All Forum Posts by: Michael Haas

We have 2 STR's inside the city of Seattle, and another 5 units outside the city. Although I do like STR investing in general, I've found that LTR in Seattle are so high that you don't get a that big a boost from going with a short term rental, after you factor in the extra costs around utilities, furnishing, etc. We're keeping our 2 Seattle STR's and they perform well, but that ratio between extra rental income and extra expense and hassle is just something to keep in mind if you're deciding between STR and LTR here in Seattle.

Hey @Charlton Ho- in addition to the ones already mentioned, our HouseHack Seattle Meetup is a great place to to meet other HouseHack, STR, BRRRR, and DADU investors. We host that monthly, with free food and drinks provided - I'll DM you a link. For the ladies in your life the InvestHER meetup is another amazing one, geared towards supporting female investors.

I'll second the "low tech" approach - we usually don't use projectors or tv's in our cabin rentals, but I think if I were to have one I would go with a tv. I have a projector at home and anytime the grandparents, friends, etc come over I have to explain how to use it. Its just less common, which for Airbnb / Short Term Rentals is something you should avoid. 

@Tyler Ridings exciting stuff with the job change and embarking as a new investor. As @Matthew Kwan mentioned, the FHA self sufficiency test is a tough hurdle in our region, especially with today's higher interest rates. In and around Seattle Single family homes with accessory dwelling units tend to have the best HouseHack ROI, followed by large single family homes rented by the room and true duplexes. I'd love to dive a little deeper into the househacking strategy side when you're ready for it - just shoot me a DM if you'd like to chat more. Cheers!

@Samuel Jolicoeur I work as both a Realtor and a Wholesaler and in my opinion Wholesaling is harder, especially for someone who is new. The profit margins are thicker in wholesaling, so its still a great option, but for folks that are getting started I recommend working as a investor-focused real estate agent first. Good luck!

@Joshua Bruski-Hyland Welcome to BP and thanks for your service! It definitely helps to have a few purchases under your belt before becoming an agent - having bought houses before being and agent, and now with quite a bit of experience as an agent, I can say that its a lot harder than it looks. 

I used to live nearby in Tacoma, and am in South Seattle now. Reach out if I can ever help with anything, cheers!

Does Raleigh allow Detached ADUs?

Assuming they do, make sure the ROI pans out- usually in markets where you can buy a house for $200k it's cheaper and more profitable to buy another $200k house than it is to build a DADU.

Welcome @Mandy Boekenoogen - excited to work a deal together sometime soon ;)

Hey @Rebecca Rae - We do sub-to deals personally and for clients, mainly off-market through direct mail. I've thought about Pace's mentorship as well, but in the end decided against it as, like Jay mentioned, SubTo gets hairy quickly and tend to be time consuming and complicated deals to execute, so I'm not sure its something I want to double down on. I do know a couple of investors in the program (@David Nguyen & others) that might be able to speak to it a little more.

@Carlos Ptriawan - yes, I thought he was talking about $/sqft purchase price too for a second. Poster is looking for rehab budget / sqft though - a lot easier to estimate than $/sqft purchase price in a city as diverse as Seattle!