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All Forum Posts by: Kaydn Jensen

Kaydn Jensen has started 16 posts and replied 46 times.

Post: Second Home - Occupy Upstairs

Kaydn JensenPosted
  • Orem, UT
  • Posts 51
  • Votes 33

Hey @Petra S Jordan

As for the question of legality, I can tell you that in order to rent out out a mother in-law apartment or accessory apartment you are required to owner occupy the home. That leads me to think that if you are renting a level out to your business's LLC and renting out the other level to tenants you could run into an issue since technically you aren't living there. At the same time I think the likelihood that you will actually run into any trouble is very low. I know that there are multiple homes rented throughout Utah Valley that are zoned to have accessory apartments where both units are occupied by tenants. I don't think it's a bad option but you may want to consider running a worst case scenario analysis to see how it would effect you if you weren't able to use it for your business. Another thing to consider could be to purchase a multi unit commercial property and "business hack".

Post: Self Employed vs. Corporate World?

Kaydn JensenPosted
  • Orem, UT
  • Posts 51
  • Votes 33

Jaden, what's up man. I am in the same situation you are. I am about to graduate in accounting and recently got my real estate license over the summer. I quit my job and was working as a real estate agent over the past few months but recently went back to a W2 job because when you're self employed you have to show two years of self employment income to get a loan. That means you have to be creative when buying real estate especially rental real estate. I plan to build up a portfolio over the next few years as I work and gain more general business experience. Then once I have a track record of successful investments and have a better understanding of how to run a company I plan to jump ship and start my own company where I will scale quickly. I think that either route you go you will end up in the same spot if you have clear goals and chip away at them everyday. 

Post: Self Employed vs. Corporate World?

Kaydn JensenPosted
  • Orem, UT
  • Posts 51
  • Votes 33

Jaden what's up man. I actually am currently in the exact same situation. I am about to graduate in accounting and got my real estate license over the summer. I've had the same thought process as you and actually quit my accounting job and worked as an agent for the past few months. Something to keep in mind is that if you want to get a loan to buy an investment property, you have to show two full years of self-employment income to a bank in order for them to lend you any money. That can be a problem if you're just starting out. For that reason I actually decided to take a more corporate route for the next few years and I plan to build up a portfolio on the side. Then after I get some more general business experience and establish a track record of successful real estate investments I plan to jump into the self employment world and start scaling up. 

There's lots of way around the issue with getting loans so you can definitely go either route but for me it makes sense to take go this route. I think either way you go you'll end up in the same place if you just have a goal in mind and work towards it a little bit everyday. 

Post: Determining Pricing on Duplexes

Kaydn JensenPosted
  • Orem, UT
  • Posts 51
  • Votes 33

@Daniel Howard

Hey Daniel, I looked for a house hack duplex for 8 months and made over 10 offers before I finally got one. What I settled on buying, however, was a single family home with a mother in-law accessory apartment in Utah Valley. Local rules state that to rent out both levels at least one has to be owner occupied. I plan on being here for awhile so that wasn't an issue for me but that's something to be aware of. My wife and I are now living entirely rent free (the rent from our tenants covers PITI). To make that happen we chose to live in the mother in-law portion of the home and we did a lot of work in our apartment because it needed some renovations when we bought it. It's possible to house hack and live rent free but you might have to adjust your expectations and get creative.

Good luck man

I have my real estate license so if you ever need advice on comps or anything like that reach out! 

Hey BP,

[Disclaimer to the question I am about to ask is that I understand that at the end of the podcast they ask a similar question, however, the answer(s) I am searching for are slightly different]

I have one simple question.

What skills do you consider to be RARE and VALUABLE within the world of real estate investment?

An example of what I am looking for is something that can be developed through consistent deliberate practice. In other words, not so much a mindset like what is often mentioned on the podcast, rather a set of specific skills.

I know the answer depends on the niche within real estate investment that one pursues. I hope to be involved in large buy and hold real estate investments/developments because I see great advantage in the economies of scale that can be achieved. That is my broad idea of what I hope to do for now. I appreciate any of you who can help me identify some skills to begin developing now so that I can one day be as successful as a lot of you are! 

Hey BP,

[Disclaimer to the question I am about to ask is that I understand that at the end of the podcast they ask a similar question, however, the answer(s) I am searching for are slightly different]

I have one simple question.

What skills do you consider to be RARE and VALUABLE within the world of real estate investment?

An example of what I am looking for is something that can be developed through consistent deliberate practice. In other words, not so much a mindset like what is often mentioned on the podcast, rather a set of specific skills.

I know the answer depends on the niche within real estate investment that one pursues. I hope to be involved in large buy and hold real estate investments/developments because I see great advantage in the economies of scale that can be achieved. That is my broad idea of what I hope to do for now. I appreciate any of you who can help me identify some skills to begin developing now so that I can one day be as successful as a lot of you are! 

Hey BP,

[Disclaimer to the question I am about to ask is that I understand that at the end of the podcast they ask a similar question, however, the answer(s) I am searching for are slightly different]

I have one simple question.

What skills do you consider to be RARE and VALUABLE within the world of real estate investment?

An example of what I am looking for is something that can be developed through consistent deliberate practice. In other words, not so much a mindset like what is often mentioned on the podcast, rather a set of specific skills.

I know the answer depends on the niche within real estate investment that one pursues. I hope to be involved in large buy and hold real estate investments/developments because I see great advantage in the economies of scale that can be achieved. That is my broad idea of what I hope to do for now. I appreciate any of you who can help me identify some skills to begin developing now so that I can one day be as successful as a lot of you are! 

Hey BP,

[Disclaimer to the question I am about to ask is that I understand that at the end of the podcast they ask a similar question, however, the answer(s) I am searching for are slightly different]

I have one simple question.

What skills do you consider to be RARE and VALUABLE within the world of real estate investment?

An example of what I am looking for is something that can be developed through consistent deliberate practice. In other words, not so much a mindset like what is often mentioned on the podcast, rather a set of specific skills.

I know the answer depends on the niche within real estate investment that one pursues. I hope to be involved in large buy and hold real estate investments/developments because I see great advantage in the economies of scale that can be achieved. That is my broad idea of what I hope to do for now. I appreciate any of you who can help me identify some skills to begin developing now so that I can one day be as successful as a lot of you are! 

Hey BP, 

[Disclaimer to the question I am about to ask is that I understand that at the end of the podcast they ask a similar question, however, the answer(s) I am searching for are slightly different]

I have one simple question. 

What skills do you consider to be RARE and VALUABLE within the world of real estate investment? 

An example of what I am looking for is something that can be developed through consistent deliberate practice. In other words, not so much a mindset like what is often mentioned on the podcast, rather a set of specific skills. 

I know the answer depends on the niche within real estate investment that one pursues. I hope to be involved in large buy and hold real estate investments/developments because I see great advantage in the economies of scale that can be achieved. That is my broad idea of what I hope to do for now. I appreciate any of you who can help me identify some things to begin developing now so that I can one day be as successful as a lot of you are!  

Hey BP, I’d like to pose a question that I’ve been asking myself for awhile now. My simple question is this. What 3 skills can I (or anyone) start to develop now that will be vital to real estate investing in the future. I know that real estate investing is changing and will continue to change and I know a lot of you have the foresight to predict the skills that will be needed as it develops. I also know real estate investing is incredibly broad. As of now my goals are to own and operate a large multi family acquisitions and development company. I appreciate the responses and insights you have!