All Forum Posts by: Scott Heitman

enquire at your city dump...its what they do

When providing for rent a sfr (3+br) should I or should I not provide the major kitchen and laundery appliances. Or should the tenants provide their own?

Hi Kyle. Thank you for finding that article. The bank loan officer was not even able to do that in such short order.

 A principal residence is the dwelling you occupy for a majority of the calendar year, according to the Department of Housing and Urban Development, which sets FHA guidelines. At least one borrower who signs the security instrument and the loan note must live in the home to fulfill the owner occupancy requirement       

The above would disqualify me whether or not I rented out the property as I am spending so much of my time(up to 8 months some years) on the fishing grounds

Hi Julie great to meet you. Fantastic. I spoke with Kara at Skagit bank. She's sweet. She sold me on a conventional loan that looks to be way better than FHA. No strings or conditions. 4.37% Only 3% down. I'm driving out towards Sedro-Wooley tomorrow for a look around. BTW I would never ever rent out my boat its my lively hood. My idea of a hack is to live here at 325/month, that I have to pay, whether or not I'm onboard (fixed unavoidable cost). All utilities paid. Buy a house to rent out at its full rental potential. I may have to expand my search to out lying areas. That is ok. I really love this town. So much to offer. So beautiful. Great people.

Thanks Ingrid. Scary thought,transparency, but something I will do as a last resort.  Thankyou. I had not even considered that option. First lets see if someone in biggerpockets already has the info. Stay tuned.

I own a fishing boat. I fish Alaskan water for salmon. This years season is over so I plan on wintering in the harbor town of Anacortes Wa. I stay on my boat. Moorage must be paid on the vessel when in port whether or not I'm on it so I just find it easier to stay on it year round. I like Anacortes and so I want to buy an SFR here. Is it possible to get an FHA loan calling this place "my home"even though I'm fishing in Alaska half the year and just staying on the boat the other half. This is my particular plan to house hack. Possibly akin to buying a home, renting it out, and living in the tent or tiny house in the yard.

Check out Scott Trench's book

I would put myself in the partners shoes. Then ask myself whats fair here. Are we good together? Is it worth out sourcing his/her work to strangers? Personally I Think 50/50 is fair

Own longline fishing quota. Lease it out to a catcher boat. Walk onboard. Wait till the vessel catc hes your quota then offloads and sells. Split the proceeds. Bank youŕ share. This is an example of how I earn passively.

How do you find a house fo 7k. Cheapest around here are closer to 225k