All Forum Posts by: Ryan Leake

Reach out to Heidi Zapata in San Anotnio! She is a hustler and finds off market deals for her house-hacking clients! Here's website: https://heidi.tdtrealtors.com/

Congrats on all your success - 85%+ occupancy for MTR is amazing! Could you send the listing for your MTR as well? 

I'm okay not breaking even, as long as it cuts down my personal monthly payment which would've otherwise been used as rent to under $1,000/mon. What are your thoughts on targeting duplexes over a 3bed/2ba SFR? @Eliott Elias I like the idea of adding an extra bedroom @Luis Saenz

Curious to hear your thoughts on the best areas to househack a 3bd 2ba house near Austin, TX. Max PP is $400,000. Looking to add some value through cosmetic upgrades as well (carpets, paint, etc). The plan would essentially be rent by the room, where I occupy one of the rooms. Ideally within a 20 minute drive to downtown Austin?

After a little homework, Leander, Round Rock, and Cedar Park all seem like interesting options. What do you think? Are there other options to consider that are still within a close proximity to dt Austin?

@Caroline Gerardo

Thanks for sharing your thoughts! He is currently in a high density apartment and grew up in a little farm house with 6 siblings so living in shared spaces doesn't seem to bother him. 

In terms of staying close to his friends... I don't say this with judgment or gloom but he really doesn't have many in his current city. In fact, his closest friend in the area actually lives up in Petaluma where he's looking at property's. 

Really like the idea to get all siblings on board and will start a group conversation around this decision. Thanks for the tip!

@Esta Ryder

I really appreciate your perspective here. You bring up an interesting point of whether it's me or him that really wants to make this happen. Most of me believes that we both do but I might be having a hard time seeing my own bias. What I do know is that he is ready for change and expressed interest in moving further north of his current location, towards an area like Petaluma - which has solid momentum as a real estate market. 

Having him as a renter would work if I could single-handedly afford a duplex in the area however, at least from a traditional lender's perspective, I am not yet able to qualify for unless my dad co-signs - which I see ask a greater risk as I learn more through this process. Especially given that I am one of four of his sons.

The other options we're looking at is investing his $ into a out of state market and continuing to rent wherever he pleases. I could invest in my own opportunities out of state separately. 

Thanks again for your insight!

@Henry Clark

Thanks for your input here! To make sure I'm interpreting your comment correctly - are you suggesting that rather than focus on investing his excess capital in real estate, he should look into spending that $ on legal, medical, insurance, and other matters related to his death instead?

I'm not too familiar with estate planning so further explanation would be appreciated

Hi there - thanks in advance for taking the time to consider my situation!

The situation:

My dad is 75 years old and looking to retire in the next year. Currently, he is an apartment renter in Marin County, CA. He likes his place, but doesn't love it and would be open to relocating around the area. He has $100,000-$150,000 in the bank that is ready to be invested, rather than get eaten up by inflation. Granted he has been conservative with his money and rarely invested it up to this point - I am trying my best to inform him on the value of investing in real estate. I have ran several different investing strategies by him and we've narrowed it down to two possibilities - house hack a 2-3 unit property in San Rafael, Novato, or Petaluma or buy one or two SFR in a hybrid market out-of-state that will likely have positive cash-flow and decent appreciation overtime. It's also important to note that he qualifies for VA financing.

On top of that, I am also actively educating myself and storing capital for my first real estate investment. I feel as if I have accumulated enough knowledge to make either strategy mentioned above work, and I hope to deploy some of my own capital to begin my investing journey. An additional consideration is that I hold a CA real estate license. That said, by adding my own capital, my hesitations are overcomplicating my dad's first real estate investment and adding any possible risk towards our positive relationship.

The questions:

1) Given the situation, do you see one strategy or the other (house-hack or out-of-state) as a clear favorite?

2) Is it wiser to combine our capital to invest in a property together or seek out REI opportunities independently from my dad?

Appreciate any & all insights provided! If there is other information that I can provide to paint a fuller picture then please let me know in the comments. Thanks!

Hi there - thanks in advance for taking the time to consider my situation!

The situation:

My dad is 75 years old and looking to retire in the next year. Currently, he is an apartment renter in Marin County, CA. He likes his place, but doesn't love it and would be open to relocating around the area. He has $100,000-$150,000 in the bank that is ready to be invested, rather than get eaten up by inflation. Granted he has been conservative with his money and rarely invested it up to this point - I am trying my best to inform him on the value of investing in real estate. I have ran several different investing strategies by him and we've narrowed it down to two possibilities - house hack a 2-3 unit property in San Rafael, Novato, or Petaluma or buy one or two SFR in a hybrid market out-of-state that will likely have positive cash-flow and decent appreciation overtime. It's also important to note that he qualifies for VA financing.

On top of that, I am also actively educating myself and storing capital for my first real estate investment. I feel as if I have accumulated enough knowledge to make either strategy mentioned above work, and I hope to deploy some of my own capital to begin my investing journey. An additional consideration is that I hold a CA real estate license. That said, by adding my own capital, my hesitations are overcomplicating my dad's first real estate investment and adding any possible risk towards our positive relationship.

The questions:

1) Given the situation, do you see one strategy or the other (house-hack or out-of-state) as a clear favorite?

2) Is it wiser to combine our capital to invest in a property together or seek out REI opportunities independently from my dad?

Appreciate any & all insights provided! If there is other information that I can provide to paint a fuller picture then please let me know in the comments. Thanks!

Hi there - thanks in advance for taking the time to consider my situation!

The situation:

My dad is 75 years old and looking to retire in the next year. Currently, he is an apartment renter in Marin County, CA. He likes his place, but doesn't love it and would be open to relocating around the area. He has $100,000-$150,000 in the bank that is ready to be invested, rather than get eaten up by inflation. Granted he has been conservative with his money and rarely invested it up to this point - I am trying my best to inform him on the value of investing in real estate. It's also important to note that he qualifies for VA financing. I have ran several different investing strategies by him and we've narrowed it down to two possibilities - house hack a 2-3 unit property in San Rafael, Novato, or Petaluma or buy one or two SFR in a hybrid market out-of-state that will likely have positive cash-flow and decent appreciation overtime.

On top of that, I am also actively educating myself and storing capital for my first real estate investment. I feel as if I have accumulated enough knowledge to make either strategy mentioned above work, and I hope to deploy some of my own capital to begin my investing journey. An additional consideration is that I hold a CA real estate license. That said, by adding my own capital, my hesitations are overcomplicating my dad's first real estate investment and adding any possible risk towards our positive relationship. 

The questions:

1) Given the situation, do you see one strategy or the other (house-hack or out-of-state) as a clear favorite?

2) Is it wiser to combine our capital to invest in a property together or seek out REI opportunities independently from my dad?

Appreciate any & all insights provided! If there is other information that I can provide to paint a fuller picture then please let me know in the comments. Thanks!