All Forum Posts by: Wa Chan

 That's great! If you don't mind me asking, how has your experience been investing OOS, particularly building a team? I'm looking into the South currently (AL, TN, NC, GA).. I see you're from Boise; love it there! I used to live in Ontario, OR and more recently in Burns, OR for work so would visit Boise frequently. 

 That's great! If you don't mind me asking, how has your experience been investing OOS, particularly building a team? I'm looking into the South currently (AL, TN, NC, GA).. I see you're from Boise; love it there! I used to live in Ontario, OR and more recently in Burns, OR for work so would visit Boise frequently. 

Thanks, Joshua! After thinking about this a bit more, I realize there may be multiple causes for headaches throughout the process. Being new to RE and without the track record, I worry it may be difficult to build a team OOS. 

Hello all,

Currently, my fiance and I are currently house hacking our first property. We added a room, along with a few other renovations, and now have 3 roommates (4 bd, 2 ba). Not ideal but worth the grind 100%! Living in a pricey market in Portland, OR, I've started looking in to investment OOS for our next move (reading David Greene's book currently of course). Originally, our goal was to BRRRR but this is extremely difficult, if not impossible, in the Portland area, especially when we're competing with cash offers for these "fixers."

My question is whether a hybrid OOS BRRRR is feasible? Hard money seems a little risky considering I can't physically be there to make sure contractors are timely... Other option is to finance the property and pay cash for repairs and/or open lines of credit. 

I'd highly appreciate any thoughts or experiences! Cheers!

Hello everyone,

Hoping to hear from others’ experiences as I’m a little stressed here. I moved into my home earlier this year. It is listed as a 1.5 bath on city records, however the half bath has a toilet, sink and a standing shower so is technically 3/4 bath. I just had a plumbing company repipe all the supply lines and drain pipes. The inspector (I got permits) came today and asked if the bath in question is permitted. He also mentioned there is no vent fan which I’m going to install. I only see a record of a permit from few years ago saying the bath sink was replaced and that’s the only permit I see for the bathroom. It looks like the previous owner installed the shower without getting permits. The inspector will return in the next few days after doing some “research.” What are some scenarios that may happen? I’m guessing he is going to require proper permitting for the bath now. What does this entail? Will I need new mechanical, electric and additional plumbing permits? Worried about how much this will cost. Any help/insight is appreciated. TIA!

Hello everyone,

I closed on my first property mid Feb, and am in the process of putting in an extra bedroom in the basement (has a separate door into the back yard) and building a wall down there to create a shared laundry room for the main and lower levels. I will put in an egress window, build the walls, as well as create a closet to separate the furnace in the room. We will also redo our entire backyard (in really bad shape right now). We hope to gain equity after refinancing so long as rates stay within reason. I will be getting a permit for the egress, but am wondering if the permits for building the room and electric wiring are needed? There will be a few outlets and recess lighting added. Also, aside from potentially needing permits to increase equity, what are implications are there to not getting every single permit? I’m finding permitting to be rather confusing and so I’d appreciate any advice. TIA!

@AJ Shepard I have run some numbers on triplexes but haven’t come across any quads in our range. Initially we were looking at a triplex but found out through our lender about the self sufficiency test which it did not qualify for without a 15% down payment. We’d like to keep down payment low 3.5% so that we have cash available for remodeling and in case of vacancy and also for leverage. Do you recommend putting in more down payment to get more units? Cash flow works out much better.

@Steven Wilson awesome idea! Being in Portland I’m finding it hard to make the numbers work as well. Any good properties that pop off are pending in a few days. I definitely will be looking into OOS but wanted to get my foot wet locally to learn and get a feel for things first. I’ve heard good things about OH’s market for investing!

@Jaron Walling thanks for your reply! The comps in the zip code are either a little above or at our price. There is a duplex across the street that was 30k above our price but it does have 2 full bathes whereas ours is 1.5. Inspection soon, hopefully there is nothing significant wrong with it. Not sure how accurate Zestimate is but it is at the same price we’re buying. We are planning on rehabbing over the year we live there, repaint, change to hardwood, landscaping, change the fence. Would you have any tips on how to determine how much a property’s value can increase after certain rehabs? Been having some difficulty with figuring that out. Thanks again, much appreciated!