All Forum Posts by: Dave Madoch

Looks no further than @John Warren!  After you find an investment property you will still have him and his team in your back pocket for any questions you have which is different than most realtors. 

Hey Luka

Our 3 flat/airbnb is in Andersonville. We go back there for Nov/Dec for holidays. 

I figured 12S would be out of the question for investing. We do plan on living in the property for a couple years(or at least that is the plan). After that we would turn it into a LTR or STR depending on demand. Since we will be living there we would want to be walking distance to a few things.

I will DM you

Hi All, 

My wife and I are moving to Nashville, TN in January to find our next investment and to try a different city. We are actually here now exploring. 

The ideal situation would be find a SFH with an ADU. We would live in SFH and airbnb the ADU and then Airbnb the SFH as well while we are traveling. Since this would be an airbnb the house would need to be somewhat walkable to restaurants, bars, stores.

Of course 12 South is one of our favorite places but at a quick glance it would be difficult to find a property that would cash flow or even make sense, but I could be wrong. 

The Nations would seems to be a great investment opportunity but I would be concerned about flooding being that close to the river. 

Any thoughts on these 2 neighborhoods? What other places should we check out? We have visited Germantown, East Nashville, The Nations, 12 South, Downtown, Hillsboro, Sylvan Park

We just started with Domain and are impressed so far. Let William know Dave Madoch referred you. 

William Gibbs President/FounderDomain Homesharing Management domainhsm.com

Huntington has a good HELOC program but I would not tell them you plan on moving out. They typically prefer owner occupied.

My wife and I will be moving to seattle area in april or may this year. Looking at the current market prices I would really like to buy a duplex or 3 flat to house hack. I have lived in Ballard before and really liked it. I have no desire to live directly downtown. What other areas are good to look in for a potential multi family househack?

We also have thrown around the idea of buying landing and building something. Does anyone know a ballpark construction cost per unit in a more suburban area similar to Snohomish.

Thank you 

I have read through many of the chicago STR ordinance website pages but I can't seem to find the answer to my question.

I own a 3 unit building, how many units can I turn into a STR? I plan on partially live in one unit when I am in chicago and then airbnb the rest of the time. The middle unit I was planning on a long term lease but I think it may be better to just airbnb it as well and then the garden unit will just remain as a long term rental.

For those that have gone through the process how long did it take for building inspections and licensing ?

Thanks for your help

Hi Lee

I wouldn't worry too much about the seepage especially if the inspector is just recommending tuckpointing. The inspector puts that in there to protect himself. They also need to find something wrong with the property. 

The building looks like a beautiful first deal to have under contract. The rents look good and if they are under market value(I am not familiar with Elgin) the vacant units should be easy to start your leases with the market rent you should be getting.

Windows - I wouldn't replace until you need to. 

Boiler - just get it serviced and you would be surprised how long they can last

I am with you, not very handy. I can paint a room if I wanted to but I generally find it best to outsource maintenance and repairs especially if you find the right contractors. If you are working with a good agent I am sure he/she would have contacts for you. 

Congrats on your first deal! Welcome to the club!

Looking forward to another great meetup John! Sounds like an interesting speaker. 

Hello BP

Each year my wife and I come to san diego as we are comic con vendors. This year was no different even though the show was canceled as my company already paid for the beach house we normally stay in. The house is 3 bedroom 2 bath with an attached garage apartment in which the owners live. The owners are an older couple and are interested in selling the property with contingency they can stay in the apartment for free. I told them it would be very difficult to find a buyer to agree to this especially at the $1.5M price tag.

I am trying to find some options to offer them to purchase the property through owner financing. She already said they would just want a small down payment around $50k and $6k/per month cash. The property is 1 block from the beach so the rental rates are pretty high($300+ per night airbnb) and probably $5k for a long term lease. I know her $6k goal would not happen in this case. 

My end goal would be to have it kind of as a time share for us and maybe 2 other people and then rent out for the rest of the year. 

Has anyone ever done something like this or have any suggestions on structuring some kind of deal with the owners?

Thank you for your input