All Forum Posts by: Adam Bosley

@Jason Wray so I had a bit of a typo. We are looking to either help the home cash flow or pull money out. It looks like we’re leaning towards lowering the mortgage in order to help cash flow.

@Daniel Hunt everyone and their cousin wants to househack on a small multi family starting out. Not saying it impossible, but you will be wise to look for other ways to get your foot in the door. I was in your same shoes just 4 years ago and would recommend finding a townhome/condo and house hacking with a roommate first. It won’t cash flow to the point where you can quit your job but natural/forced appreciation is a beautiful tool to building wealth.

Hi BP Family,

I purchased a townhome in 2017, this was my personal residence and I fixed it up while living there. The home is now tenant occupied but my mortgage has not changed. My wife and I would like to refinance to help the home cash flow a bit and help fund another project.

If we refinance, does the mortgage get rewritten as an investment property? Or can I apply for primary residence fixed rates?

The refinance does not help the numbers as much if the property is now deemed an investment property.

Happy Sunday,

Adam

Hi Bigger Pockets,

I am a young investor with two properties. One is tenant occupied and the other is my primary residence. This is the first year where I have rental income and will need a CPA to file my taxes. There are a million accountants in Raleigh but I would prefer to go via referral rather than a google search. 

All recommendations are GREATLY appreciated!

Happy Tuesday,

Adam

Hi Ryan, Welcome to BP!! The BP podcasts and their forums have definitely given me the knowledge and courage to get into my first deal. I'm in the North Hills area now and was able to find a deal that closed in the 140s for 2bed/2.5bath townhouse. I love meeting with other local investors. Send me a message if you want to meet up for coffee and chat.

Hi BP Family, Any opinion on whether a hot sellers market/high property costs have a positive correlation to high construction costs? Best, Adam

Hi BP Family, If I were to purchase a plot of land zoned for multifamily and then build a duplex, will the bank require a cash closing on the land and then a construction loan to build? Or can I lump both the land and the construction into one mortgage? Best, Adam

Hi BP Family, I'm looking to purchase my first duplex. Unfortunately the cost to purchase is much higher than the cost to build. So here's the million dollar question. Does anyone have tips/experience with finding information on a county level for where property are zoned for multi family? Best, Adam

Hi BP Family, I'm looking to purchase my first duplex. Unfortunately the cost to purchase is much higher than the cost to build. So here's the million dollar question. Does anyone have tips/experience with finding information on a county level for where property are zoned for multi family? Best, Adam

Hi BP Family, I need to replace the stove/oven in my rental property. Are their any preferences for stove tops with heated coils vs glass stove tops. I remember my roommate shattered the glass top on our stove in college and I would prefer to avoid repairs like that. The heated coil stove tops seem to be a little more durable for tenants but I wanted to see what the BP family thought before I bought anything. Best, Adam