hi everyone!! first time on this forum. My future wife and I are looking into real estate investing. But I had a question about buying and holding a multi family property. Im trying to run the numbers but im coming up with a problem. how do I calculate if its a good investment when we are trying to buy a duplex, while living in one unit and renting out the other unit. What numbers are good (noi, cash flow, etc.) to move forward on a property. if anyone can help it would be greatly appreciated.
Michael and Jamesina
That is a very good question. I am more into the single family homes than multifamily just yet. Welcome to the forum.
Hey @Michael Pacheco ! House Hacking is an awesome strategy! If you can pull it off then go for it!
You're question is pretty broad. Calculating numbers for a House Hack is essentially the same as if your were buying and holding a SFR. You want to ensure that your rent and any other income (parking, laundry, etc) is greater than your expenses. With MF, calculate the numbers based on all the units being rented...even if you are living in one. After all, you'll want the numbers to work once you move out! :)
If you have more specific questions then feel free to ask! But without more details it's hard for me to know how to help :)
thanks . if i have any more question ill let you know. its just great that there is great people willing to help
So you would look at it as if you were the 2nd renter in the equation. You do have to live somewhere right? And you wont over extend yourself on mortgage and rent, right? So look at the duplex in that manner.
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