First time buy and hold

4 Replies

Hey guys, I’m actually a student and college and I’m getting ready to graduate soon. My lease is coming up soon and instead of renting out another apartment it seemed to make more since to purchase a multi family and rent out the other units. I’ve started doing my research on real estate, but I’m struggling to figure out how I can learn how to analyze deals well, and get the right amount of data to make an intelligent decision.

With me I am buying a house for my first deal around a college here in KC, Missouri. I will be living in the basement which is the plan and rent out the 3 bedrooms to students. For me that is cheaper and I close on that deal in 2 weeks, if things go smoothly. But look online actually at "Calculating numbers on a rental property" by Brandon turner the host of Bigger Pockets Podcast. One of the episodes had a person who bought houses around a college and rented out rooms I cant remember what episode is that of the podcast but something to search for on google. It was very informative. And look up " How to calculate numbers on a rental property" by channel hipster investments. 

Listen to the BP podcast and subscribe to the Biggerpockets youtube channel. They have lots of great info on there.

@Jamel Campbell Congrats on wanting to take a plunge into a MF unit. I own a couple apartments myself and I would definitely recommend the BP calculators or a quick excel spreadsheet for the smaller deals with work. I've built a financial model that I use to help myself and other investors make informed decision whether it be small SFR's or larger MFR's. Let me know if I can be of any assistance with your analysis and best of luck!

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