Introduction from Seattle

[Shain Cannon]

Hello Shain Cannon here, new member, just found bigger pockets a few weeks ago and have been plowing through the podcasts.

Love the network and possibilities. I am a mechanic who has had great success over the year’s buying and selling cars and never taking a loss. (Not always to flip them, just usually I get bored and want something else haha). So naturally the next pathway is to move onto bigger and better things. The housing market generally has an extra zero or 2 at the end compared to the automotive market. Although I don’t believe flipping houses is what I’m interested in. I have a very open mind however. More so monthly revenue.

I live north of Seattle in a city called Everett. We have a Boeing plant here, in fact 5 minutes from my house, so the market is usually pretty strong.

I own my own house. And I will be making a post in another section looking to talk about the numbers. I have a 2-5 year plan to be able to quit my city job as a mechanic and live solely off investment/rental properties. Ambitious I know, but why not shoot for the moon.

I have learned that I already house hack and have since I bought the place. Always renting out 1-2 rooms to friends. I didn't realize house hacking was a thing, I just knew if they were willing to pay for space I wasn't using them why wouldn't I offer the opportunity. I also have somewhat followed the BRRRR method, although without the renting part (The most important) as I just don't think the numbers work. I bought relatively low. Cash out refi after a couple years, rehab, and then refied back into an affordable Loan with about $170k In equity in today's current market. However I still need a roommate to be comfortable financially so here I am! Look forward to discussing the ins and outs of real estate investment.

[Michael Haas]

Hey @Shain Cannon - welcome to BP! We were in a similar boat when we bought our first house in 2013 - we househacked for years before realizing that's what people called it. Back then we just called it being cheap :D.

Best of luck with the journey man and reach out anytime if I can help with anything - 

“Shoot for the moon. Even if you miss, you'll land among the stars.”