All Forum Posts by: David Paul Westenberger

If i had a solo 401k and invested in a SFH as a investment property.
Could you then rent out that SFH by the room(house hack) for better cash flow?
is this possible?

You will need someone in SA who can be your boots on the ground. 

Have the plumber ready to go once foundation is done. have them do the main line at the same time as the foundation to save on digging costs.

Ah good question, something i need to know as well. google is your best help to find out more information. Seems like the answer is "its depends" type of answer depending on what you are deducting. i would reach out to some CPA's to get your answers.

I am a 27 year old. Have two house hacks. One in Austin and one in Dallas. Its one of the best thing i have done for myself. Cant wait to get my 3rd house hack! Definitely agree with @Danny Webber & what @Diego Corzo say. get pre-qualified first and then run numbers on all day until you find the one that makes sense! 

Each house is different, Just walk each house and know what stuff costs and also get a plumber to run a camera under those pipes if its a slab to make sure you know what your getting yourself into. Worth the 300$ or whatever it might cost. Just add up all the numbers then boom you got your answer of how much it will cost. also maybe read the rehab book BP has. might help alot. 

@Scott Reese its been three months hope you have found something in DFW.

If you are in Plano for work/live. Why not move into a Fixer upper for a year in the colony or in Carrollton. i choose those areas because they are close to Plano and i believe due the amount of Tech companies out in Plano all the homes that are affordable aka those two areas will have to go up in value. you can find a fixer upper for under 200k from whole sellers. Also crime is lower in Carrollton than other areas, I don't know about colony but i would assume it would be low there as well. Just make sure you run your numbers and use the tool calculators. 

be carefull if you buy in very high markets. I would not do it, to risky. any type of rehab work you will do will cost you more. i stick to the homes that are between 150-250k. 

I would start networking with developers. They probably can give you a lot of information. 

also the bank you do a BRRRR with does not have to live in the same state