All Forum Posts by: Angel Moreno

I used to go to that catholic school and was born and raised in Waukegan. The area you are describing is at the heart of the ghetto my friend. Ive gotten robbed walking home from school there. Gang violence, burglary, and even murders happen around there.

I read the "Five Step Property Evaluation" technique from the book "The ABC's of Real Estate Investing" forword by Robert Kiyosaki & writen by Ken McElroy.

1. Verify property income
2. Verify expenses.
3. Determin net operating income (NOI).
4. Find the capitaliztion rate and valuation.
5. Calculate the loan payment and you profit or cash on cash.

Do any of you guys use this method? Is there more effective techniques?

Originally posted by @Bryan O.:

Hi @Angel Moreno. Make sure you view the property like any other investment property, meaning that you like the numbers after you move out. I actually enjoy managing my 3-unit while living in one and my tenants love me because they know I'm right here and care about the property. Of course, you have to be good at establishing boundaries so they aren't always bothering you.

With $10k at 21 yrs old, you're on the right track. Best of luck and happy investing!

@Bryan Otterson Thank you for your response! Nice to hear the prespective of someone who is already doing it. Im wondering though, what kind of boundaries do you mean and have implemented yourself? I don't want to get home from work everyday to pestering tenants.

There's a four pled for sale in my town for 150,000. But in reality it's two side by side duplexes. Will the fact that it's two building instead of one inhibit my ability to be approved for an FHA loan? Also, what is HOC vacancy factor?

@Logan Allec Thank you! Very helpful il be sure to use it.

I'm 21 and have around 10k in the bank. Want to buy a house that can appreciate in value or multi family that can produce a monthly cashflow. Il probably be using an FHA loan as I don't mind moving in for a year.