All Forum Posts by: Simon Obas

@Bill Brandt appreciate your response! Seriously, thank you.

@Michael Kay thank you for responding, I appreciate it. Ideally, I’d like to cash flow form the beginning however, this house seems like the true rewards are in the long run.

@Margaret Johnson thank you.

@George W. Typo, my bad. It would be positive.

@George W. It works be positive.

Planning on purchasing a triplex. There are two tenants already living in the house. Market rent should be $1000 per unit but one tenant pays $650 (and is month to month). The other pays $800 and signed a 2 year contract that expires January 2021. Mortgage will be $2300 (insurance price is included).

I plan on house hacking but I have to honor the tenant’s rental contract. I will raise the other tenant’s rent to $1000 ASAP. I am looking to get my first deal and stop paying rent ($1905 a month). Would this purchase be a bad deal knowing that I would have to come out of pocket $500 hundred dollars a month— and then raise the rent on the other tenant as soon as her contract expires? I plan on living there for a year and then will buy another home and house hack again. Please let me know your thoughts.

@Ryan Deasy thank you. I’ll keep you in mind for a contractor. I will check out your recommendation as well.

@Christopher Phillips triplex

Just got my offer accepted. Can someone tell me about the underwriting process?

What happens after my offer gets accepted?