All Forum Posts by: Aaron Duplex

I'm interested in seeing your ideas on what you'd do with this large amount of money. 

With everything going on are you happy or have you ever been happy while being a landlord? 

I'm looking for an accountant whos in my area and knows real estate investing. Also someone who knows Covid type questions when it comes to taxes. Thanks

I had a HELOC of 110k and just closed it for a cash out refinance on a rental. I could pull 70% of equity because it's a rental but if you live in the property you can pull up to 80%. This was new to me and after all of my studies it was the right move. It only raised my monthly payment by $180 which my renter's pay. May not work for you but keep looking good luck.

Does anyone have experience with two story single family conversion into duplex. In my area it might be worth it to convert instead of purchasing a duplex because of high purchase costs for rentals. 

Ryan,

Go for it! I love that response and thanks for clarifying making sure to follow up with the proper steps with contractor and so on. I have received great council and will definitely be looking into everything with the city. Joining BiggerPockets so far has been very helpful. Thanks for your council

Mack,

I haven't thought about why more duplexes haven't been built around my area. That's something I'll need to check in with. I like the idea of possibly working with a contractor who has experience with the first build then maybe try on my own. But I'll fist look into the costs. Thanks for your council

Jonathan,

Ive looked into investing in another state but I have worries with doing so. For instance I live in Washington state and an area I've thought about investing in is Austin Texas but I don't know anyone who lives there. When hiring a management team to take care of renters and property I'm worried that things go correctly because I won't be able to view property. How have you done with your rentals in another state are your expenses high for management. Thanks for your council

Dan,

The plan would be to build and hold. An older duplex on our street just sold for 700k. I think we could get 3 duplexes on the property our city just changed the zoning laws to allow for density. Thanks for your council.

I own a duplex and the property is big enough to subdivide multiple times. In my area it's expensive to buy and very competitive to get multifamily homes. I have cash and I'm not in any rush. I've never been in this position of wealth before and know I'm at a crossroad in life that can continue to bless my family or be a hardship. If anyone has some suggestions I would greatly appreciate it.