All Forum Posts by: Malcolm Ring

Thanks for the replies all. When I am unsure about breakeven, I mean even with all units paying market rents, not even trying to get a reduced unit for myself. Will the sum of all market rents even meet total expenses at 6.5%-7.0% interest? It almost seems like prices are still based on <5% interest rates or heavy-cash buyers.

Neighborhoods I am looking at exceed FHA limits, btw.

Plus, getting into a $3M NYC multi-family property feels like a modest building problem can easily take you into the negative.

Would like to house hack in Brooklyn, live there for a few years, and move out 3-4 years later. Currently renting in Brooklyn. 

Looking at 3-4 unit multi families. Nothing seems to be close to breakeven at full occupancy with 7% rates. Am I missing something here?

Or will this require seller financing / off market deals / steep discounts in order to make this work?