All Forum Posts by: Brian Erickson

@Tyler Gibson

Perfect, will do.

Need to find large value add multi-family for 1031 exchange (light to medium rehab ideally) primarily hunting in DFW, Orlando, Phoenix but open to deals in other states, MSA's.

Other markets/states under consideration are anything in PA, CO, ID, TX, OR, WA, AZ or the Carolina's.

Don't really want to go under $800 per month on unit averages, ideally $1000+.

Price range of $10-$50 million.

If anyone knows, or is a producing commercial broker in these markets, I would love to get in touch!

Thanks in advance BP!

@Mindy Jensen

We went with grey, but bedding we went all white for ease of bleaching if need be. No issues thus far.

We’re only a couple months into our first house hack and it has made such a big difference financially.

Point being, I don’t have a massive track record with towel longevity or issues but that was my two cents!

At 50% occupancy, we have essentially erased our mortgage on a 500k property, and this is a simple house hack of our primary residence. We live up top and rent the 2-1 MIL below.

We have a unique spot close to a major international airport (SeaTac). So we are neither a vacation destination nor in the midst of a massive urban area.

And this was only our first month. Establishing credibility and gaining reviews to substantiate it is half the battle.

I’d say know your market and what clientele you’re trying to serve and go for it. Legalities obviously need to be known as well, but if you’re running numbers on a prop I would do so as if you were going to place LTR in there.

@Dennis M. Yo let’s partner up. Hahaha.

@Cory B.

I’m about to start shopping for them as well so I’ll keep you posted. BECU is my first stop since I bank with them and then Seattle CU since they’re close by where I work. Let me know what you find!

@Cory Bagley

I would second the hold opinion. We're geographically constrained here in the NW and Seattle has a thriving and diverse job market. Unless there is something structurally wrong you're not divulging then I'd keep your super low interest rate/cashflow and pull out a HELOC to play with for investments.

Timing an earthquake is like timing the market, impossible to do. I’d look into EQ insurance before offloading a property in such an expensive market.

We purchased our first ‘house-hack' less than a year ago and we are looking to utilize a HELOC to have on hand for further investments.

Do banks typically just look at the difference between purchase price and what you owe to calculate the equity?

We bought a poorly advertised property that we believe is worth more than we bought it for (not basing that just off zestimates, estimates etc even though they would agree).

Is an appraisal ordered by the bank? (We have done some remodeling to about half the house).

Or do they just google it essentially and call it a day?

HELP!

@Ralph Ramos

I'd opt for buying a multi-family. Live in one unit and AirBnB the other unit. You can always put a long term tenant in the unit if you don't enjoy the STR business. Unless your city has strict regulations it's a no brainer for us. You can harness significantly more rent running a STR over a long term tenant.

@Ralph Ramos

I'd opt for buying a multi-family. Live in one unit and AirBnB the other unit. You can always put a long term tenant in the unit if you don't enjoy the STR business. Unless your city has strict regulations it's a no brainer for us. You can harness significantly more rent running a STR over a long term tenant.