All Forum Posts by: Nicholas Miller

Thank you for all of the responses. 

As a 1st time multi family investor in Cayuga County, New York. 

I'm looking at purchasing 3 properties for a total of $365k. Each from different sellers all off market deals. Rent rolls show people are paying in a duplex, 3 plex and the 4plex is section 8. Duplex and 3 plex are in good shape. 4 plex fully gutted and remodeled 3 years ago under a grant from section 8. Duplex is $70k in Auburn, 3 plex is $120k in Oswego, and 4 plex is $140k in Auburn. Duplex rents total $16800 annually, 3plex $28k annually, and 4plex $38,400 annually. CAP Rates are great after snow removal, lawn care, taxes and management fees. I'm doing 3 loans at 25% down at 4% for investment loans. I understand there's some risk with the moratorium however that should end by the time I close.

 Anything I'm missing here? 

Thoughts on how the end of the eviction moratorium will affect multifamily family housing prices? Monthly rent prices? Is there somewhere else I should look at? 

Our main goal is cash flow and to have clean livable homes for tenants. We saw quite a few slum lords and find it appalling people are renting unfit places.

I'm in the Seattle Market. 

Hi all I'm buying a 2nd home as an investment. I have a room rented in my current home for $1200/mo and I built a guest house that has renters in it for $1550/mo my current mortgage is $2500. I have about 400k equity in this house after I finished the build(I did all of the project management and a lot of the build, I grew up in construction and work in it for about 10 years professionally). I found another property to build on for 210k the build will cost me 300k and another guest house will cost me about 40k. I should be able to rent the new guest house for $1500-$1700 and mortgage payment will be 3100 taxes and insurance included at 4.6% . I'll take $65k in a heloc st 5.29% to make the down on this new house construction loan. After build the house and guest house will be worth 800-850k on the low end. Long term goal is for equity and sell every 2 years. I'd like to use the equity to build/buy duplexes in a cheaper area in the midwest where I grew up so I have enough passive income. Is this a good strategy, what am I missing?