All Forum Posts by: Austin Bull

Hey Austin,

The book I am currently reading is never split the difference by Chris Voss. This book isn't directly relates to REI but this book is one that can be used in almost any endeavor especially when making deals. I have used some of the info in the book for several off market deals.

Hope this helps

Romney

 @Austin Bull Loopholes of Real Estate is a great book on tax strategies. 

Hi Austin - Great question. 

The landlord always pays property taxes and property insurance. Taxes and insurance are typically built into your mortgage payment. 

Househacking multifamily units: If the utilities are separately metered, most landlords have the tenant pay their own utilities unless the market dictates otherwise. For example, if all of the other listings in your area include water.. you likely should as well. If the utilities are not separately metered, you build this expense into the rent you charge. Tenants typically pay their own wifi. Landlords typically pay for lawn care. 

Househacking SFH by the room: You typically provide water, electric, gas (if applicable), lawn care, and wifi. You can opt to split these expenses evenly among the house members. However, if you have ever had roommates, I am sure you are familiar with at least one roommate complaining that another roommate uses too much water, always forgets to cut off the lights, works from home and therefore uses more electricity, etc etc. I prefer to avoid those scenarios so I personally pay those expenses and charge higher monthly rent accordingly.

There is no "right" way. You can do whatever works best for you.

@Doug McVinua thanks, and you are spot on with regards to our market, low supply and prices are appreciating, people are moving here and there is a lot of growth happening, as rates starts to drop in next couple years prices will continue to increase.

@Austin Bull remember this, time in the market always beats trying to time the market. Getting started is the most important thing. I’ll shoot you a message, so we can connect.

@Austin Bull Interest rates are high right now, and as soon as they drop a point or two, you will want to refinance. A good lender will get you into a loan now at a low cost (higher rate) but then prepare to refi once the rates drop down. Hence, the loan you get today may be a short-term one. Short-term being relative to a property you may hold for many years.

@Josh Young has done really well for himself by investing in the SE Valley. Josh knows the path to success, where, how, the lender piece, etc.