All Forum Posts by: Jacob Kelley

@Collin S.

Definitely - I'd imagine I wouldn't be able to manage both as Airbnb rentals on my own, so I'd have to run the numbers and see if there's enough additional cash flow to cover the cost of a property manager.

My partner and I are looking for properties with a casita to house hack currently. Our plan is to live in the property for a year while AirBnB'ing the casita. After a year, we'd like to move into another property, and rent out the property to a long term tenant.

What are our options when it comes to renting the property? Does a casita add much value to a typical rental? I imagine most tenants have no need for a separate guest house. We've considered separating the casita from the main house to continue AirBnB'ing, or even trying to find a tenant who will manage the AirBnB for a discount on their rent. We're just not sure whats our best option, or whats even feasible.

If anyone has any advice for this situation, I would greatly appreciate any input.

@Jason McVey South Carolina, Georgia, and Texas are my top picks right now. I'm focused on finding buy-and-hold properties, but I'm not necessarily opposed to an out-of-state flip. I'd like to start with a buy-and-hold, only because it would be an easier option to dip my feet into, since I'm going at it alone, before moving into flips.

@Brandon Sturgill Yessir, I've narrowed my markets down to Atlanta, Dallas-Ft Worth, or South Carolina. I'm looking for single family rental properties.

TL;DR: Does it make sense to give up free housing in order to house hack?

I'm currently in a unique situation. I'm living rent-free in a home that belongs to a friend out-of-state. He intends to move into the home sometime in the future, at which point I'd have to hop off of the metaphorical gravy train, but he doesn't have any timeframe for when he intends to move back. He's agreed to give me at least 3 months notice, so I'm not in any danger of being kicked out on the street. 

While I'm incredibly fortunate to be in this situation, it does mean that I would have to forgo my expense-less housing in order to house hack, which is the most feasible investment option for me.

So my question is this - does it make more sense to stay where I am & keep saving for as long as possible, or should I purchase a FHA financed property and eat the holding costs for a year until I can rent it out.

Thank you in advance to anyone who takes the time to give their 2 cents!

@Roland Osage

Hey Roland,

I can't speak to Tuscon, but Phoenix's market is just very saturated right now. That's not to say that there aren't deals here, but I feel like my money could go further in some other markets.

Regardless, I'd love to talk. Shoot me a message and we can set up a time for a call.

I've heard enough success stories to turn me on to out-of-state investing. I'm looking to connect with investors in Phoenix who have experience with long-distance investing. Please let me know if you'd be interested in grabbing a drink or getting lunch to talk about your experiences.

I look forward to meeting other investors in the area!

My girlfriend and I are planning on buying our first investment property - we're looking at four-plexes in Phoenix. Our real estate agent told us that, in her experience, hard money lenders in the PHX-Metro area typically require 20% down for first time buyers. With hard money, we were expecting putting much less down based on our research. I definitely appreciate a reality check, but I'm trying to confirm what we can reasonably expect so we can better plan for the future.

If anyone has experience using hard money in Phoenix, please share your experience, specifically what requirement the lender had for a down payment. Also, if anyone has any reccomendations for a HML, please let me know.

Thanks for your help!

Is anyone familiar with any portfolio lenders in the Phoenix Metropolitan area? A conventional loan won't work with my timetable and I'm looking for a faster lending option. If anyone has any other insights into other alternative financing options in the area, please let me know!