All Forum Posts by: Mbaye Diaw

@Rhett Tullis

I am ashamed to say this but I was so focused on not paying rent and punching numbers in excel that I completely overlooked my exit strategy. That was going to be a really dumb mistake, that I am sure someone out there made.

Note to self : don’t focus on CFs only think about the exits strategy as well. I don’t plan to leave forever in the first place i buy.

Thanks a lot this forum is amazing !

@Staci Kou

I think you have a good point I am seeing prices dropping daily factor in the over supply in the area, recession signs everywhere in the global economy and oil shocks maybe the smart move is to wait to see how low pricing go to avoid « catching a falling knife ».

Will expand my search and include duplexes as well just to see what is going on in that market.

Thanks

Hi Andrew and Kara,

Thanks for looking into this. I think I have been using the wrong vocabulary so I reorganized the expenses (following Andre w's wording in his article). I have also:

1) decrease the monthly rent to $400 (previously assumed 485 per bed based on add on their website)

2) rent Income is now #beds x 3 (previously was x4) , thank you Kara for pointing out the rental income seemed high. If I live in one unit of course I am not receiving that Income

3) increased water to $50 (previously was $32: my current water bill in 2bed 2bath apart in the area)

My cash flow is now -$160 a month but compared to my current -$1,012 a month rent apartment I would still take it.

The condo it self is the edge at Norman. 

Hello all,

I am a young professional single no kid and I have not been able to sleep since I discovered BiggerPockets and the concept of house hacking !

I tried to push the numbers in excel and I find this to look like a good deal what do you think ? 

This a condo near Oklahoma University, walking/biking distance to my work and campus. I think I am having analysis paralysis because:

1) I am a complete noob, I am afraid of making dumb financial choices 

2) The university of Oklahoma went on a frenzy building an absurd number of new student housing too expensive for many student  (according to This article occupancy rate were 28% !)

3) this property has close to zero appreciation according to Zillow ?!

Am I missing something ? how would you approach your due diligence in this case ?

your advice would be greatly appreciated.