All Forum Posts by: Tyler Segebarth

@David K.

Thanks for your opinions. I do have quite a bit of experience estimating rehab costs, (I’m a project manager for a contractor) so I think I’m pretty good there.

I don’t have any concerns about the legal stuff, as I don’t intend to commit mortgage fraud

Just out of curiosity, if you don’t invest in duplexes, what do you invest in?

@Jon Arsenault

The plan is to live in it for a year due to the FHA loan.

@Allan Smith

Thanks Allan, I’m pretty confident in my numbers, I guess I was just looking for some validation. The sale price is actually lower than the comps in the area, although the property is in a little better shape. Even if I only get $500 per side, It will exceed the 1% rule.

Super excited to get in the property, Thanks for the encouragement!

Hey guys!

So I have my first property under contract, and I’m interested in hearing some feedback from you guys on the numbers. The property is a 2 bed 1 bath duplex that I plan to house hack. It is in what most people would consider a C class neighborhood.

Purchase price $85000

Loan type: FHA

Potential monthly rent: $600 per side

Rehab budget: $5000-$9000 total

PITI: ~$590

The seller has agreed to pay $2000 towards my closing costs. There’s probably some stuff that I’m forgetting, I’m just hoping to hear what you guys think about the deal.

Thanks!

Tyler