All Forum Posts by: Justin Johnson

Welcome to BP @Michael Warren!  I'm still in the information gathering point in my journey, too.  I have just started doing a lot of analysis and number crunching to start looking for deals.  If you haven't already checked out the guides section on BP, I highly recommend it: https://www.biggerpockets.com/guides especially "How to Buy a Duplex: The Ultimate Step by Step Guide".  Explore the forums and ask lots of questions.

Welcome to BP @David Ordonez!  This is a great place to connect with people, you can also use the search here: https://www.biggerpockets.com/search/ to look for users in your area

You can also set up key word alters here: https://www.biggerpockets.com/keyword-alerts if you haven't already done so.

@Andrew Neal this is what I plan for as my first investment property.

@Tyler Bushey thanks for the reply. I was trying to do both for the same reason. I figured out, after reading your reply, that I was calculating the numbers like I was still paying rent like a tenant! The numbers made so much more sense after I adjusted them so I wasn't paying all that rent to the landlord :-)

I'm starting to do property analysis and have been wondering when you do analysis on a house hack project, do you subtract the rent that you would be getting from the unit you will live in from the monthly income of the property or do you still include that knowing that you will get that rent as income when you move out? Trying to make the numbers work on several properties and having a difficult time. Thanks! JJ

@J Scott, I Loved the blog post that you made about analyzing property, I was able to recreate almost everything perfectly except for the Equity Accrued value.  Thanks for posting the link to the spreadsheet I was able to use the cumprinc function to complete it.  This is a super handy analysis tool that I will be using from now on.

One other question that I have is the difference between the two spreadsheets. In the blog post you had a "Key Values" field to the right of the Cost, Financial, and Revenue Assumption sections. How did you calculate GRM, Cost/Unit, and DSCR in the spreadsheet?

Thank you.

@Cory Zach, I haven't bought it yet, but I have made plans to get my first deal done sometime in the first half of 2019!  Saving up capital, cutting expenses, and studying up on things that I will need to know for house-hacking/land-lording.  I'm excited and scared all at the same time! :-)

I have thought about that and I probably will when I see them again in the Spring.  In other places, I have not seen anyone there taking care of the place(s)

I feel your wife's pain about the apartments!  After I moved into my first rental house, I said "never again" to apartments.  However, I think I could change my mind if I OWNED the apartments lol.

I miss the Tempe/Gilbert area so much and would love to be back there. I would love to know what the market is like if you care to share as you venture into REI in the area!

Hey, @Michael Schaper, and welcome to BP!

If you haven't checked out the guides: https://www.biggerpockets.com/guides then I would recommend it.  Have you and your wife considered house-hacking rather than spending the money on your "dream house" (trust me, dreams change between 22 and 30, and 40, and...)?