All Forum Posts by: Catie Mong

Found the answer in another thread, but can't figure out how to delete post

For clarification, this is to fill a room for a 3br/ 2ba.

Hello I recently bought a house hack and have two housemates moving in at the end of the month. I was considering getting an LLC for signing the contracts/property management. Is this recommended, or should I just get an umbrella policy? Would I be able to write off as much taxes if it's under the LLC? My main concern is a liability, but I don't have much in way of personal net worth. If I don't get an LLC, am I fine with an umbrella policy and a separate bank account? Any help appreciated!

@Liam B., I ended up buying a house in a neighborhood north of bear creek

I recently moved to Merced for work and am looking to house hack instead of rent. However, it seems like there are very few houses on the market, at least in an area that I would feel safe. It seems like the market is very competitive right now, and I'm concerned that the low interest rates are encouraging people to buy, but may result in a crash the next few years. However, it seems like because of the surrounding farmland, new housing construction is limited. 

I'm placed a counter-offer on a house for 274k (20k over asking price although my realtor agrees that it was about 10k undervalued to get multiple offers). 3br/2ba built in 1993. Great condition house in a good area, but not great. It's appreciated a lot the past few years, and I'm wondering how much more it will appreciate. Monthly cost (including budget for future repairs) is $1500.  Already have a coworker interested in living with me for $650. Assuming I can get another tenant for the same price, does it make sense to go ahead even with concern about limited appreciation? Currently, my rent is $900 for an apartment. I don't plan on living in Merced for more than 5 years, but am open to renting the property if it hasn't appreciated. 

I live in Merced (recently moved for work) and am also concerned about whether to buy now with low rates, or wait to see what happens with the economy. It seems like in Merced there are very few houses on the market--at least ones in a safe area. I'm a young professional and my aim is to house hack and live closer to UC Merced to make it more attractive for renting in the future.@Dustin Allen, if there is a shortage of houses, is that a good or a bad sign? My thinking is that with all of the farmland, new housing has been limited.