All Forum Posts by: Brian Brusich

I am looking into buying a property but it has one of those old steep staircases circa 1890s

If I carpet the stairs and put up bilateral rails am I still on the hook for personal injury if it occurs?

What can I do to make it safer for tenants and for me?

I have someone whose interested in being a passive partner where he would provide capital for cash buys and I would be responsible for sourcing deals, negotiating, closing, refi etc.

Does anyone have advice on structuring a partnership, if he’s contributing all capital how should I make sure he gets fair compensation?

@Wendy Patton this place in looking into is around clarkston, does they make the cut?

I’m compiling a list of hard money sources to call tomorrow in mid Michigan. I’m already using bigger pockets recommended lenders in sourcing my list, does anyone have a hard money lender in Michigan area trust and would recommend above all?

Last question, if you’re legally hosting roommates as owner occupied and you leave, are you allowed to rent out your old space or does zoning need to be converted to multifamily when you no longer live there. 

I’m wondering because if you househack a large house with owner occupied loan and move out in a year, it seems like it’ll be much harder to cash flow as a sfh then a multi

@Craig Curelop I’m having trouble with this idea in general for single family homes. In my market I located a large sfh that an owner occupied fha loan strategy would be great for so I called the township zoning office.

First thing Is they told I can’t rent home because it’s zoned single family which leads me to two questions.

Are people doing this without zoning consideration?

And

If you get an owner occupied fha loan, live for a year and leave, and it’s a sfh, can you rent out your old space or is it disallowed because it’s considered a duplex?

@Nathan G. I actually called zoning of the town I was looking in after posting and they said I couldn’t rent out my main floor despite having separate entrance.

I have other questions though, like assuming all above board, if someone is renting in a place, how do they get mail?

Sorry if seems like dumb questions but the concepts seemed simple in theory I’m just curious how to execute

I just listened to episode 350 and enjoyed the discussion about sacrificing comfort for stability, specifically it was mentioned buying large SFH and converting to have roommates.

This is an interesting concept to me as a house hack but I’m left a little confused, is it really that simple or isn’t there some zoning ordinances to prevent putting multi families in houses like that?

If there is then that was really glossed over

@Michael Doherty what is the actual cash flow after accounting for vacancy, capex, mgmt and utilities?