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.
@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!
Thanks guys, very helpful!
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
Join the Largest Real Estate Investing Community
Basic membership is free, forever.