All Forum Posts by: Nick He

Hello there,

How do you do tax every year, by yourself or hire an accountant? Do you have any recommendations of good tax accountant that have lots of experience with rental properties?

Thank you so much!

Best,
Nick

This is so wonderful! Congratulations! We closed our #8 last month too! I am working part time on real estate investment too. It is hard but totally worth it! :) 

Originally posted by @Michele Fischer:

@Nick He, near me, resurrected this post, so I gave it some thought.

Think my freedom number is $8,000/month, and once the current portfolio is paid off we'll be halfway there.  I'd like to think we could live comfortably and happily with much less, given our striving toward voluntary simplicity.  But lots of unknowns in the future with healthcare, kids, how expenses really change without a 9-5.

On track to hit $1MM net worth, that is the current most compelling goal.

As far as number of units, I'd like to think that our portfolio will be completely different in 15-20 years, with fewer higher quality units, so hard to speculate on that.

 Thanks Michele for sharing! I completely agree with you on the unknown in life. I am also working full time in a technology company. I think real estate will provide freedom to choose what I want to do, but not for no working sake. Have a wonderful evening!

Originally posted by @Julie Marquez:

Welcome to BP! It sounds like you are doing great things already!

http://www.seattletimes.com/seattle-news/politics/...

Interesting information here about ADUs in Seattle.

 Thank you so much for sharing Julie! Such an exciting news!

This is such a good post! Thank you for providing so much insights and inspiration everybody! I just did my freedom number today. I need $15K per month. I am at $9K net/month now. So $6K to go. If I buy more SFR or TH in Seattle area, that will be 8 units. I could also buy one more multiplex and a few SFR/TH. I think it all depends on the opportunity. I do plan to slow down on acquisition a little bit now because the market has been crazy in Seattle area this year.

Most likely duplex, triplex, or 4-plex. Maybe SFR. Thank you Adrian!

Kyle Haberly I am interested in commercial or portfolio loan. Can we talk to get more info about your service? Thank you so much!

Hello there!

We are approaching 10 mortgages, so we are looking for other ways to leverage. Searching from past BP posts, I found out that portfolio and commercial loan are both options. Is there any Seattle local lenders that we can work with? Any recommendations are more than welcome!

Thank you and have a wonderful day!

Best,
Nick

This is wonderful! Thanks for sharing! Best luck with everything!

You guys really got some great deal! My cheapest investment is not that cheap :( we bought it in 2011 in Seattle for $168k. Our mortgage is $980 and we rented it out for $2650 a month. Cash flow is pretty good but acquisition cost is definitely not that cheap :)