All Forum Posts by: Brandon Andreola

@Zac Lindquist I would give PJ Hussey Property Managment a call! I'll shoot you their info. 

@Cory Palmieri Hows it going man! I also used my VA loan to "Househack" I didnt personally wind up going the multi-family route but that was just because of the opportunity. Another option is to get a place with an attached "Casita" or guesthouse. Rent out the other unit, or even airbnb is an option as well. I wound up covering a majority of my mortgage going this route. Not the only way but definitely another option to think about as well. The great thing about multi-family though is you can use the rents in the occupied units to qualify as income as well. We should connect!

Investment Info:

Small multi-family (2-4 units) other investment.

Purchase price: $370,000
Cash invested: $2,500

Purchased a two-unit property (Technically an attached guesthouse w/ separate entrance and living space) in a market we specifically moved to based on the growth of the market. Decided we wanted to invest in Phoenix so we determined the best way to do it would be to purchase a property and househack, we rent the additional unit out for 1350 which covers 80% of our mortgage.

What made you interested in investing in this type of deal?

It was the best strategy for this market, find a house with an attached unit or guesthouse and airbnb or plug in a long term tenant. Offset cost of living and reap the rewards of being in a market with fantastic growth trends.

How did you find this deal and how did you negotiate it?

Although Im an agent, I hadnt yet got my license in AZ, I was still relocating from NC. So I connected with an agent who understood the investor mindset. Knew what househacking was, and understood the best way to do it in this particular market.

How did you finance this deal?

VA Loan - $0 Down

How did you add value to the deal?

Using the additional living space "Casita" or commonly known as guesthouse in other markets to rent/Airbnb to househack and reduce living expenses.

What was the outcome?

Great equity gain, us living for less that $400 a month.

Lessons learned? Challenges?

Definitely connect with an agent who is familiar with the investment strategy you are looking to implement. It took us a few agents before we found the one who understood what we were looking for.

Every marketis different so you have to find a niche in your particular market that works.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Not on here but yes!

Investment Info:

Small multi-family (2-4 units) other investment.

Purchase price: $370,000
Cash invested: $2,500

Purchased a two-unit property (Technically an attached guesthouse w/ separate entrance and living space) in a market we specifically moved to based on the growth of the market. Decided we wanted to invest in Phoenix so we determined the best way to do it would be to purchase a property and househack, we rent the additional unit out for 1350 which covers 80% of our mortgage. Sure, its not completely covering expenses, but the equity gain of being in a market that tops the nation in growth is a huge win!

What made you interested in investing in this type of deal?

It was the best strategy for this market, find a house with an attached unit or guesthouse and airbnb or plug in a long term tenant. Offset cost of living and reap the rewards of being in a market with fantastic growth trends.

How did you find this deal and how did you negotiate it?

Although Im an agent, I hadnt yet got my license in AZ, I was still relocating from NC. So I connected with an agent who understood the investor mindset. Knew what househacking was, and understood the best way to do it in this particular market.

How did you finance this deal?

VA Loan - $0 Down

How did you add value to the deal?

Using the additional living space "Casita" or commonly known as guesthouse in other markets to rent/Airbnb to househack and reduce living expenses.

What was the outcome?

Great equity gain, us living for less that $400 a month.

Lessons learned? Challenges?

Definitely connect with an agent who is familiar with the investment strategy you are looking to implement. It took us a few agents before we found the one who understood what we were looking for.

Every marketis different so you have to find a niche in your particular market that works.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Not on here but yes!

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $85,000
Cash invested: $18,000

Contributors:
Shelby Osborne

Hosuehack/Value add to now cashflowing at just under the 2% rule!

What made you interested in investing in this type of deal?

Was looking for something I could create some equity in as well as off-set my cost of living by covering mortgage. No good multifamily at the time so a value add househack that would cashflow seemed like the best alternative!

How did you find this deal and how did you negotiate it?

It was an off-market deal, my super well connected agent at the time hooked me up. We jumped on the opportunity and got it under contract.

How did you finance this deal?

VA loan- $0 down

How did you add value to the deal?

Did some small updating, painted and added new flooring. Everything was very outdated. Just needed some attention.

What was the outcome?

Got the deal and 2500 towards closing costs.

Lessons learned? Challenges?

Find an agent that understands investing and is well connected in the industry!

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Shelby Osborne, Five Pillars Realty Group.

Looking to relocate to one of those cities and house hack a MF (preferably 4 unit) from what I can tell they are all good markets for buy and hold. Relatively similar cost of living. SLC has higher median home prices, also believe it's very up and coming. Houston is diverse, fortune 500 companies located their, a strong robust economy. What do you guys think are the Pros and cons of the markets? And ultimately which is a stronger buy and hold location? (Just curious because I really am torn between them)

Hello Everyone, Im currently Active Duty in the Army stationed in Fayetteville NC. I have a home under contract and will be getting out next August. My wife just graduated flight attendant school and is immediately being relocated to Chicago. My plan is to find a multifamily house (tri/quad) to allow her to house hack in the mean time to reduce costs and acquire realestate in markets with an upside. Any investor agents out there? Any and all advice is appreciated.

@Anthony R. Thanks for the reply! Ok I'll be sure to take another look the numbers I ran on the BiggerPockets calculator showed Id be cashflowing over $200/mo. Where did the monthly payment of $1600 come from? My numbers showed a little over 900 for PITI, am I forgetting something? Also I am using a VA loan and paying nothing out of pocket as far as down payment.

Hello Everyone,

I am currently looking at what i believe to be my first pretty good deal. Im 23 and looking to house hack with my wife. We are both super interested in realestate and believe house hacking to be the first best step to building a portfolio.

We recently found a unique property. Its listed for 150k (Sellers said its negotiable right away) it is a single family house, however it has 2 identical units, 2 bed 1bath, kitchen and all. The units do not have meters for utilities. I would install meters. 

The current landlord Is charging 800 a month. Plus $100 for using garage with finished office portion for tenants work. $900 total from the tenant. 

I will try to get the property for $135k. I believe the appraisal will be above the $150 asking price and the numbers work well. It is in a market i really like because of growth and i believe the sub market is improving in that area.

Do you see any downsides or potential issues to a house that is 2 units but listed as a SFH?

Hello everyone,

I’m working on finding a multi family property I can house hack and also provides good cash flow after I move out. Does anyone know of any good real estate agents in the Fayetteville/Sanford NC area?