All Forum Posts by: Jason Stewart

Good experiences and bad please share feedback on hard money lenders you have used to acquire single-fam rehab properties in Austin area. Specifically, I am looking to purchase a SFH with major repairs/upgrades needed (using the BRRRR strategy) rehab and then refi to conventional loan. What type of rates have you seen? What should one look out for? What does the structure of a "good" loan look like? This will be my first experience this type of transaction so I prefer to learn from others' experiences instead of making my own mistakes.

Thank you!

Will I need to write up a roommate agreement to rent my rooms out? My agent said I don't need to worry about the 12 month rule If they are roommates i'm renting to. Couldn't find any information online about this stuff.

Thanks

Hello Biggerpockets, 

I just purchased my first single family home in Vancouver, WA. Its got 4 rooms and 2.5 bath. I am looking to house hack and need some help determining what needs to be done in terms of writing a lease correctly. I have a standard format one but it is not WA specific (got it for free after buying a Biggerpockets Audiobook).

I was told that you cannot rent until you've lived in the home for up to 12 months. However my agent said roommates are okay? Also I will be listing it as my primary residence and so will my girlfriend. I however deploy overseas for 330 days out of the year. Does this still apply to me? 

If I do need a separate roommate agreement, do you treat roommate just like you would tenants? whats the purpose / difference between "roommate" and tenant? 

Thank you for your time!

-Jason

Hi all, first post here on the forums, I've listened to and read a few books on real estate investing, and the one thing that interested me most was House Hacking, it makes a lot of sense for me and my partner. 

I deploy overseas 300 days out of the year so I only have a few months home. My girlfriend and I however are ready to purchase, shes agreed to take care of the land lording side of things.

I am here to ask what sort of strategies we can use to make sure we will get a good deal on a home and perhaps help out some people with similar situations with this posting. 

I see our first house as being firstly for an investment and secondly as a permanent residence. If there is any tips or resources you can give on making sure we can be cash flow positive, finding and dealing with tenants, townhomes vs duplexes vs multifamily homes, securing more profit when its time to sell etc. That would be really helpful.

Right now we are looking at the 270-300k range, I have excellent credit and can afford a down payment up to 50k. I also plan on purchasing another more permanent home with my VA benefit in 2 years time so this first house will likely be converted to purely a rental unit so I want to make sure it will be good for that outcome.

Thanks a ton for your time !

-Jason