All Forum Posts by: Charisse Hines

Hey BP friends, I would also love to network and attend a local meetup! Please keep in touch if that happens to be arranged this year.

Hi everyone!

So I’ve prepared to rent our first purchase for October 1st. I’ve gotten a few applications, one of which were two college students. Had a pre-screening phone chat with them and they seem to have a good head on their shoulders. They were then screened through Cozy.co and have decent credit scores and lots of student loan debt, but nothing else very significant. They receive stepinds to assist with living expenses (this college doesn’t encourage students to work while enrolled) and have w-2s to support it. One of them works part-time as a bartender and is also providing a w-2 for that. With the stepinds and the part-time work they meet x3 the asking rent, but I’m worried bartending isn’t very consistent because it’s half cash based. Any suggestions? Should I consider them as tenants? Any advice really goes a long way!! Thanks!!

Thank you @David Schulwitz for taking the time to give me some feedback! I actually didn't even think about CAPEX when running numbers, so great point!

Hi everyone,

Was pre approved through FHA with the intention of house hacking a duplex. Price inflation has made this process pretty difficult, my window is much smaller based on my cap. Looking at one in my area (east Volusia County) ran some numbers and would love some feedback! It's been on and off the market since February 2017 with more than three price reductions since.

2005 stucco cement block duplex/ one side has had recent renovations

Listed  price: 194k

Current rents @ 900/unit

My offer: 160k 

Prinipal + interest: 729

Property tax: 147

Home insurance: 75

PMI: 111

Vacancy @ 10% = 180 

Repairs @ 5% = 90 (property is practically turn key)

NOI: 468

9.3% cap rate 

I’m new to investing and analyzing deals I would appreciate any professional advice

According to my numbers each unit would be 234/unit positive cash flow. I’ve read from other bloggers that if you’re cash flowing at least 200/unit you’re looking pretty good, any thoughts?!? 

Thank you! 

@Orita Issartel I actually do not intend to relocate outside of Volusia/Flagler, at least for our first investment since we will be house hacking.

@Kristin Kiddy Thank you for the suggestion, I just sent you a PM.

Thank you for the warm welcome @Jay Helms I'm defiantly excited to jump in and house hack. Since you have been down this road, I may ask What method of 

analyzing a potential deal on a duplex has worked more efficiently for you? I have been practicing with the 2% rule as if both sides were occupied (not by me).

A very good morning to all, I am seeking an agent here in the Volusia/Flagler counties of Florida. My husband and I are pre approved through FHA financing and want to begin the search for our first property, a duplex. I wanted to reach out on bigger pockets hoping I can meet some professionals in or around our area that can talk with us or provide any recommendations!

Charisse & Calvin