All Forum Posts by: Tyler Whatcott

The house I currently own has a basement that is prime for a house hack (accessory apartment). It'll cost me about $40,000 or so to get it completely converted into a basement apartment. I don't have that much saved up right now so what are the best options for financing the remodel? I also own a townhome that I'm renting out that has about 30% equity in it. I'm hesitant to cash out refinance the rental because I have such a good rate (2.27 - is a VA loan and was our first home) and have a bit of cash flow (not a ton but a decent amount). My current home only has about 10% equity. I'm also hesitant to do a personal loan cause I don't want to get stuck with a payment for a couple of years. I'm also very new so I don't know what options are available. Any help or direction would be much appreciated.

Gotcha. That makes sense. This is definitely a good start and now I have a better idea of where to focus my learning. Thank you

Thanks Jim and Michael, this is very helpful. Does the loan work about the same then (as buying something on the MLS with a realtor), I just go through the same preapproval, and then the lender works with the title company to make sure everything is processed correctly?

@Braden C. I'm planning on house hacking. I want to buy a duplex and live in one half.

I'm getting ready to start looking for off-market deals through driving for dollars and direct mail. My question is, what do I do once I find a deal? I'm very new at this and want to know what I should expect before getting started. Do I need a realtor to do the deal once I find one? What's a good book, or guide for the whole process of closing a deal once found?

I'm looking for a good way to find off market deals and came across ProspectNow. Does anyone have experience using this service? I'm wanting to use it to find duplexes in Utah county, Utah. Is it worth it? If not, what other methods do you use to find owner information of small multi-family off market properties. Thanks.

I'm looking for a good way to find off market deals and came across ProspectNow. Does anyone have experience using this service? I'm wanting to use it to find duplexes in Utah county, Utah. Is it worth it? If not, what other methods do you use to find owner information of small multi-family off market properties. Thanks.