All Forum Posts by: Rhiannon Then

So all this has me thinking of my own situation. We bought our first home two years ago to live in. We had not seriously thought about investing yet. Now we are ready to make our first investment purchase (duplex if possible) and use our current home as a rental. Here we were thinking we were going to make cash flow but in reality it sounds like we will just be getting our money back. We put down $35,000 on this property and put another $10,000 after closing. We paid 71,400 for the property. We owe $19,600. Would likely make $750 in rental income. We thought we'd double down on the mortgage with this money and put $500 towards it. Saving the remainder for Capex reserve. Would it be best to refinance and use the money for down payments on other properties?This way any money generated on this property is truly cash flow because we are using leverage and not our own money? Am I looking at this right?

I have to replace my all tile shower in my current home that I am planning to rent out. Water is leaking through an improperly installed glass sliding door. At least this is what my husband suspects is the problem. The water is hitting and damaging the dry wall, which he says he can easily replace. Whoever did the tile did an amateur job. It's not the most ascetically pleasing set up? Was wondering what is the most cost effective way to replace this. Are fiberglass stalls reliable? Any other options? My husband would be handling the installation. Tile looks nice but don't really want to make the time. My property will probably rent out for $700 or $750 no matter what we do because of the location, so don't want to make luxurious upgrades. I want something that looks pleasing, is reliable but is not expensive. New to remodeling Thanks for any tips, Rhiannon

Carrie Carlton I'm trying to find my first house hack with a duplex in Mesa, Az. What I'm finding is that properties listed generate a negative cash flow even if I rent out both units. More of course if I live on one side. Is this typical for you? If not, what marketing strategies have helped you to break even or do you generate a cash flow right of the bat?

Hi!

I currently live in North Arizona but am planning a move to the Phoenix area this summer. I am interested in investing in a multi-family home, preferably a duplex that my family can house hack, renting out or Airbnbing the other side, depending on what's more profitable. Seeking advice on how to find a reputable realtor and mentor to guide us. Willing to help out in anyway to obtain knowledge. My husband and I are both educators. My husband also has a background in accounting. I currently homeschool my three children. We have learned to live off nothing being on one income and would like to generate some wealth for our future.

Best,

Rhiannon

Thanks, @Glenn D. your enthusiasm to help others is appreciated. I wish you much continued success!

@Brett Snodgrass, how do you set up a keyword alert?

Thank you, @Ned Carey and @Jason Hirko. So much to learn. I appreciate your willingness to share.

Hi Ned, can you explain further what you mean when you say, off market deals of deals..."?And how do you find these deals?

Thanks,

-Newbie

@Ned Careyundefined