All Forum Posts by: Daniel Sager

@Jacob Humiston

It snowballs quick. I did house hacking with my previous SFHs after I fixed them up and made great returns when I sold after about 2 years each. Did an FHA loan on my current 4plex with the owner/occupy program. Haven't decided yet what my next step will be but I only put down 3.5 on this building so I still had cash for the next venture. May refi out into a conventional so I can do another FHA owner/occupy with 3.5 down on the next building.

@Jacob Humiston

As long as it won't cause any issues in your relationship, would be a good idea to rent out the other bedroom as well which I can only assume would being in an additional $550-$650 per month depending on the area, amenities etc.

Definitely start stacking as much $ as you can, as fast as you can so you can go buy another spot soon; I'd recommend a triplex or a 4plex as the numbers typically work more in your favor for living rent free or very close to it.

Also, if you have the opportunity to add value to the current place you're buying, use the "income" to renovate and you can resell and throw your profit into the next place.

I'm not an expert by any means but Ive done two "slow flips" and now have a 4plex and looking to add more doors very soon.

@Jacob Humiston

I'm curious, how many bedrooms are in this house you are purchasing?

@Yosef Lee

Quads are tempting haha. I met with someone else and he was showing the equity numbers you get (along with the crazy depreciation) in 10 years so now I'm back to being undecided 🤔

@Jamie Rose hitting you up now

@Connor Dunham thanks Conner that's what I'm getting as well.

Need to add that myself or friends would plan on doing a majority of the maintenance/repairs outside of major items like roofs and such. I'm comfortable doing or contracting pretty much everything else.

Hi all,

I'm curious who investors in Anchorage use for property management. I am self managing my current 4plex that I live in but looking to add two more buildings over the next year and would like to budget the PM fees into my expenses so I can focus on other things.

I don't want to overpay but don't want to underpay either (said everyone ever!!)

@Skyy Dugger if you are looking to buy something several hours away and plan on doing an owner/occupy so you can take out an FHA loan and only out down the 3.5%, I highly doubt the bank would approve you for that. If it's like an hour and you tell them you are commuting that *shouldn't* be a problem but several hours would be a tough sell I would think.

Underwriting is essentially the people that approve you for the loan. They go over all of the documents and give the green light. I am on my third property and have had to write at least one letter to underwriting on every one for various reasons.

For one, I claimed no debt but had been sending money to a family member every month for a year to help them out so, when I submitted my bank statements, they noticed and asked. I just had to write a letter explaining what it was and it was okay.

@Charles Carillo

Thanks for the quick reply; it's late in Florida!

Rules for FHA owner/occupy is 1 year but it is very easy to move if something comes up where you need to 👀. Just need to write a letter explaining why. That being said, I have no problem owner/occupying my way to the top one year at a time.

That's an interesting way to look at the sweet spot. There are quite a few commercial properties here that have been on the market for a hot minute. Seems that people overbought when it was hot from 2010-2014 and now can't take a loss. 4plexes are similar but I managed to find a great property that cashflows well. I'm trying to do this sans partners because I haven't researched enough to feel comfortable so it somewhat limits what I can buy solo