All Forum Posts by: An Ho

@Jacob Whitbeck please add me the Facebook group and Zoom meetings. I’m a newbie and would love to network and learn from everyone. Thank you! 

@Michael Haas

I love your thoughts on the single family with ADU, basement and backyard cabin. From what I've read here and some investment Facebook groups, a lot of people in areas around Seattle are doing that for the reasons you mentioned how it's easier to house hack single family houses, and also there are not many options for multifamily properties, and the good ones get scooped up fast.

I know the gifting situation is a bit confusing. They would essentially buy it in their names, making payments, so we live there for free. They later on, they will put it in a trust and gift it to me, no string attached.

@David A.

Thanks David! I saw this post as well and went through all the comments last night. I did collect some great ideas!

@Joshua D.

My parents want to buy and gift us a house. So we can own it and live in it for free. They have the cash to buy but prefer to make payments since interest is low and they’re making 9% interest where they keep their money. So no string attached.

I love the concept of the Brrrr strategy as a brand new beginner. I’m scared to death of the idea to buy the house with all the cash and all the what ifs in my head. That’s why I was thinking of getting started with househacking to gain experience and knowledge.

@AJ H. I want to invest for cash flow, that’s why I was thinking of going for househacking a multifamily property by trading my single family home for it. I want to use my own house and money and start and gain some experience with finding deals, rehabbing if needed and being a landlord before using my parents money. They want to buy us a house. I haven’t talked to them about using the money to invest yet. I might need to do some convincing.

My goal is purchase 5 properties in the next 3-5 years. Then 25 in the next 10 years. I would love to get into rehabbing, flipping, brrrr to buy and hold for long term passive income.

Hello all, I’m a super newbie here. I’ve been trying to brainstorm for ways to get into the investing world. Here’s my situation: My parents want to gift us a house with a budget of $1M- $1.2M. They will purchase and make monthly payments from the cash they have sitting in the bank making 9% of interest instead of paying all cash. And we won’t have any monthly mortgage payment , then we can save money faster + sell our primary home to invest. However, I feel like buying a $1M and waiting to save money to invest later is gonna cause us some opportunity costs. I don’t want to rush into things but I also want to take some actions sooner than later. Here’s my plan of actions:

1. Sell my current primary resident in Edmonds (20 minutes north of Seattle) while the Seattle market is super hyped up right now. ($800K ARV, $470 loan at 2.69%). The house doesn't cash flow ($2500 PITI, about $2900 median rent). Then I would use the proceed to purchase a 2-4 unit multifamily property to house hack using FHA 3.5% down, use the left over money for repairs and next investment property. My concerns are that househacking might be challenging since we are a family of four, with two kids under 7 due to smaller space, changing schools, and is it a good idea to do this now with the market being crazy around Seattle? And is there a way to purchase a multifamily using FHA before I sell my house? We don't want to rent.

2. Use $1M to invest instead. I'm thinking of dabbling in wholesaling to get as much experience and knowledge as I can, then do the BRRRR strategy with SFH or MFH, and eventually invest out of state since Seattle market is too expensive and I can't really do much with $1M.

While all of this can take a while to accomplish, what would be the best thing to do with the upcoming “crash” everyone is talking about while I have access to the fund? (Some of YouTube gurus have been saying to wait until the market slows down).

I’ve been studying hard by reading books (1/3-4 days) , watch a bunch of YouTube videos obsessively and listening to BBP podcast and other podcasts to educate myself as much and as fast as I can, but I still don’t feel like I have a clear sense of direction to pull the trigger. Any input would be much much appreciated!