All Forum Posts by: Liam Naughton

Calling all STR investors! I've got a deep discount on a truly passive STR.

I've got a lead on a deal that can be purchased almost $100k under list price given the circumstances. (Purchase price somewhere in the $600k range)

The property should bring in around $45-$55k/yr running as an STR and there's already a manager at the building if you want to be completely hands off.

Add me and send me a DM if you're interested in submitting an offer on something like this. I can share more details over email.

Thanks everyone!

Hey Alexander,

I've worked with Yen Design for architects before and had a great experience.

I might have some of those other resources through my network. Shoot me a DM if you want to connect and share. :)

Hey Brad,

One of the ways I've done it in the past is to go to the MLS, find recently sold flips and reach out to the agents/LLC's to see if they're actively looking for more projects. Keep the agents list and the investor lists separate and you should have another good out for your deals.

I've also worked with builders in the past, sometimes some of the smaller builders will flip houses as well if they can slot and ADU somewhere on the lot.

Best of luck!

I'm looking to add more units to my portfolio and more connections in my network.

Leave a comment if you're interested in multifamily investing in Seattle, King or Snohomish County. 
I'd love to meet up to chat strategies, wholesale deals, financing, and more.

Thanks!

As long as you're financing it as an investment property you should be able to.

You might have a hard time getting a lender to fund if you don't have rental rates/estimates to provide to the lender. If you have enough market data to support your income projections you should be good to go.

Lenders don't like Airbnb's much though so maybe you can pitch it to them as a rental?

Reality is just a mirror of our internal state of being.

The more we invest in ourselves, the more we invest in our lives. :)

Hi Jindou,

From a loan perspective, 2-4 units are a bit more favorable if you can take them down with an owner-occupied FHA, conventional, or VA loan. The rate will be about a point cheaper than any investment alternatives.

From a cashflow perspective, more units equals more money. It can also mean more cap ex. You now have to deal with 10-30 water heaters instead of 2-4.

From a deal perspective, you're more likely to hit your goal by starting out with the bigger unit counts. There are more opportunities for seller-financed deals in the larger unit counts because many of those owners/operators acquired the property that way themselves. If you can structure the terms in your favor while getting the price in the sellers favor you stand a good chance of getting to your goal.

Good luck and don't give up!

Hi Michael and welcome!

If you're comfortable letting your cash sit in the property then you're just looking for something you can purchase in an area with decently high rents. You'd still get the tax benefits from owning the rental except for the interest payments you'd be making on a loan.

If you want to start with buying a property outright then scale you could look into a HELOC to use the equity you have in the first house to buy the second. The rate on something like this would be a bit higher than a conventional 30 year mortgage but you'd have the benefit of potentially paying it off faster.

Investors using a conventional loan have to put a minimum of 25% down on a property. I'd recommend working with a lender to see what the best balance is for you. You're probably going to want to put a higher amount down on a property that doesn't need work so that the rents cover the entire mortgage payment and then some. You can either keep the extra cash flow piled away for any future expenses or prepay the loan so you jump ahead in your amortization schedule.

Hope that helps and good luck growing your portfolio!

Hi Firuza and welcome!

Hi Jason and welcome!