All Forum Posts by: Anthony Cole

Hey Otto, im going to send you a personal message with contact info and let set up a call. I think one of the most important things is just sharing in the journey, thanks for weighing in, looking forward to connecting! 

Im looking to share my journey with someone that has experience building their portfolio by acquiring single family homes the old fashion way, getting a traditional loan in most cases with 3% down or 5%... Ive acquired 4 properties and remodeled each to create 9 doors, I do all of the remodeling myself (along with tons of help from my now x fiance) 5 of the units are midterm, 3 are long term and I live in one myself. I have tons of vision and have learned an incredible amount in construction and interior design. Im 44 and the fatigue is starting to set in, Ive had to make the tough decision recently to bow out of a pretty awesome relationship due to the amount of time and energy real estate requires (were still partners in 2 properties and its going great I think were actually better business partners) Im hoping to share my financial situation with someone thats doing well enough, and guide me in a direction thats more stable and sustainable in the next 5 to 10 years, especially in relation to being a good husband and potential father in the next 5 years ideally. Happy to pay for this service if necessary.

Id love to also mentor someone, Im well versed in all things related to remodeling, hospitality in the mid term space and have tons of general insight when it comes to being a landlord to long term tenants. Happy to share what ive learned as well for anyone getting into real estate!

Im looking to share my journey with someone that has experience building their portfolio by acquiring single family homes the old fashion way, getting a traditional loan in most cases with 3% down or 5%... Ive acquired 4 properties and remodeled each to create 9 doors,  I do all of the remodeling myself (along with tons of help from my now x fiance)  5 of the units are midterm, 3 are long term and I live in one myself.  I have tons of vision and have learned an incredible amount in construction and interior design.  Im 44 and the fatigue is starting to set in, Ive had to make the tough decision recently to bow out of a pretty awesome relationship due to the amount of time and energy real estate requires  (were still partners in 2 properties and its going great I think were actually better business partners) Im hoping to share my financial situation with someone thats doing well enough, and guide me in a direction thats more stable and sustainable in the next 5 to 10 years, especially in relation to being a good husband and potential father in the next 5 years ideally. Happy to pay for this service if necessary. 

Id love to also mentor someone, Im well versed in all things related to remodeling, hospitality in the mid term space and have tons of general insight when it comes to being a landlord to long term tenants. Happy to share what ive learned as well for anyone getting into real estate!

Definitely house hacking, id be happy to discuss my journey I started in 2018 with a the house hack strategy and have worked my way up to 4 houses with 9 doors total.  

Im looking to mentor as a way to give back, ive learned so much but a lot of it was trial and error which I can absolutely help you avoid.  I understand so many aspects of real estate, what I would consider the most valuable skill is looking at properties and figuring out best way to go about the hack to maintain a particular quality of life.  

Couple questions, how old are you and are you single or in a serious relationship?

Hoping to connect with a CPA or professional tax advisor that has experience in real estate. Our current accountant is wonderful but has limited expertise in navigating the real estate realm. We are excited to discuss strategies to maximize our returns and grow our portfolio while being mindful of complex tax implications.  Looking forward to any and all referrals!

We own our primary residency in Spokane, Washington and frequently drive to Portland, Oregon to work on our rental property that has needed a lot of work. We have a glorified house hack scenario in Portland where we rent about half of the property out as a mid term and while our travel nurse is working we are improving the second half of the property for a future permitted attached ADU.

We both work remotely and are curious about how long we can stay at the rental before it becomes an issue, wether thats state tax implications or perhaps when our jobs should be notified that were working in WA vs OR? Of course we love our income tax break in Washington and lean towards remaining in our primary residency to benefit from it but the constant driving back and forth is challenging. Most will say just buy a place in Vancouver, WA which we are considering but we want to spend a couple more years in Spokane improving that property well before making any significant moves. 

Hey @David Garner thanks for the advice, appreciate you weighing in. So you're actually supporting the borrow rather than earn model. 

You're right about the assets providing enough profit to repay the debts along with the need to cover your day to day expenses.  

We currently have 6 doors, they pay for the borrowed money along with generating about 1/8 of our day to day expenses. At this rate we'll need about 48 doors to cover the debt and our personal lifestyle. 

Thanks and congrats on all your success!

@Jeremy Kitchen Thanks for the quick response! The inflation component is another plus to borrowing it vs earning it.  In the case it takes you 3 yrs to earn the investment capital it naturally loses value per year, when on the other hand you borrow it and invest it immediately the investment (if made wisely) earns money.

This is only based on the success of the investment of course, which is the risk we take. 

I'd like to propose a simple question. If you have the ability to source investment capital regularly at a realistic interest rate, let's say 7% APR. Is it wiser to borrow the money rather than 'earn' the money traditionally in which you pay 30% income, federal, state, etc. tax on? I realize this is a loaded question and want to keep it fairly surface level to invite as many opinions on this as possible!

Thanks Terrell, your perspective on this aligns with my thought process big time! Totally agree to higher out when I need a GC more experienced. In the meantime approach construction more as a project manager saving me on time and money.