All Forum Posts by: Hector Melendez

I forgot to mention the interest rate from my lender is 3% fixed rate and the local taxes on the property are 7,299$ annually 

Hello everyone my name is Hector, I’m currently 21 years old  and I’m getting ready to buy my first investment property that I plan to House hack (duplex). Both units of the home are rented at 1100$ a month each. Each unit is a 2 bed 2 bath with a around 1000 square feet of livable space.this home is an 50min commute from Newyork city in upstate NY.The property’s is listed at 250,000$. I am pre approved  for an fha loan through a local lender. Now my questions and concerns are the current rent is below what most units go for which is between 1400$-1700$. So going in to this how should I tell the one unit they have to move out and the other rent will go up? I also want to create A renter contract so what should I include in the contract and example would be great.Also what are some ways I can do my own background check on the current tenants ,thank you and can’t wait for your responses !

Well I was looking to get a small multi family so I can live in one unit and rent out the other and then eventually buy another multi family home and hopefully grow from there.I’m defiantly trying to educate myself as this is something I’m really intrigued/motivated to peruse 

Hello my name is Hector and I’m 20 years old and looking to move out of my parents in the next year or two.I’m looking to house hack but don’t know where to start.I work full time and have a great credit score going for me,Any advice where to start?