All Forum Posts by: Olaseni Akinlade

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Jason, I hear you. In that case, let me ask you, do you have an LLC or some biz entity?

If, yes,then talk to your tax accountant about deducting some of what you'll be paying for the apartment as a biz expense for your LLC or biz entity.

Jason, I hope that helps.  Cheers

Jason,  Since you're occupying 1 of the units, that is $0 dollars in income to you.

  As such, when you run the #s, you MUST exclude that unit.  If the #s do not work with this unit returning $0, then its not a good deal.  

Cash flow is King from Day 1.

Jose,  Remember we make money going in.  Having said that, let's crunch some #s:

Asking price: $359K using the 1% test you'd need a min $3590 in monthly gross rent

Let's say you negotiate the price down to $287K (Giving you 20% equity) The 1% test calls for $2872 in monthly gross rent.

Now, what is the Free Cash flow to you after expenses?

Let's assume using the 60% goes to expenses,  This leaves you with, $1149 in free cash flow.  Are you cool with tha?

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Thank you Mike.  I'll research the rental #.  Thank you.

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*This link comes directly from our calculators, based on information input by the member who posted.