All Forum Posts by: Skylar Jennings

We made him an offer where the comps are sitting and kept his 2% offer but that worked out to about $20k less than his asking and he turned it down and we basically said "okay well you have our numbers if you change your mind" and it's still sitting on the market at 70 days now when most duplexes in this area are gone before they even go live. 

My husband and I just recently relocated to Springfield, MO and are looking for our next house hack! If anyone has or knows anyone with a livable duplex for sale preferably under $270k (or would take that) please reach out to me! Ideally wouldn't need major repairs, just cosmetic stuff or anything under $1,200. 

Backstory: My husband and I are looking for our second house hack after moving to a new area. Our previous one we just moved out of is doing really well as a mid term rental and will be cash flowing about $1,400/month. 

Question: We found a duplex in a great area. It was built in the 60s but just got a new roof, HVAC and water heaters were all updated between 2017-2018 so fairly new, and it’s an active mid-term rental making about $3,200-3,600/month depending on the season and he provided all the documents to support that from the past 1.5 years. Of course since we’d be living in 1 side that would get cut in half but that’s fine. This is an Owner Agent listing and 1. He mentioned having a second mortgage on the house (orig. purchased in 2014) and credit card debt and that’s why he needs to sell even though he says he really doesn’t want to. I’m worried that’s why he has it listed so high and it won’t appraise for what he asking ($289,900 fully furnished when comps are around $250-270) so he’s hoping a cash buyer will come along.  2. He offered to give us the 2% buyer agent fee toward our closing costs if we don’t use a realtor. I did tell him I briefly held a license but then moved and don’t anymore so maybe that’s why he was offering that. I haven’t come across that before personally so I was wondering if that’s a good thing or a red flag he’d be offering that? I’ve ran the numbers and have an offer in mind but not sure if that 2% should be worked into the offer or just “cover x amount of closing costs.” 

Hi BP Team!

My husband and I are under contract and will be closing on our first property this week in Cookeville, TN! We will be househacking and thus far, have successfully navigated our "For Real Deal" thanks to this community and the great Team that we have brought together. 

I know that at some point, I found a post regarding RE Friendly Tax Professionals in Tennessee, but I'm having a hard time tracking it down now within the Forums or Facebook groups. Before we spend $1 on the property or moving forward under our new titles as "Landlords", I'd really like to spend some time chatting with somebody well versed in REI and hopefully add them to our Team going forward. We are not necessarily dead-set on having somebody in state and are definitely open to a remote partnership, but after reading The Book on Tax Strategies for the Savvy Real Estate Investor, finding a reason to visit Nashville for the weekend doesn't sound like a bad idea! 😎

Would love any recommendations or strategies you all have used to find that very important person within your own Team.

Thank you!

@Michael Bartlett @Corey Martin

Thank you both so much for your replies & recommendations. We appreciate it! We’re expected to be boots on the ground around the end of November so hoping to get the snowball in the works as soon as possible. We’ll be in touch :) 

Hey BP Team! My husband and I will soon be moving from Oahu, Hawaii to Cookeville, TN (in between Nashville and Knoxville) and are looking for any/all recommendations for Team Members in the Middle Tennessee area. This will be our first property that we intend to house hack but we are looking to build a Team as our next move would be in the STR realm within the 2023 year. Thanks to BP, we have been connected with one lender, but would love to hear any recommendations for additional lenders, investor friendly RE agents, contractors and RE tax professionals.

Additional details: We intend to house hack a multi-family but are open to a single family if the numbers work. Our current max budget is around $350k depending on the loan type. Thank you!

Tennessee*

Hey BP Team! My husband and I will soon be moving from Oahu, Hawaii to Cookeville, TN (in between Nashville and Knoxville) and are looking for any/all recommendations for Team Members in the Middle Tennessee area. This will be our first property that we intend to house hack but we are looking to build a Team as our next move would be in the STR realm within the 2023 year. Thanks to BP, we have been connected with one lender, but would love to hear any recommendations for additional lenders, investor friendly RE agents, contractors and RE tax professionals.

Additional details: We intend to house hack a multi-family but are open to a single family if the numbers work. Our current max budget is around $350k depending on the loan type. Thank you!

@Bryan Vukelich we are here on a 3 year contract so technically that ends January 2023. At that time we’ll be trying to move somewhere in the NWAR region. So we are torn with whether or not we should go ahead and try to buy our first property here since we do know the area now and think it would make a great long term investment, or just keep our money that we’ve saved and put it into our first investment property on the mainland where we could get a lot more out of the $50k or use it for repairs etc.

@Erik Browning thank you for that! USDA loans are something we have been looking into as well given that he works there and has the best access to a lot of resources and we just recently learned about the renovation option. I suppose we’ll just need to talk to a lender with experience in that area because we’re worried we might have issues qualifying based on our total household income.