All Forum Posts by: Thomas Oakley

@Maurice D. I’m pretty sure it’s not sub metered but that is an idea!

Hey BP, I’m using the four square method to evaluate a potential deal. The math doesn’t look good so I’m wondering if there are ways to decrease expenses or if I’m overestimating any costs. My plan is to use house hack using FHA to purchase this 2 unit property. As a quick run down: Rental income $2,000 ($1,000 per unit) There’s no laundry but potentially space to charge storage. Expenses: Taxes ($3133 online) $261/mo Insurance $70/mo Water: called downtown the property is averaging $237/mo Garbage: no cost Electric: tenant pays Gas: tenant pays HOA fees: n/a Lawn/snow: $20/mo Vacancy (5%): $100 Repairs (5%): $100 Capex (10%): $200 Property Management: $200 Mortgage: $785 Expense total: $1973 Income: $2000 Monthly cash flow: $27 I like this property and the area it’s in (again we’re house-hacking here). Obviously these numbers aren’t great but are there ways to make this deal more profitable? Thanks! Best, Thomas

Thank you so much for your response. What about analyzing homes you're viewing online, just as a form of practice? Thank you!

First post! So I've watched a few videos and webinars in addition to listening to a bunch of the podcast. Advice frequently given is to practice doing analysis so when the time comes to purchase property you quickly know what the numbers are. How do you analyze deals and get accurate numbers for expenses? ( taxes, utilities, insurance, lawn/snow, etc.) 

Thanks!