All Forum Posts by: Michael Haas

Having your ducks in a row so you can buy quickly and cleanly, then working with investor-agents, lenders, and wholesalers is the best way I know of to find deals. As an agent we connect with a lot of "tire kicker" investors, so if you're a clear communicator, decisive, and ready to go and can demonstrate that to us we will bring you deals. Remember, deals are in high demand, so if you want Agents, Lenders, and Wholesalers to bring you deals you should be asking THEM what you can do to help their business, not asking for them to help you in your business. This is so counter to most of our interactions (where the buyers / client is focused on me me me) that I guarantee it will make an impression and you will be remembered.

Good luck, and if you're open to ADUs / DADUs / HouseHacks / Airbnbs / Multifamily / Subto / Wraps / Development Opportunities in the Seattle market send me a DM, I'll add you to our email list! Cheers,

@Ran Iarovich @Kaylee Loomer way to get started early! Compound interest is one of the most powerful forces in the world, and the longer you give it to work the more the results will impress you. Invest early and often and you'll do great!

Kaylee, CA is like WA, where a combination of having roomates and having additional units can work really well. Brush up on the code changes in your part of CA - If you find a property with a large main house + a second kitchen (ADU or MIL) that could be a lot of rental income on your first purchase.
2. Definitely talk to a local agent and lender about first time homebuyer programs - we recently helped a buyer HouseHack in Tacoma, WA for just $3,500 out of pocket. If you take advantage of the programs available and owner occupy the property you can get started for less than you think! 

3. If you're willing to sacrifice a bit to put yourself on a solid financial footing I would start with very large houses - 3,000sqft + and 6 bedrooms +. There's less competition for these properties, and with some creative remodeling you can create multiple comfortable, rentable spaces. Establishing a short term rental / airbnb in part of the home is another great way to maximize rental income.

Cheers and good luck! And seriously, message me anytime if you'd like to talk more about house-hacking, it's definitely changed my family's financial life and the lives of a ton of our clients for the better! If you have ok credit, ok W-2 income, and just a little bit of savings buying a house hack is a financial no-brainer IMO!

@Jess Haas

Join us for a Househacker and Investor Happy Hour, located at Compass Fremont! Whether you're a seasoned real estate investor or just interested in getting started, this event is for you. Dinner & Drinks (Beer, Wine, & non-alcoholic) are included in your $10 ticket, so come hungry and thirsty. Tickets will be available at the door as well.

RSVP Here: https://www.meetup.com/house-hack-seattle/events/295490801/

Here is what the evening will look like:

6:00-7:00 pm - network with other investors and aspiring investors. This is a great opportunity to meet like-minded individuals, make new connections, and share ideas.

7:00-7:30 pm - Listing to Susan Schmitt, Escrow Operations Manager at Ticor Title, as she shares how to use creative financing such as wraps, seller financing, and real estate contracts in today's high interest rate environment.

7:30-9:00 pm - More networking and drinks- this is your chance to ask the speakers & other attendees questions, exchange contact information, and continue building your network!

No experience is necessary, anyone who wants to learn is welcome. Whether you're a beginner or a pro, you'll find value in this event. Don't miss out on this opportunity to connect with other investors, learn from the experts, and enjoy catered food and drinks!

Join us for our monthly Investor & Happy Hour Meetup!

📅 Date: Monday, August 21

⏰ Time: 6:00 PM

📍 Location: Compass Fremont Office

We're thrilled to announce our upcoming event that's bound to inspire and foster valuable connections within the industry. Mark your calendars – Monday, August 21 at 6:00 PM – and gear up for an evening filled with excitement, growth, and lots of networking! 🤝

Dennis Nguyen, a local real estate investor and member of our team, will be sharing his story of how just ONE house hack completely transformed his life's trajectory! Don't miss this opportunity to hear insights from his personal journey and gain a deeper understanding of the househacking landscape.

Join us for an evening to discuss the future of real estate success and uncover how a single decision can have an effect on your life and financial independence! The HouseHack Seattle team is dedicated to assisting you in navigating the ever changing investment landscape and discovering tailored opportunities that align with your goals.

To RSVP see the link in the photo(via Meetup)! See you there! 🤗

Hey BP Fam - I thought many of you would be interested in our monthly Investor & HouseHacker's Happy Hour - here's the link to RSVP if you'd like to check it out:

https://www.meetup.com/house-hack-seattle/events/293738536/

Dinner & Drinks (Beer, Wine, & non-alcoholic) are included in your $25 ticket, so come hungry and thirsty if you can make it!

Cheers - [email protected] // (408) 439-7873

@Andrea Sinclair NR3 is single family zoning here in Seattle - the builds you're seeing are likely SFH + ADU + DADU builds, which is compatible with single family zoning in Seattle. Townhomes for the most part are not.

$250 - $300 / sqft is what the vertically integrated builders are paying - since you're going to be hiring contractors you should budget $300 - $350 /sqft , which would cover soft costs (like permits, plans, and/or entitlements) and hard construction costs. 

Happy to take a look at your site and let you know what I would build there in your shoes - want to DM me the address?

Cheers!

@Jack B. - yes, its confusing stuff. I'm not as up-to-date on the new rental regulations, and that's an intentional decision. We used to self manage our rentals, but given there's now not only state and county rules but every individual CITY has decided they want their own rental regulations its no longer worth trying to keep up with the regs. Your job as an investor is to find good opportunities, and I've found that once you get past 1-2 properties the burden of property management slows your ability to find those opportunities. We're at 13 properties now, and property management has been huge for us as we're infinitely scalable now.

I know I didn't answer your question haha, but still wanted to give my two cents from my experience. If you want a referral to a great property manager just shoot me a message, happy to share mine. Good luck! 

I highly recommend hiring a property manager - I have a great one, message me for a referral to her!

We used to self manage our rentals, but given there's now not only state and county rules but every individual CITY has decided they want their own rental regulations its no longer worth trying to keep up with the regs. Your job as an investor is to find good opportunities, and I've found that once you get past 1-2 properties the burden of property management slows your ability to find those opportunities. We're at 13 properties now, and property management has been huge for us as we're infinitely scalable now.

I know I didn't answer your question haha, but still wanted to give my two cents from my experience. Good luck!