All Forum Posts by: Felix Sharpe

Thanks everyone for the advice. I got to look at a property today that I believe has some potential - running the numbers through the BP calculator right now. @Michael Seeker We will be owner occupying for a year and we've been focusing on Old Louisville because I will be working downtown. Staying for the year per the FHA requirement.

Hello BP Community,

I am a new investor. My wife and I have been waiting for a multi-family property that works for us, between 2-4 units, to come onto the market. In addition to being new investors, we’re moving to a new state, so I’m not familiar with insurance costs, utility costs, etc. in this market. This is making it difficult to estimate the actual expenses for the property, which in turn, makes it difficult to determine potential cash flow or lack of cash flow. Income statements from sellers have only listed the rental income, not expenses. My questions are:

• 1. How can I accurately determine the actual expenses for a property including garbage, electric, insurance, sewage, etc. (I’m already familiar with looking up the tax assessments)
• 2. Seeking any general advice on being a new investor

• 3. Any general advice on multi-family specifically (just watched the BP webinar on the subject)

• 4. Any general advice on the Louisville, KY market

Thanks BP!