All Forum Posts by: Chace Fraser

Hi @John Jacobus I think @Caleb Webster is on the right track. There is a company out there called Dweller that will put a prefabricated ADU on your property and will cover a large majority, if not all, of the costs. It's something to look into as well. Additionally, we are a realty company and property management company so if you would ever like to chat just send me a message!

Hey @Derek Petersen I'd be happy to help. Sending you a PM now.

Hi @Feroz Mohummed I second what @Caleb Webster is saying. Vancouver is a very strong market as well. Another thing to consider is the cost of housing is less in Vancouver so you can get more for your money. Additionally, if you purchase a property in Oregon, you'll have to pay Oregon income tax (nearly 10 percent) where Washington doesn't have an income tax...

Hi @Eric Lopez sounds like you're on the right track! Keep us updated and let us know how goes!

Hi @Danielle Yellam . @Erich Bubbel is an amazing agent in the greater Seattle area and is also house hacking a triplex in Everett. I'm sure he'd be happy to meet you for a cup of coffee and chat!

Hi @Karim E. . House hacking is technically possible in ANY market. The question becomes how much can you save (or make) by house hacking. If you are using a low down payment, it's not really realistic to expect to be cash flow positive. When an investor is looking at being cash flow positive, they are typically putting down 25 percent or more. If you are in a high demand metro area, it's simply not realistic to expect to be cash flow positive if you are putting down 0-10%.

Now if that is all the capital you have, that is what it is....is it better to keep renting than to buy? Typically it is better to buy. Better to build your own equity through the debt pay down, enjoy the tax benefits of ownership, and garner the equity of an appreciating asset. You just can't expect to cash flow on an initial purchase with a low down payment. Now with time and rent growth, what could be a negative cash flow property might very well become a cash flow king, but that takes patience. Also, keep in mind that in my opinion, you would still be winning if your monthly housing costs went from $1,400 to $900.

Another way to increase cash flow would be renting out rooms in the unit you live in, either Airbnb or longer term.

Hi @Eric Escanuelas and welcome! BiggerPockets is a great place to find like-minded people who are all at different stages of their real estate investment journey. The Portland/Vancouver area has a lot of active BP members and there are a lot of opportunities to meet people. The first place I would recommend looking is right here on BP at the events page. Another good location is MeetUp.com and just searching for real estate investing. Maybe we’ll run into one another at an event.

As far as good places to buy investments in the metro area, we've found that the outlying areas have the best potential for both cashflow and appreciation... and affordability for that matter. Also, it is very difficult to find a rental that satisfies the 1 percent rule in the area so, if that is one of your guidelines, you will definitely need to find a smoking deal or look a little farther out.

If you’d like to meet up sometime send me a message!

Hi @Ryan McLean . Portland is an awesome and friendly place! @Mathew Wray is very active on BP and always provides sound advice and quick responses! (Maybe I should meet up with him as well... @Mathew Wray coffee sometime?). I think you will also find a good amount of active BP members in the Portland/Vancouver area and there are usually a few events per month here (which you can find  here). 

As a Realtor, my specialty is house hacking and I would be happy to sit down and chat with you when you get into town. 

When do you arrive?

Hi @Gabriela Johnson and welcome! The Portland/Vancouver area has a lot of active BP members and there are a lot of opportunities to meet people. The first place I would recommend looking is right here on BP at the events page

Another good location is MeetUp.com and just searching for real estate investing. Maybe we’ll run into one another at an event! Or if you’d like to meet up sometime send me a message!

Hi @Surendra Chawla  I work as a broker for Latitude Realty and Property Management. If you haven’t already found a Property Manager we’d be happy to see if we’d be a fit. Send me a PM with a little more info and I can link you up with our management company.