All Forum Posts by: Terima Nagatani

@V.G Jason most definitely! I have Florida, and Tennessee on my watch list as well! Thank you for sharing, really appreciate it! 

@Amir Khan Appreciate you sharing your insights! 
If I were to invest in WA - I would simply buy & hold or if I look outside of Seattle; Renton, Federal, Tacoma (typically have larger lot sizes)- would possibly look into a building in ADU to generate extra income or live in while I rent out the other units.

Given interest rates are high right now, I would think in 3 - 7 years rates will drop and I'd be able to refinance on the properties -> reducing my monthly payments. When I do refinance I'd transfer these properties under an LLC.

In the case properties aren't cash-flowing even after refinancing in 3 - 7 yrs, I'd look into using the home equity to purchase a new property (hoping this offset the underperforming property) or 1030 exchange. 

@Bjorn Ahlblad Thank you - I think I just had to hear it from someone else haha! 

Hi ya'll, 

Wanted to hear your thought on this. Currently have $170k saved up + mother offered to sign loan w/ me. Looking at duplex/triplex and plan on house hacking. My lender basically stated, whatever monthly payment (plus income rent) that we're comfortable with. 

I'm aware if we go the conventional route, duplexes are typically 15% down, triplexes 20-25% down; while FHA is as low as 3.5% down but PMI included. I rather put less down so I still have extra funds to jump on other opportunities that arise.

Currently looking in WA state (the state I work in) for duplex/triplex to house hack, however, majority of these properties won't cashflow for a few years (even after I move out of the unit). I've been crunching numbers since Nov and there's only been a handful where I've seen the numbers make sense. 

I started to look in other areas like OH, WI, FL and thought I could probably purchase 2-3 duplexes there than purchase just 1 in WA. Wanted to hear if anyone else had this dilemma and what actions they took. Any insights or experience is greatly appreciated! 

Note, I don't care much for appreciation - I rather have consistent cash flow and hold. If I was to invest out of state, I would also move there since my work is remote.   

Thank you to everyone who reached out! I'll be responding to everyone's DM's this week! 

Hi Team, 

Looking to speak to a few lenders - I'm looking to purchase in the state of Washington (Seattle, Tacoma, West Seattle, Everett, Renton) 
I'm a first-time home buyer, looking to purchase a duplex, triplex or quad. Would like to see my options for using an FHA loan vs a Conventional loan (credit score 780+).
I'm a W2 - with a yearly salary of $86k.