All Forum Posts by: Conner Olsen

David Greene says house hack every year and if you have funds left over buy investment properties.

 My Chez Space

We just had a local company speak at one of our meetups about how they do manufactured housing. The owners of the company have 10 acres where they build a few manufactured homes and use those as STRs.

 Ryan hit the nail on the head with his response. When looking for homes with roommates avoid HOAs and make sure it works with the previous laws in place. There is some litigation pending with the recent updates by the city council so worst case scenario if it gets reset you'd be ok.

Hey Tate, welcome! When determining what investments you want to pursue, I always start with the end goal. Do you need cash flow now or can you wait? Do you have a large down payment now or a small down payment? How long do you plan to hold a property? Is this more of a retirement move or are you looking to get in and out within 5 years? Questions like this always help me to narrow down my focus.

Tip: Go into ChatGPT and write out your current scenario and tell it to ask you up to 20 questions to help you narrow down your real estate investing strategy.

 This gives you extra outs in the contract. Here is the specific section: 

"Within (insert number) days after the Effective Date of this contract, Seller shall deliver the Notice to Buyer. If Buyer does not receive the Notice, Buyer may terminate this contract at any time prior to the closing and the earnest money will be refunded to Buyer. If Seller delivers the Notice, Buyer may terminate this contract for any reason within 7 days after Buyer receives the Notice or prior to the closing, whichever first occurs, and the earnest money will be refunded to Buyer."

If they don't give it to you, you can terminate whenever you want. There are a few exceptions of properties that you are not legally required to furnish a SD, like a multifamily property. In that case this doesn't apply.

Hey Dilip,

Your best bet will be targeting new construction and taking advantage of rate buydowns offered by those builders. Many builders don't offer enough to make a substantial difference but some offer some great rates for investors. With those properties, I'd look 2 suburbs out at entry level 3/2 1,500 sqft+. Those are the sweet spot for rentals right now.

In my experience, the second bathroom is going to add more ARV value and not much more rental revenue. Look at it from a resale perspective.

I'd do option 1. Your breakeven point is 1.3 years, ROI on $10,000 is 73%.

To my understanding it is an expense!