All Forum Posts by: Jana Crum

Hi @John Santiago it's awesome that you are getting a house hack as your first investment! As someone who has helped clients purchase house hacks, my advice would be to do thorough research on the duplexes & tri-plexes in the Minneapolis-St.Paul area and make sure that they are the type of property & area you would want to live in. Also if you get a mortgage based on the rental income of the property it will limit you to only properties that cash flow, which may be hard to come by in your market. I know that here in Phoenix, house hacking a duplex even downtown or Scottdale and cash flowing is starting to get very difficult. Overall, just make sure that you have a solid grasp of the market and grounded expectations. 

Hi @Jana Craig, congratulations on your first Airbnb property! I would also suggest getting a good insurance rep to make sure you get the best deal on renters insurance & short-term rental insurance. It may be beneficial to consult an interior designer to make sure that you create the right esthetic for your area, or just do solid research on your own. Hope that helps!

Congratulations on this great deal!

Hi @Russell Fleming welcome to the real estate industry in Phoenix! Are you looking to do flips or long-term rentals?

Hi @Tyler Vargha as long as you have lived in the property as your primary residence, even if you house hacked it, the sale of that property would be the sale of your primary residence. If you lived in the house hack for 2 of the last 5 years then you will not have to pay capital gains tax on the sale of the house hack. Hope that helps!

@Jessica Irwin What type of healthcare business did you have? I got my Masters in Healthcare Administration and worked in that field before switching to Real Estate! I am also in AZ and love to connect with you!

@Branden Mohler I'm also in AZ in and some of my uncles and cousins are Firefighters in Phoenix! I'd love to connect with you and learn more about your real estate goals!

I appreciate your input, looks like we differ on investing methodologies, but thanks for the info! 

Happy New Year BP! I am looking to begin my short-term rental business via Airbnb Arbitrage in the Phoenix/Scottsdale area. I am currently doing research on how to structure my LLC and setting up my systems, my goal is to acquire and launch 1-2 units this year. Those of you that have done Airbnb Arbitrage I'd love to hear about your experience, good & bad! Thanks in advance!

Hey, @Severino Cuison welcome to Phoenix! It might be better to put more down on two homes or save that cash for reserves/maintenance for two new rentals instead of purchasing 3 new rentals and stretching your DTI. I believe that in order to use the projected rental income to qualify for a mortgage, the property must have a rental history. I don't think you'd be able to do that with a newly built property. I hope this helps, feel free to message me if I can be of further assistance.

Awesome, I know a few local investors that are successfully house hacking their single-family home. It's a great plan. How can I be of assistance?