All Forum Posts by: Paul Hamilton

Thanks @Mike Cosmah I like that idea of driving for dollars. 

@Andrew Freed

Good to know about the number of units. I'm looking at all 2-4 unit properties. Just slim pickings. I've been running the properties as though I'm not house hacking and also at the rent I would like to achieve. I've also run with property management and no property management. I thought I would find some cash flowing properties too and figured I was doing something wrong. Maybe that's why they're still on the market...

I really appreciate the info you provided. Let's me know I'm on the right track and doing it right, for the most part, in my calculations. 

@Bjorn Ahlblad Yup, I won't be purchasing until the divorce is finalized. I'll be renting in the meantime. I would love to find a triplex or duplex. Seems like slim pickings. 

@Tuna Sakallioglu Thanks for the book recommendation. I will check it out. 

From the pictures it shows two separate electric panels. Does that guarantee they have separate meters or could they both tie into one meter? I think you're right about reaching out to the agent to find that info. I was just hoping there was a quick and easy way to do it without having to call every agent each time I want to run a property through the calculator. 

Sounds like the same MLS #'s are used in different states. This is in Gresham, OR. Perhaps put that after the MLS # and see if that helps.

Hi all, I'm new to BP and have seen a few posts that refer to the rental class. How does one determine what class the rental property is in? Obviously, location, but am I seeking out specific numbers, and if so, which ones?

Also, I've run every duplex in the RMLS through the rental calculator and all of them are coming back as terrible investments. Granted, I'm putting in 3.5% down (FHA) and plan on house hacking (I do add my "rent" to the calculations). I even changed one to 20% down and it still comes back as -$250 a month. I'm doing 10% cap ex, 5% vacancy, 0% management (I'll do this while living in one side), 10% maintenance.

Here is the MLS # 21022614. I'd love to see what numbers someone else comes up with. The less money I can put down the better. Newly divorced, switching careers from teaching to real estate. Times will be lean for a little while.

Thanks in advance. 

Hi all, I'm running each multifamily property in my area through the rental calculator as practice (while also looking for a good deal) to buy my first duplex. I'm not entirely sure how to calculate numbers. The "Help" link has been useful in some areas but others not so much. Here's what I'm putting down.

Closing costs: 1.5%

Interest Rate: 4% 

Property Insurance: I've just been putting $200 a month. 

Repairs & Maintenance: 10%

Vacancy: 5%

Cap Ex: 10%

Management Fees: 0 (as I will be living in one side)

Here is where I really struggle:

Electricity: I leave at 0 because the tenants will pay their own right? How do I find out if there are two meters?

Gas: I leave at 0 for the same reason above. 

Water & Sewer: I've just put $100.

Garbage: $0 as I imagine they would pay their own. 

Other: $0. 

I'm a total noob at this. Just trying to learn. I really don't want to have to call the utility provider for electricity, water, etc. each time I run the calculator. Is there another way?

Thanks for any help you can provide.