All Forum Posts by: Ryan DiCanio

@Michael Plante thanks for sharing that! So in my above thread, for someone looking to get into their first house hack or just investment property in general; could being too conservative with your numbers be holding you back on getting in the game?

@Andrew Kougl no not looking to house hack any “dumps” per say. Only updates I have seen so far may be to either cabinets, bathroom tile, and maybe update appliances (but again, still need to educate myself on the returns if I do so).

Yes trulia is a site I have been using to look up the area in regard to crime rate, thank you for that.

@Collin Lee Johnson so a follow up question to you would be: Could being too conservative allow you to miss out on some good cash flowing properties?

From a perspective of someone looking to buy their first investment property, a big piece of advice I keep hearing is just to get your foot in the door. Now obviously I don’t want to invest in a terrible property that won’t cash flow for me, but I also feel like if my numbers are almost too “secure” it could bar my entry into the business. Thoughts?

@Andrew Kougl so my plan as of right now (but obviously could change throughout my education process) is to house hack again after this house hack. I would keep the my first property for the cash flow while living in the next property (that is why I don’t have a PM expense). Looking for residential multi family homes.

Hope this helps!

@Andrew Kougl so when I run my analysis, I first run the property for after I am done house hacking it. I have vacancy and repairs at 4% and Capex at 6%. Only utility I accounted for was water because it is not submetered. Then if it cash flows nicely then, I look into the numbers of when I am house hacking.

Thoughts on improvement of my analysis?

@Collin Lee Johnson this helps a ton! Thank you for clarifying this for me. It's funny the day that I asked what property class meant, I read about in "The House Hacking Strategy" book! But again thanks for the further clarification. 

@Dan Armich could explain what you mean by a “D Class” property? I am unaware of that concept.

Hey BiggerPockets Community,

I am having some issues with overcomplicating my analysis' right now. If the numbers look "too good" I feel like I may have not accounted for something or am overvaluing a certain aspect of the property. This then gets me stuck analyzing the same property trying to figure out where I went wrong.

Any thoughts on how to mitigate that feeling and become confident in my numbers? Does it come with experience?

Any feedback would be appreciated!

@Michael Swan thank you for the tip, I will tune into that podcast! Lets connect further, I would love to gain more insights from someone who has success like you!

@Account Closed Absolutely, finding a good PM is key from that standpoint. I would love to connect further with you if you'd like!