All Forum Posts by: Juan Fernandez

Thank you all for responding and giving me better advice on this situation. I should have followed up and asked if house hacking to my way to BRRR. Because I currently do not have the funds to start rehabbing. Also not 100 percent on how to pay someone back if I got a lender. But it seems like i will mostly House hack vs BRRRR

Hello, I was wondering if purchasing a house to house hack is even necessary? Due to the fact is that I have a rental as of now in Mesa. 

The income from my job helps me pay for where I am renting and for my mortage on the rental. So I am having a profit of over 1000 dollars because of it. 

So if I purchase a other house and this house would be in my name and my primary residence( the one I am in is not). I would just be with the same income because my other roommates would pay for my housing and I'll cover some utilities so it is as if I never left my house of renting and just added my name to the ownership right? 

So should I save up every penny to go and BRRRR a new house without house hacking?

sorry for the confusion. 

Well the mortgage with everything included taxes and insurance and all is 725$ and the hoa is roughly 150$ so 875 total. The tenant pays 1050$ a month with a pet fee of 50$ a month so a total of 1100$. I do not pay for the utilities. 

So i have been going over the formula of Roi and entering my information about my house. For some reason i have been returning a negative 27 on my roi which i thought was wrong. If i put 3,500 $ down on my first house and currently renting it out for 1,100 $ a month and having a 275$ income from this townhome. so that comes out to 2,700 a year of profit, why am i getting negative numbers?