All Forum Posts by: Kyle Scofield

@Malcolm Darensbourg Rent - Monthly expenses (P&I, Insurance, Repairs. Vacancy, Property Management, CapEx, Taxes) = Cash flow

Try using the BP calculators. They make it super easy to run the numbers! You can figure out your CoC return by multiplying your monthly cash flow by 12 months and then dividing that number by the total amount you invested (i.e. Down Payment, repairs, closing costs, etc. )

Hope this helps man! Let me know if you've got any other questions.

@Noah Lawrence welcome to BP man! Good for you getting started at such a young age.. I'd start with the ultimate beginners guide found here on the site. It'll introduce you to all the basics of RE and then allow you to pick and choose what seems most fitting for you. After that, you can branch out and start focusing on your niche.. Good luck! Let me know if there's anything else I could help out with.

@Travis M. Oh yeah, that'd be a good one to house hack. I would just call a banker on that loan limit question for FHA purposes... They should be able to answer that question pretty fast for ya!

As far as the leverage question.. It all depends on the deal and buying right. if you buy at a good enough discount, you put yourself in a good equity position to leverage up.

But the question to put more cash down or save it.. It depends. What's your reserve cash situation like? Can you afford to put extra money down and still have enough leftover for unexpected problems? The answer to these kind of questions vary from investor to investor.. Some people prefer to save the cash and some prefer to put more money on the DP.. That part comes down to you imo

@Will Flores I'm not sure if there is any book on house hacking.. What type of information were you looking for in these books? Maybe I could help you out or get you going in the right direction.

- Kyle S.

@Travis M. I would say to wait until you get back to the U.S. It's always best to learn hands on first before you start investing from afar.. (not that it can't be done, just my personal opinion). Maybe spend this time educating yourself as much as possible?

As far as the FHA loan, from what I quickly found on the internet the loan limit is around $600,000 (not entirely sure, maybe someone else on the site could help with this).. Also, I'm not sure if you are aware, but you have to be living in the house as you primary residence in order to get this loan. So, if you want an FHA loan, you HAVE to wait until you are back in the states. But at that point, you might as well use the VA loan imo

Hope this helps get you started, let me know if you've got other questions.

@Steven Berro welcome to BP! I'd start with the ultimate beginner's guide here on the site. It lays out all the basics of real estate very nicely for anyone just starting out.

@Robert Lindsley You're welcome!  Good luck man, hope all works out and you get the deal!

@Sue Willoughby awesome! It looks like you'll be okay, just talk with the seller and see if he'd be willing to work out some terms with you.. With the right terms, you may not even need a partner or lender!

Kyle.

@Robert Lindsley No problem Robert!  That's a good plan with the equity.

Hard/Private money usually averages between 8-12% from what I hear (although I don't have any personal experience with this) so I think the 10% you're using is a good number.

Kyle.

@Spencer Rossie thanks for sharing this! Something you wouldn't even think about but could drastically change your results.