All Forum Posts by: Eugene Beard

@Christopher Telles Thanks I was just looking for a new way apart from the mls to search for a small multifamily in georgia! I'll let you know how well it works!

your right @Larry H. it doesnt. It switches to commercial at 5 or more units. Good luck @Jean-francois Ndomb jsut remember that you will kicking someone out of the place so the total income of the property will be lower than it is now. When you use the BP calculator make sure u add costs in for 8%vacancy, and 8% property management(at least). Im not in your market tho. :)  Check on what are rent for a  2bed/1bath going for in that city? And a 1bed/1bath(assuming thats what those are). Is $500/month low,high or average? how much is his mortgage and insurance on his loan? I can tell you right now your getting $1,400 a month in income at the 2%rule you are doing okay. but if the rent are low for that you could rehab the property a little bit and increase the rents! $$$ or keep the tenants and rent the same as is and live for free! Speaking of tenants are you ready to become a landlord? fix other peoples issues? Are the tenants he has in there paying on time? doing illegal things? perfect tenants? You gotta figure out this type of stuff.As long as his mortgage isnt like $850+ a month you should be covered in basic expenses. Again good luck im looking a fourplex myself in GA and I have read the ABC's of real estate investing by Ken Mcelroy(I think) like 3 times now. I sugges you read that book(libary) to get a better grasp on this.

@huyen https://www.biggerpockets.com/users/HuyenN

college Park is usually a bad area but that triplex looks good.  I will swing by there. If u send me the street name  or something 

Yes, @Santiago Rosas you can house hack a duplex or a SFR. The main point of house hacking is living for free. I believe it is just a little "easier" to do it with a multifamily home because you have your own space(possibly your own kitchen) as opposed to in a SFR house hack u rent out a room and share a kitchen (or possibly a bathroom)

@Santiago Rosas it is when you live in the house and  you become the "landlord" and have a renter pay for your mortgage.

Hey @Account Closed

@Stephen Franco www.naca.com advocates for owner occupy..not so much investors though.

Nope it hasn't sold yet been on the market for a minute. I am working with the now to put an offer in.  Thanks@Chuck VanDyne I gotta read this a few times to understand it though lol.

@Chuck VanDyne