All Forum Posts by: Dominick Tanella

I am also looking to do the same. I have been going to local real estate clubs and reading several books on the topic and I too have been told that 75% of the income from the other unit can be applied to the debt-to-income ratio when applying for the loan. I'm not sure if you're familiar with FHA loans but you should be able to get a loan on a primary residence for 3.5% down. FHA 203k loans also lend you money to rehab as well for a similar down payment. Like I said tho I am new to it and would be interested in more info as well.

Hello all, Anyone have any suggestions for more information on market analysis (i.e. Rental rates, gross rent multipliers, cap rates, demographics, etc)? I was just looking over Rentometer and Zilpy websites and was curious if anyone has used these sites or others? Regarding rental income rates in a particular market I was watching a video from Brandon Turner and he mentioned he uses a map feature on Craigslist which seems like a great way to obtain the information. I wanted to see if anyone has any suggestions.

Yeah Ive been using the calculators offered by BP but these don't seem to calculate present value of cash flows etc. Like someone mentioned above I may be over analyzing. The Hp12c is a financial calculator that allows you to calculate such metrics as NPV and IRR pretty easily once you learn the keystrokes and input data. The BP calculators are definitely great tho and the primary reason I upgraded to PRO.

Yeah I probably have analysis paralysis now. I'm reading a lot of books to get as informed as possible to make my first deal. I'm reading Frank Gallinellis What Every Real Estate Investor Needs To Know About Cash Flow. Read a few before that. It doesn't seem too complicated like you said but I don't want to underestimate as the consequences seem like they can be potentially detrimental in the long run. I'm a big Ben Graham/Warren Buffett value investing type. Figured some of the concepts could translate from stock to real estate investing.

Hello all, Does anyone do deal analysis with an Hp12C? If so, can you share a YouTube video with an instructional video and/or provide a good article that explains how to do it? Thanks, Dom

Ok great thank you for your reply I appreciate the help. I will take note

Hello all,

My name is Dominick and I am new to REI/BP and I am excited to get started. I have been reading as much as possible on REI for a couple months now (Larry Loftis - Duplexes, Triplexes, and Quads, McElroy - ABC's of RE, Lindahl - Multi-Family Millions, Gallinelli - What Every REI Needs to Know About Cash Flow). I am looking to purchase a multi-family soon (with plans to live in one of the units) and am considering using an FHA or 203k loan to get started.

My original thought-process on a starting point was to set up an LLC in order to protect myself before even beginning to analyze deals. My question is: Would purchasing a multi using an LLC negate my eligibility for an FHA/203k loan? Do multi's need to be purchased in your personal name in order to obtain these types of financing?

I appreciate anyone's feedback.

Thank you,

Dom