All Forum Posts by: Kelvin Yuchen

Hi everyone! Thanks for tuning in, I have a huge investment decision and I would love your advice for my first home. Currently, I found an off market opportunity to buy a home in Bellevue WA with no agent commission since I am an agent myself. It is in an area where new construction homes are selling for anywhere from 2.5 million+ on 9K+ lot sizes or around $600 a SQ ft. Currently I live at my moms basement and plan to put 20% down and move into it as a primary residence. Its a mother in law layout where downstairs tenants are paying $1700 a month (I've seen places rent for 2K+) at 900 SQ FT 2 bed 1 bath. Do you think it would be a good decision for me to buy and live as a primary while renting out the mother in law? Mortgage would be almost 4K and I only make 100K a year which would be almost all I make under the worst case scenario where I cant find anyone to rent out. Also my plan is for my GF to move in and pay around 1.1K and I'll pay the remainder around 1-1.4K with the option to rent out the remaining bedroom in the upstairs for another 1K.

PP: $1M

Mortgage: 4k

4 Beds 2.75 baths 1900 SQ FT 

Lot size 8.3K SQ FT

Tenants paying 1.7K currently downstairs. 

Thank you for your time.

Hi all! Looking for some advice here.

I currently am working 2 jobs with 1 FT position bring in 80k as well as a PT agent in WA. I'm currently in my moms basement but looking to move out in the next 6 months. Here are my options. 

1. Buying a property in Kirkland with 20% down while living in 1 room while renting 2/3 out to break even on the mortgage (3-3.3k) so 1k per room

2. Finding a fixer upper to live in and spend more money to renovate then sell back into the market. (I have 0 construction/ contracting experience) 

3. Investing in out of state properties (Texas / Atlanta / etc) 

What do you suspect is the best option? I am looking to make an extra 50K this year off real estate as well while maintaining my FT job. 

HI everybody! I am 24 years old and I have a FT job already working 40-50 hours per week in Seattle WA. I am contemplating getting my real estate license to work as an Associate Agent at Redfin. I am considering doing this because I wont have to pay costs to hang my license, provides me a flexible schedule, I get paid per showing and I would get a 1099. I have a lot of free time on the weekends and real estate is something I want to learn to get into. For someone who wants to learn about real estate, create passive income, invest in properties, do you think this is a good route for an individual like me? 

I am a pretty extroverted individual who enjoys meeting new people and wants to start a side hustle. 

Hi everyone! I am a 24 years old living back at home in my parents basement saving up money. Right now i have an available $60-70k cash to put down on an investment property. My parents would help cover another 10% so i don't get a PMI. However, i also know i can apply and only put down 3.5% per FHFA. I plan on moving out within a year to somewhere in Seattle where prices are around $600-700K for a single family / townhome while working in the Seattle area. My plan is to rent out spare bedrooms from the townhome/ single family creating a total of 2K of cash flow minimum so i would need to cover the remaining 1K per month. Given my situation, is it worth it for me to get into the Seattle market? Would you advise buying a home that is in need or repair / fix up or go for a townhome as a beginner home?

What advise would you give me on the tax side or things if i did go with a townhome? What would i be eligible in write offs?