All Forum Posts by: Madeline O.

Hi all,

I've been reading up on house hacking and I think I found the perfect place! I'm ready to make an offer but I want to make sure these numbers are pretty conservative and that it cash flows when I'm ready to move out in 2-3 years. Let me know if there is something I'm missing in the analysis and if this looks like an alright first deal. Any input is appreciated

Thanks

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A little about me

I’m 25

Income: $65,000

Debt: 0

Down Payment savings: $20k

I finally paid off all of my college loans and my car so I’m officially debt free! I’ve been studying real estate investing for the last 6 months and I’m ready but my first rental property but multifamilies in the South Florida area can go for over $400k.

What would be a good starting price range for a first property?

@Jaysen thanks for taking the time to review my deal and giving input. I'll keep those points in mind. I'll be managing the property since it's my first deal and will be saving costs by fixing up a lot of it on my own. The 3 units in my area are averaging around $400k and can rent for about $1650/month. 

I was thinking about starting with something less expensive to minimize risk and loss. Do you think as a first investment going all in at 400k is risky?

@Aidan Mulligan

Hi Aidan,

I’ll be living in it for a year and planning on renting both units in the second year @$1450 each.

Hi Everyone, 

I'm just getting started with multifamily rental properties. I'm thinking about this duplex for my first deal but not sure if I'm on the right track! Any feedback is appreciated. 

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*This link comes directly from our calculators, based on information input by the member who posted.