All Forum Posts by: Dennis Nguyen

Many investors choose to do 30 year fixed because of the lower monthly mortgage payments. Depending on the rent you're able to bring it, some properties would be very hard to cashflow on 15 year mortgages.

I would just go by marketing through the typical routes. Facebook marketplace, Cragslist, zillow, even Airbnb. Just make sure in the description you mention that it is a "rent by the room" and they will be sharing common spaces. As long as you are transparent up front, there won't be an issue.

Hi Terima! I have a lender you can work with, I'll DM'd you their info. 

There are so many real estate strategies that work - I think for now since you have time and are recovering you can dial down into which one you want to do. You can always offset high mortgages by house-hacking so you can take that into consideration as well. There is plenty of great/free information here on BP that you can utilize before you pay for a course or mentor. I would utilize that first - wishing you a swift recovery :) I'm a realtor in Seattle area if you ever want to chat 

There are multiple loan programs that could work! I would recommend talking to a local lender in your area and see what programs that have going on at the moment. You can do either FHA or conventional, but as a first time home buyer there could also be down-payment assistance programs you can qualify for so you never know.

Hi Justin! House-hacking is one of the best strategies for real estate so I'm glad you're looking to do that. I'm an agent in Seattle and I can say if you're looking for a mortgage less than $3,500 in Seattle / Magnolia / Queen Anne area that is unrealistic because home prices in those areas are high. I would think a mortgage in those areas would be at least $4k-5K with todays interest rates. If you are willing to go down south a bit to Beacon Hill or West Seattle it could work. 

I think the question is what kind of weather are you looking for your househack? If you prefer the sun definitely being in CA makes more sense because Seattle is known for its rain and cloudy weather. However we have great nature / hiking trails if you are an outdoorsy person. 

Hi Tan! Great job taking the first step by posting on these forums. I cannot give advice investing out of state since I don't have a lot of experience, but something you can look into is house-hacking here in Seattle. For 400K you may not be able to live in the city but there are options that work if you're willing to go south. For 400k you can house-hack in Tacoma or possibly Kent.

@Karen Guo great job taking the first step by posting on BP and asking for feedback. Redmond is on the more expensive side so I would definitely recommend the house-hacking strategy. You might not be able to get paid while house-hacking like other areas but if you break-even or even pay a few hundred a month that is a huge win. I have done a few house-hacks myself here in the Seattle area which is not too far from Redmond. Feel free to reach out with any questions :) 

Prices would vary depending on the service that they provide. If they are only going to file your taxes then that would be much cheaper than if they sat down with you and advised you on best strategies, etc. I would do an introductory call first with a CPA and ask for their prices and services they offer. Introductory calls are usually free. 

I wouldn't worry too much about a CPA though until you get at least your first property. If you are going to purchase a duplex as an owner-occupied house hack, it would have to be under your name first before you even LLC it... many different things to think through. I'm a real estate here in the Seattle area, feel free to connect if you have any more questions :)

That book jump-started my real estate career haha. Definitely give it a try but do NOT go to any of his workshops. I have heard they are a waste of money and only pitching you to buy additional courses.