What do all those numbers mean?

2 Replies

I'm fairly new to the real estate investing in the Orlando, Florida area. I’ve been reading the forum and other real estate investing books religiously, but I still have a lot to learn. I’m ready to invest in my first property. I would like my first property to be a multi-family where I can apply the house hacking strategy.

My questions are

  • 1.How do I know if I’m getting a good deal on a property?  what numbers should I be looking for when I do a property analysis?
  • 2.What’s the ideal price range should I be looking for in the Orlando market?
  • 3.And do I need to find house first then find financing for it? or should it be the other way around?

Thanks in advance 

@Duverson Jean you might be best suited to get The Book On Rental Property Investing from the Bigger Pockets bookstore. This can fill some knowledge gaps as you get started. 

Link to the Bookstore: https://www.biggerpockets.com/store

Get prequalified for financing first this will determine how much you can afford to buy. If you need a referral to an FHA lender PM me. Once you get prequalified finding a real estate agent to help you find a property would be a good next step.

Buying small multifamily owner occupied is tough in the Orlando market right now. We have a very low vacancy rate and minimal supply of small multifamily housing. Happy Hunting!

@Duverson Jean , I agree with @John Kent on the book recommendation and getting pre-qualified for financing first. The prequal letter will let you know how much you can pay and it will last for 90 days typically. That way, you can pounce when you spot a deal. 

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