All Forum Posts by: Mario Gonzalez
Mario Gonzalez has started 13 posts and replied 17 times.
Post: Buying a rental in Philadelphia for airbnb rental good idea?
- Posts 17
- Votes 0
Hello,
So from my research, i see that many airbnb operators in Philadelphia buy a nice townhome in a b class area and market them for airbnb.
The avrg income is 2200 per month or 29.5k per year plus other income.
Townhomes are around 300k to 350k.
I have 100k for this to work out.
Im assuming it's 20% down and 4% on a 350k will be
$70,000
$12,000 closing cost
$5,000 furniture and etc to get it ready
$5,000 reserves
Total $92,000
Am i missing something?
Post: they say SFH are bad investments but with airbnb does that change
- Posts 17
- Votes 0
everyone i spoke to tells me 2 units and up but with airbnb model does single family investments look better now or is it still best to get 2 plus units
Post: is this a good blue print for analzying deals
- Posts 17
- Votes 0
what cash flow per door do you aim for that makes a deal worth it?
im using this blueprint as a guide.
7% vacancy / 8% capex/ 8% repairs/maintenance
i know many things vary but im thinking 150-200 per door would be worth it? am i wrong?
looking to house hack my 1st deal duplex been having trouble with using the right methods to come up with the numbers.
Post: How do i analyze a house hack property & at what cash flow?
- Posts 17
- Votes 0
this is what im using 7%/5%/8%
Post: How do i analyze a house hack property & at what cash flow?
- Posts 17
- Votes 0
Post: is this a good deal? house hack duplex 150/per door?
- Posts 17
- Votes 0
| property purchase cost | $ 265,000.00 | net cash flow | ||
| closing cost | $ 5,000.00 | total rent | $ 2,200.00 | |
| down payment | $ 26,500.00 | 10% down | total expenses | $ 1,830.33 |
| total cost | $ 233,500.00 | |||
| net cash flow | $ 369.67 | |||
| total cash down | $ 31,500.00 | |||
| current rents | $ 1,900.00 | |||
| cocr | ||||
| new rents | 2bds/1 each x2 | cash flow yearly | $ 4,436.04 | |
| other income | $ 2,200.00 | cash down | $ 31,500.00 | |
| total rents | $ 2,200.00 | cocr | 14% | |
| expenses | niche rating | B | ||
| taxes | $ 208.33 | truila crime map | 0.5 | |
| home insurances | $ 100.00 | years with one owner | 18 | |
| water | renter pays | market rent lowest | $ 950.00 | |
| mortage insurance | $ 54.00 | market rent highest | $ 1,400.00 | |
| capex | $ 110.00 | market rent med | $ 1,200.00 | |
| repairs | $ 110.00 | sq ft 1778 | $ 157.00 | |
| vacancy | $ 110.00 | |||
| mortages | $ 1,138.00 | |||
| total expenses | $ 1,830.33 | |||
| rate | 4% |
Post: HELP, is this a good deal? duplex house hack
- Posts 17
- Votes 0
house hacking in north philly, does this deal make sense? cash flowing after i leave the place 1 yr down the road?
Post: HELP, is this a good deal? duplex house hack
- Posts 17
- Votes 0
hello,
about to put a 10% down @4% house hack in north Philly, here is the numbers. what do you think? CapEx is low cause all major repairs have been replaced/new over the past 4 years.
Post: HELP, is this a good deal? duplex house hack
- Posts 17
- Votes 0
hello,
about to put a 10% down @4% house hack in north Philly, here is the numbers. what do you think? CapEx is low cause all major repairs have been replaced/new over the past 4 years.
Post: best strategy for new investor 26yr old with 65k to invest
- Posts 17
- Votes 0
hello BP,
i have been researching and reading every book i can for the past few years. i have my finances in order and would like to purchase a property. the goal is to have many rentals like many of you do already.
i live in a expensive state where taxes are the highest and do not want to buy locally here.
i am look at near by areas like Philly where many signs are telling me its growing which i like.
i have 65k to use and trying to find a way where i can reach $200/ per door (8% cocr) or more. I have no debt and already pre approved with all docs needed.
what would be the best move if you were in my shoes? i live at home saving every penny and maxing out my retirement accounts. i strongly want to own property//rental before the end of the year.
i would not mind house hacking than rent it out after moving out (1 yr) to cash flow or would buying a rental in a cheaper market like mid west be better? how can i start and scale?