All Forum Posts by: Bekah Brown

One thing that came to mind was, "don't wait to do something, do something then wait!" This looks great. thank you for going over this, super helpful.

@Michael Thomas I was at the conference too! It was so good!!! House hacking is powerful and also not as challenging/scary as one may think. Happy to connect to share stories/answer any questions.

I use my SDIRA as a private money lender for fix and flips until I can build up enough capital in it to pay cash for a property to hold in the SDIRA. I would not go the loan route as typically the terms are crappy and finding a good lender to work with can be challenging. I would recommend looking at Directed IRA for more information or listening to Main Street Business Podcast- they are lawyers and CPA's so their advice is solid IMO. Good luck!

Rocky Mountain Women Invest is a great one that meets once a month. Envision Advisors also puts on a monthly House Hacking Meet Up that covers everything from Air Bnb, Room by room, and long-term strategies. Both are awesome and if you come than I will surely see you there :)

I love that it wasn't a "deal" right of the bat but the Returns were made with some creativity. It is a true example of what having a REAL Investor Friendly Realtor can provide! Amazing way to use leverage with the Grant Program too.

Okay! These numbers are nuts. The creative strategy is everything when getting in to a higher priced market and needing to have cashflow. Amazing job Andrew!

7.4 cap in CO is AMAZING. I also agree with the mindset shift of "ah man this sucks" to "I took care of it and now I have great contacts and knowledge of what to do next time". 

@Vasily R. I'm curious, did you have money put aside for the Challenges listed above BEFORE you got into the property? I see you keep 6% reserve, but depending on when those incidences occurred, how did you cover if that reserve wasn't built up enough yet? What would you recommend for future HHer's in regard to this?

Just remember that if you invest out of state as being a CA resident you will have to pay capital gains tax in the state you're investing in and in the state of CA...I believe... I would definitely talk to a RE CPA/Attorney before proceeding. Not to mention most likely needing to factor in PM, realtor fees, a 25% down payment ect; which is going to grossly affect your $$$. So sorry.

Disclosure is always your best friend if you hold license and are on any side of a transaction.. I would also recommend having a mentor available to walk you through your first transaction, there will be questions that come up that can be tough to figure out if you don't have the right resources!