All Forum Posts by: Shaun Hatton

Anyone know if a buyer who is also a General Contractor can do the work themselves using 203k loan?

Put the $5,000 towards your first investment.  Spend some time on here for free.  You'll be amazed at the great advice and rapid responses.

It sounds like this is a legal, non-conforming property which was probably grandfathered in when the zoning was changed to SFR after 1977. If that's the case it's likely that you would not be able to re-build 2 homes on a lot that's currently zoned for SFR.

Probably good to poise this as a hypothetical question to someone in city zoning.

@Treven May

Congrats on getting started.

The Slope is definitely a great way to put money aside to invest and you can spend your travel/airport time learning all the BP has to offer. The podcasts are a great resource.

I live down in Homer and work in the Oil & Gas industry, still trying to crack the Slope though.

Great idea having a property manager. Whenever I go out of town for work, it's a given that something (usually many things) will need repaired or dealt with.

All the best,

Craigslist is a great tool to gauge a rental market. Its easy to see what comparable places are renting for and how long are they taking to rent.

Local property management companies are a great resource too.

You might get more out of checking out what's available in Pflugerville now.

At the very least, it will help you learn that market and you'll be that much ahead when you get there.

Good luck.

Rhonda,

Richard C. wrote a great post on this topic yesterday titled "Depreciation Value: Personal to Rental"

Hope it helps.

Congrats.

Here's hoping HUD keeps taking less.

Appreciate all the info. from everyone.

The house does indeed need a paint job.

I'm running #'s and doing due diligence. I'll post if we pull the trigger.

I'm actually looking at both options. My family and I are currently building our own house out of pocket and living on-site in a 5th wheel.

If we end up taking a while to build we could go the owner occupancy route and turn it into a rental property after a year.