All Forum Posts by: Yaniv Yarkony
Yaniv Yarkony has started 2 posts and replied 3 times.
Post: Purchased a Triplex and looking to grow maybe Brrrr the next.
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I purchased a triplex in South Florida for 440k in Januray with an fha loan with 3.5% down. Ive been living in one of the units. Ive put in about 65k in rehab and fixed up all three units. One rents for 1750 and one rents for 1250 and im living in 3rd biggest unit.
My mortgage payment is 2900, so im basically living free. My unit when i move out could rent for 2000.
What is my best option moving forward? I have no idea what it would appraise for but guessing maybe 550k as there are no comps in area that are triplexes. If i refi i wont get lots of money out enough to re invest or should i go to the Heloc route?
what do you guys suggest here?
Post: How do i determine rents in an area?
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But this is negative because im living in one of the units in an expensive city.
Post: How do i determine rents in an area?
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Im about to buy a duplex and when i use rentometer to verify rents it states that the average rent is $2700 for a 3/2 but duplexes with the same br count and sq feet size for some reason rents out for 1700-1800. So i went and checked numerous in the area they are all the same. But i just dont know if thats considered "under market" and if its worth to BRRRR those if they are decently renovated?
and how much should cashflow be? Is it ok to be in a negative and pay 700-1000 on the mortgage or is that considered a bad deal?
Thanks