All Forum Posts by: James Elden

Basically the reason is that I want to have my own privacy, I work a lot at home and am not sure I could handle sharing a space with someone I don't know. I've figured out I'm able to get by with only about 500 square feet of space so I don't think I would mind limiting myself to that, basically I work a lot at home but whenever I'm not working I go out and do other things but during the times I am at home and working I don't like distractions, etc.

Also I think this may open up the pool of potential tenants. For example a woman may not want to share a home with a man (and some men don't want to either) they don't know but if it's a situation where the house is split and everything is professionally handled I think some people would be more interested, basically it's a more appealing arrangement to a potential tenant from my perspective.

I'm looking at maybe trying a house hacking setup where I would buy a single family home and split it off but not in a permanent way, such as putting a door in a hallway to section off the front of the house from the back. In the areas where I'm looking, single family homes would cash flow much better, it seems, than a duplex so my thought is that after a year or two I could move out and rent the house as a single family home. For this reason I don't intend to make any changes that can't easily be undone and the back, where I would live wouldn't need to have a full kitchen. I would be making some modifications to the house though, such as putting a door int the hallway that can be closed to separate the units and maybe some other stuff that I haven't thought of yet so I'm wondering what generally is considered the threshold at which this would normally become not legal without permits, etc? I think that the laundry area would be shared between myself and the tenant. I figure this is probably kind of a gray area, so would appreciate any advice. Thanks

In my opinion you can either trade bitcoin or you can gamble with bitcoin, there is no investing in bitcoin. It is purely speculation driven. I also feel similarly about the stock market but to a lesser extent. Just because something works out for a profit doesn't make it an investment. I trade bitcoin so I'm not against it but one thing that bothers me is when people try to conflate it with real investing, like real estate investing, they are two different things.

It's highly volatile so my advice is to learn to trade if you want to get into crypto, if you invest at the wrong time you can lose a huge chunk right away. Honestly I think it is dubious that people consider crypto an investment but you can make a ton of money for sure but in my opinion it falls more under trading than investing.

Great thanks glad to hear that

My understanding is that it is essentially possible to get a new primary home loan every year if you buy a house, live in it for a year, then, once the year is up rent it out and buy another place, do the same thing over again and so on. I'm wondering if this would eventually raise any red flags with lenders or if they would even know the type of my other loans if I went with a new lending company each year? I am planning to move into and live in the house each time I buy a new primary residence so I'm not looking to skirt any rules, just wondering if this is something that would cause issues assuming I am staying with in the rules.

At low price points it makes sense and the point is generally moot as you can't usually get a loan for a $25k house. If you can get a $25k house and rent it out for $500 a month I think it makes sense, I'm looking into potentially doing something like this. I would never consider it for properties that are more expensive though.

It looks like the eviction moratorium will be allowed to expire in June in the states that are enforcing it. I'm wondering what others think the impact will be on home prices across the nation? I'm looking at buying currently in a state that does not have a moratorium but it's an area that has historically seen high appreciation as well as high depreciation during the last housing crash so I can't help but think this could have a national impact but it's hard for me to tell, I'm interested to hear what others think.

Tarpon Springs and areas near there may interest you, it has a bit of coast / beach there and is more suburban /spread out than the more urban parts of Tampa. I liked that area when I was visiting Tampa, I prefer the east coast of Florida but if I were looking to buy in the Tampa area that's probably one of the areas I would consider.

Ok thanks I can check with lenders, I'm telling them upfront that I'm only going to live there part time and rent it out part time right from the start, so from even the first month of owning it it will be able to be a short term rental as I'm going to make sure the loan type I get allows this (like a second home loan).