All Forum Posts by: Frances Cue

Hello! 

I have an opportunity to work with a couple of private lenders. I've never done this before and wondering how do you structure deals with private money? I am interested in getting a duplex and BRRRRing. When do the private lenders get paid back or what's a good time frame? How do I pay them back? and how much interest should I expect from them to ask? Also, if there's any resource/materials/books out there you can recommend,  that would be great. Would love to learn more before I make a pitch of any kind to the private money lenders.

Thanks!

- Frances

Hello all! I am in need of CPA  to help us do our taxes for 2024. We are closing on triplex this week and would need help with Tax strategies going forward. We are house hacking and know that there are advantages and disadvantages of this strategy and we would certainly need some advice to help us keep in track with our goals. Thanks for your future recommendation. (More info, we have properties in NJ and Ohio as well, it would help if this CPA can help us out with those too )

Thank you,

Frances

Thank you Randall Alan, Benjamin Aaker, Vitaliy Volpov, and Michael Smythe. I am grateful for you taking the time to give me honest feedback. I feel a little bit better now haha. I think I just needed to hear from other people's experiences since we are so new. Moving on, I think we are going to be brave and manage the property ourselves. Thank you thank you! 

Hi folks, 

We are under contract and hoping to house hack a multifamily. Currently there are two tenants in placed. I'm considering not hiring a property manager since we will be living on one of the units but I'm afraid that if the tenants find out we are the owners (and we are also brand new to the city, still reading up on landlord/tenant laws for MO), that they might be able to take advantage of us. We are new to all of this and I really would appreciate any feedback or input. Do you think for newbies like us, it is safer to hire a property manager or just learn it ourselves? I am leaning more towards learning the ropes ourselves but I am also very afraid and anxious. 

Thanks!

Hi Ben! Thanks for replying and appreciate your insight. We were thinking of putting 5% down. The house is worth 445 and with current tenants' rent worth 3100. We can put up to a 10% if needed. I'm hoping it all works out. And yes, short term discomfort for long term glory will be our daily mantra for 1 year haha. Thank you.

Hello BP members. We are currently trying to purchase our first quadruplex. We will house hack and live in one of the units. We are from out of state, and have two young children (one school aged, one toddler). I want to know of your experience house hacking in a quadruplex. It's a big move for us and very nervous because this is our first time house hacking, and it's out of state, away from our immediate families. Also very anxious because the place will be smaller than what we are used to, but we are willing to sacrifice one year in order to fulfill our long term goal of owning a multifamily unit. Any advice as to how you handled your househack, problems encountered, solutions, what to watch out for in general,  and just looking for other people's stories would help. Thank you.