All Forum Posts by: David McLean

great story! welcome to BP!

I wouldn't assume that you are too low on the rental fee just yet. Of those three that have expressed interest so far, you might not have a very qualified applicant in the bunch. Or you may. Just spend the time to check your applicants out and be thankful for the initial interest in your ad.

Remember you will be living next door. Just my thoughts..

Good luck!

@Michael Dunn, it is income and eventually yes a lender will factor that into their DTI equation for you. I'm not sure of the exact time frame.

what do you believe you can purchase the house for when you say they "basically want to give this house away"? That would be important info in analysing this deal.

@Ian Walsh thanks!

Hi @Ian Walsh. Im new and trying to learn what I can about Multi-family. What is the "50 house rule"? thanks.

David

welcome to BP! So much good info on this site. Read and digest as much as you can. Be patient, form a plan and put that plan into action.

-David

Congrats on your success! That's awesome.

Any chance you were able to roll your profits into another deal via 1031?

@Douglas Skipworth, thanks for sharing! We love midtown. 

welcome to BP! Lots of great info here.