All Forum Posts by: Martin Vehlow

Welcome to BP, Justin, you're in the right place!! Have you considered house hacking your first property?

Hey Lucas,

If it's specified as such in the lease, then yes you would need to wait until the leases are up to change this, unless you got the tenants to agree to some sort of addendum changing this but I think that is pretty unlikely. An attorney might know of another option though.

Awesome, how exciting! #goals

Are you comfortable taking the risk? If it needed to be rebuilt in the future, you'd either need to secure a variance or make the property narrower so as to abide by the requirements. Up to you how much of a risk you want to take.

Gotcha, hopefully you get a decent offer soon! Wish you all the best!

@Isabella White, gotcha, I've been there and nothing wrong with that! Props to you for multi-tasking lol!

Agreed, reddit is great too!

Interesting, perhaps lower your asking price or include a home warranty? What feedback have you gotten from the showings?

No association here and not a recommendation, but perhaps this might be something to explore? 

https://www.quickenloans.com/blog/delayed-financing-uncommon-refinance-option-cash-buyers

Hi @Will King,

You could include the water & electricity in the rent and just pay them yourself (obviously the rent rate would be a bit higher in this case since they are included), or you could do bill-backs to the tenants for the cost of the utilties every month, or you could submeter the utilities so the tenants pay them directly. Each approach has pros/cons and different costs involved, though the first option probably has the lowest cost to you.

Hi @Stacy Brooks,

What are you asking for the house? 

Can you rent it out instead, then do a cash out refinance once you've owned it for 6 months?

@Isabella White, are you using the BP app? I've had best results using BP on my laptop, or using Chrome on my phone. I haven't had good luck with the BP app myself.

One trick I've found, which seems to work well for searching BP, is just going to Google and typing in Biggerpockets then whatever search term you want to read about. For example, "Biggerpockets househacking". It typically is easier to search that way than the built-in function up above, at least for me.