All Forum Posts by: Austin Robertson

I'm a first time homeowner looking to purchase an investment property and do LTR, MTR or STR. I currently live in coastal central California & can't find anything in my price range locally. I don't want to move & house hack a property in another city but am looking for city's where homes might be more affordable, say $500,000. I am pre-approved for a loan just under $500k and have enough for a downpayment. Would love to hear everybody's thoughts on what city's are affordable and have growth potential for an investment property

Hey everybody - Im here with some numbers I ran for 2 homes in the area. One home is a multi family and one home is a single family. Just want to see what people think of the numbers and if I should be including anything else. Thank in advance! 

Home 1:  Price: $775,000       3Bd / 2.5Ba @ 2,100ft2 

Down Payment (20%): $155,000 

Monthly payment: $4,350 

Unit 1: 1bd/1ba.                 Unit 2: 2bd.1.5ba

Comps: $1,800                   Comps: $3,000

Total Estimated Rental Income: $4,800

NOI: $3,000 (Income - PGE, H2O, Tax & Ins, Maintenance, CapEx + Repairs)

Cap Rate: 4.6% (36,000 - 775,000 = 4.6%)

Cash Flow: $330/mo (4,800 - 4,470) 

Home 2: Price: $460,000       2Bd / 1Ba @ 700ft2

Down Payment (20%): $92,000

Monthly payment: $2,650

Comps: $3,000

Total Estimated Rental Income: $3,000

NOI: $2,400

Cap Rate: 6.2%%

Cash Flow: $200/mo

Thank you all for your reply, very helpful! @Scott E. Underwriting would be looking at my financial situation and the property value to see if the deal works, correct? I'll absolutely be back on the forum with some more clarity.  

Hey everybody - Im new to this forum as well as real estate investing but have been listening to the bigger pockets podcast for several months now. I'm looking at buying a home in central coast California and ideally want to house hack. Buy a duplex and live in one of the units while renting the other out. I've been researching properties and running some numbers (NOI, Cap Rate, Cash Flow, Cash on Cash return) and find there are some properties but I don't feel confident that I'm on the right track. I wanted to get some feedback on what ya'll think I should be looking at or what I'm missing.