All Forum Posts by: Nathan Harden

If you're already going to get rammed with Capital Gains tax anyway, why only sell them off slowly? Sounds like you're at your wits end here so it may be like ripping off a band aid, just getting rid of all of them at once. The longer that you hold onto these in our area, the better chance that the city/state is going to pass another anti landlord law.

The longer that you hold onto these, the longer that you're not able to get into those index funds or other stocks. From just this small article, I think you just ride off into the sunset and go onto your next adventure. Leave the landlord burdens in the past.

I think that when we see rates drop down to about 5%, we see those sellers start to come out of the woodwork because even though that 3.5% interest they currently have looks great, a 5% interest on their dream home or next step up is a lot easier for them to swallow than a 7%. 

At least in our area, demand is so high, but inventory is so low. You said that Seattle prices dropped by 20%. I believe it! Our market is so dependent on rates because the purchase prices are so high. Not many working class families have the money to be able to shell out a $4k mortgage payment. Then let's not forget how expensive our taxes and insurance are becoming as well. 

To be honest, I have seen the market pick back up down here in the last couple of months. Part of me thinks because the "sticker shock" of higher interest is slowly dying down OR the fact that landlords are all nervous about the rent control rumors swirling around and quickly trying to play catch up and get their rents to/near market value. Every buyer that I have helped buy a home that is coming from a rental said the deciding factor that pushed them to buy was because their landlord jacked their rent up drastically. 

You are going to hear both sides of this argument and I had the same question when I was first starting. 

Simply put, I went with an LLC. I like it, it was cheap and when I get enough properties in this current LLC, I will make another one for another part of my portfolio. No regrets on my end at all but REI is not a one size fits all and what works for one may not always work for the other.

Welcome!!

You have a major advantage because like you said, you are able to utilize your VA eligibility to get your foot in the door. Have you decided which types of investment property you will be going for? Single Family, Multi Family/house hack?

You are in the best spot possible to learn from everyone on here!

Why not a futon? Create like a multi purpose use of the space so somebody can use that room as their living room and also their bedroom. This will create a space that feels larger because there are many possibilities that come with having a shape shifting bed... haha 

Futon is a multifunctional tool that isn't utilized as much as it should be.

Just hop on the ole Google and start interviewing CPAs and their knowledge in Real Estate. Word of advice, don't always listen to strangers advice on who they go with. I've had run ins with people on here telling me to use "their" contractor.

Make a couple phone calls, turns out the contractor is their son who's done about 2 jobs in a year. 

My 2 cents

Cash is King. Looks better on paper, no carrying costs, lender points, etc. Buy in cash then refi it down the road to get your equity out of it. Then rinse and repeat. 

Why would you ever want to partner with someone who may not have enough funds to be a complete partner with you? 

You don't need a low income partner to get into a house with as little as 3%. You can even have the partner househack one of the units with 3.5% - 5% down. Doesn't have to be a low income individual.

I would take your money and go get another asset. I would go flip a house, take the profits from that flip, do your basement and still have the same money that you had in your pocket prior to the flip. 

REI is how far can you stretch your dollar.

Welcome to Real Estate. The first year or two isn't always going to look great on paper but remember when it comes to Real Estate... Todays price, is tomorrows bargain.