All Forum Posts by: Account Closed

Hard to assess without more info (price, anticipated expenses, etc). Not wanting to discourage you from moving on this, but have you thought through what might happen if we are at a point where we are seeing silly MF numbers. Also, why are sellers selling- if it's a good property, why would they want to unload?

Not to bring in a perennial topic on BP, but I do think that neither MF or SFR approaches are superior to one another - they both have significant advantages and disadvantages.

I'm already uneasy by anything that puts Snap and Flip together in a name. Just as I wouldn't trust 'Easy Flip'.

These trainings I've always found to be bogus. Everything you need regarding knowledge and training is available online and it's so easy to make relationships with people - neither of these can cost a dime

Its relative and depends on what is best for you. I'm a huge fan of being a renter while being a rental property owner:  it helps me maintain the perspective of a tenant (I stay plugged into tenant laws on an experiential level), it's cheaper (especially if you're in a higher end home), and you're off the hook for liabilities with the home. Its awesome!

But...renting can be a HUGE pain if you're moving all the time. My wife and I were reminded of this when we moved recently  (this is magnified exponentially with kids in the picture - "How did we accumulate so much stuff?"). The cost of moving is something that can be easily forgotten and when considered as part of the equation (since renting is touted as the cheaper option) it can really make buying a better option.

What's best for you and your future? Maybe a primary residence that you buy can be the basis of investment funds via a HELOC. Also, do you plan on being there for a long time? I would only buy if I lived somewhere for at least five years.

One another point: I'm also someone who lives in a very high cost area (Arlington VA, just outside DC). One of the several reasons I acquired a real estate sales license was so that I could be my own buyers agent and keep my commission in the transaction as equity (which for a normal house here can be around $15-20k from a ~3% commission). Maybe you could pick up a license in California if buying becomes an option?

Just coming across this thread.

What happens if the increase is over the normal increase Of ~3%?  I've noticed on GoSection8.com that rents for 3 or 4 bedroom homes are lower than the posted market rates on housing authority websites. Are you guys saying to find and place a tenant and then a year later up the rent to the posted market level?  I can see that being a big jump in some situations. Thanks!

Thanks for this post Joshua. I think pursuing REI goals and being on board with a spouse is something that a lot of us have to think through here. Its good that you're asking this. Gaining clarity - would you still be house hacking and have a property manager?

This is just my take, but there shouldn't be a 'but' after a thought of your wife being in danger in a neighborhood. I think she has a legitimate concern (if I understand the scenario correctly).

I definitely see the value in house hacking in general, but I question whether the overall value is worth it considering the stress and difficulty it could put your wife (and, indirectly, you) through. Not sure what type of multifamily this is, but in general you're living next to much different people in these sorts of buildings - different than say conventional SFRs. That could not desirable in a rough neighborhood (even if it's up and coming). Think about what it might be like for her as a mother:  will the baby have health problems from the dust created by your neighbors smoking outside of their window, or from dust from renovation work, or mold in the house that you're having to treat?  Will the baby sleep if there are neighbors fighting next door (or above...or below)? What if she's having to go up and down stairs all the time with a baby in her arms (I did this and it's not fun).

I'm not at all trying to deflate a viable dream toward successful investing, but when it comes to marital success and real estate success I would encourage you to think how those two things can be done together instead of how you can bring your wife on board with your goals. What are her goals and dreams? How can hers intersect with yours?

I know this is said often, but it's very true:  happy wife, happy life. What good would investing in a MF property be if your wife will be miserable? 

Maybe there are other paths you could both be taking together in this? The beauty of real estate is that there are many diverse ways to seize opportunity and build wealth.

Here in Northern Virginia, I've had personal experience with our water provider and sewage company making mistakes with billing. Things that triggered my inquiry were 1.) I would be gone extensively (for a month) and still accrue large bills for the time I was away, and 2.) I would occasionally receive bills for the exact amount of the prior month (ie, 44.32 for June and 44.32 for July). There were times where they admitted fault and provided a refund based on their correction. I would ask then for justification for the expense and share your experience. 

Great Anthony - thanks for your thoughts.

Meanwhile, this classic scene from The Goonies articulates my point.

My post wasn't in response to following messages. It was in response to her initial self righteous imposition upon the language other people use. It's pushy bossiness and doesn't belong on this blog which is more about pursuing wealth and freedom via real estate. Let's keep the focus to what it should be - alright guys?

Thank you - I would actually be my own buyers agent

Dani - clearly you are asserting your cultural superiority from your uber- politically correct moral high ground in Portlandia. Elsewhere in the country (ie, New England and elsewhere along the east coast) 'guys' is perfectly acceptable. For example, if my mom and grandma were in a room with me, it would be no problem for me to say "Hey, you guys want to grab some lunch?"  There's no gender-obsessed scrutiny about it. Maybe us guys just don't know proper protocol, or maybe you're just too interested in bossing others to accept your standard of cultural norms.

Maybe you should be less focused on picking apart other people for how they employ one term in language which can be gender ambiguous and more focused with the value you're contributing to other people's lives (like other men and women...'guys' on this blog).