All Forum Posts by: Jeremy Blevins

Hey BP my wife and I recently sent out some direct mail letters to duplexes we were interested in. We did get some response and just finished looking at one in person yesterday that we would like to pursue. We have a buyer lined up to purchase our home and so the purchase of the duplex would be contingent on us selling our place. The seller of the duplex is aware of our situation and the contingencies.

This will be our first investment property and house hack and we want to make sure we don’t get taken advantage of by the seller. The seller is a licensed broker and will be selling the home himself. He also works for a company that he has mentioned could do the financing and he would offer us an incentive for going that route, if we want. He seems trustworthy and we don’t get any bad vibes from him but again we want to make sure we protect ourselves. Any advice on how to move forward? We thought about having our listing agent double check everything once we get into the paper work part of it all.

One last thing, will we need to provide a down payment on the duplex before we receive a down payment on our place?

Thank you all in advance for any advice and recommendations!

Hey guys we are looking for a contractor in the Folsom CA area. We will be renovating a duplex shortly and will need some help. Thanks for the replies!

@Derek Jones any thoughts on a house hack in the area? The numbers we’ve ran will work while we live there but when we move out our profit margin will be slim to none.

@Dave Passey Hey Dave I apologize I didn’t see the above post mentioning that insurance companies wouldn’t be covering fire damage from grow lights. That seems strange that they could somehow include that when, as mentioned by others, we have the threat of fires from so many other household products as well. That being said I think your right in excluding growers if it’s going to add potential risks. It’s just a bummer because that’s a large customer base. Imagine if you had to exclude all drinkers..

If your tenants aren’t smoking inside why stress about them growing a few plants? Especially if they are paying their rent on time.

I would 100% rent out the other rooms. If you want to follow all the rules work a 9-5 forever!

@Wes Blackwell thanks for the response. I guess I should have elaborated on our plan a bit. Once we sell our home, which might not be until spring now as its been sitting on the market, we plan on buying some out of state rentals and then renting in Folsom for a year or two until the market drops.

@Ethan Schneider I think regular exercise solves a world of problems and is extremely underrated. If you can get him to do that I think that it will create a domino affect for the rest of his life struggles.

@Tom Tamosamoa well we figure paying off all of our debts will put us in a position better to save and invest. But after closing and paying fees we should be close to 60-70k

Hey guys this is my first post here on the forum although I’ve been listening to BP for a while now! We’re located over in Ione CA and looking to relocate back down to Folsom CA where my wife is from. We bought our home a little over two years ago and owe about 323k on it. According to the realtor comps are about 420-30 and she thinks we should be able to get that. We plan on paying off all of our debt with the money earned and using the rest to invest in a multi family and possibly house hack. We also plan on renting initially so that we can take our time on finding a good deal and possibly wait for a dip in the market. I know this isn’t too specific but I wanted to see if anyone had any input or suggestions as we start our journey. Thanks in advance!