All Forum Posts by: Robert Andrade

@Mike WoodThe comps suggest that's what the house is probably worth. $160ish. I haven't negotiated anything yet so the $115K was wishful thinking. After a conversation with the seller (for sale by owner. asking $135K  No commissions to pay) I may realistically be able to pick this one up for $125K. House is renovated, Long term handicapped tenant with section 8 paying $775 mo. Numbers are still good

@Lee McCarthy Have you tried the "I'm the man of this house and I make the decisions around here!" approach? After the divorce you can invest whatever money you have left however you want.

You're welcome ;)

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thanks @Andrew Syriosand @Ross Denman

Very helpful. 

Hey Y'all

Im looking at a duplex that has potentially great #s when both units are rented but if I house hack for that first year or two there's no way to make the #s positive. 

       https://www.biggerpockets.com/calculators/shared/376407/ee3559e4-bd98-4736-acc6-df7d38de66ed    

cash flow of -$255 and CoC ROI -52.5%

once i move out and rent the second unit I'm looking at MCF of $460. and CoC of 54.99%

of course these aren't hard figures but probably pretty close. I'm using the BP rental property calculator 

does this make sense? Is this typical when hacking?

There are a couple foreclosure listings in my area that have comments on MLS that day, "no access to property. Uncooperative tenants." Am I right in assuming this is a major red flag?

I was thinking the same as Don. I can't imagine any serious investor taking you on as a partner without you bringing some serious skills, verifiable skills, to the table. If I were a more seasoned investor and you approached me with this deal as an absolute newbie I would be extremely hesitant. IMHO you are reaching too high too fast. No experience and you want to offer to be a manager of an apartment building? There are many forums here that suggest different ways a new investor can get started but I haven't seen that strategy in any of them. LOL Maybe start with your circle of family and friends and see if someone is interested in investing and learning the business with you. Good luck. Keep reaching for the stars but build your ladder rung by rung.

Simon Cox No. Lol This field fills itself in after all info has been input. It's usually a big scary number and it suggests this is the amount of money I will need upfront to buy the particular property I am analyzing. I'm just not sure if that is taking into account escrow money or what. I was using the multifamily rental calculator in the tools section.

Hey everyone, What does this # consist of? I was playing around with one of the calculators in the tools section and after inputting all of the information it gave me the cash on cash ROI and other information and in bold font it says "total cash needed." Does this include escrow?

anyone know what I'm referring to?