for all costs?
What are your numbers you use as a guideline when looking for a property ?
Whats a cashflow amount that I should be targeting ?
Any further tips or helpful advice you care to share is greatly appreciated!!! Im all ears!!