All Forum Posts by: Julian Hutch

Thanks for the insight. I was thinking that I was going to basically take out the wall and reconfigure the kitchen without having to move the plumbing much. Not sure which way I should have the sink and kitchen facing. The good part is the space is pretty sizable to work with. 

Help is needed. This is my 2nd duplex rental I have gotten in the outskirts of Seattle. I expect to be able to get rents in the 1700-2100 range for this 3bd 1.5 bath. The top floor unit has a bit of a funky layout and the huge fireplace seems to be structural. I m looking for ways to modern the floorplan without overdoing it as I intend for this duplex to be a long term rental for our family. 

Team looking for some advice. I live in the Seattle,WA area, great for appreciation but home prices in the 300s are considered cheap. I have a primary home and a duplex rental in the area and am looking to expand. I recently refinanced to free up my VA loan, so I can get into a property with very little out of pocket. I have been looking for up to a 4 unit but with 0 down I'm running into a hard time finding a cash flowing property.Typical cap in the area is about 5%. I don't want to get into something that has negative cash flow and the only hope is appreciation. I have agents that invest and some decent contractor contacts (even considered getting land and spec build with Adair house a duplex) but again am running into the prospects of negative cash flow and speculating. This has me exploring the option of doing a slow flip and getting another SFH and slow flipping with the VA loan year after year. For the record my goal is to flip 1-2 properties a year and get a Long term rental every 2 years or so to build out my portfolio. Any advice on house hacking in an expensive market and what properties they target to get the best return?? Looking forward to the discussion

About 2 months ago I purchased my 1st rental property, a duplex. For financing I had to put down 25% over 80k. This has left me fairly cash poor. My question at this point is two fold. With a strategy to build a rental property portfolio (a mix of 1-3 year buy and holds and longer term rentals) to transition full time to a real estate career what should be my next steps. Do I go the route of a hard money loan? If I go the route of hard money how easy is it to refinance out and get conventional financing? My wife and I currently work would it still work using hard money and refinancing in a couple years with no W2 income? How are you guys getting around having more than 4 mortgages at a time? Should I open an LLC and use a business line of credit /s this even a viable option? Is it best to continue saving up and using the cash flow from the rentals to put down another 20 every time? I ask these questions because I need to educate myself on these options so I can build a good plan going forward. Thanks for the input in advance!!

Thanks for the input! Brett that is Biggerpockets software :):)

Scott

That's if I leave it at the current rent of 1200 and still put 20k in. If I were to rent it at market rate of 1500-1600 my cash on cash is a little over 9%. Also exiting with 80k profit after 40 isnt a bad thing 

I m in the process of closing on my 1st duplex!! I m looking to get some feedback and see where my potential shortfalls could be. Currently both units are on a month to month and are renting out for 1200 apiece. Even with me assuming 20k to fix some things I was being conservative with keeping the rent at 1200 at least for the 1st 6months or so. Rentometer says average rent for 3 bedroom is 1621. I will be handing the property management so no fees there. Again please ask questions and point out any underestimations and tips. I.E with the kitchen cabinets could I just get new counter tops and cabinet doors without all new cabinets? Is Allure Vinyl the best flooring choice? What small upgrades are the biggest return on rental units.

Mr. Marroquin

I d be interested PM me with any details

trey is this still available? Send details to [email protected]

Is this property still available?