All Forum Posts by: Cade Olof

Hey @Jon Yost! Glad to see you're utilizing the BP Forums. I'm a Realtor here in Tucson and would love to help you find a proper investment property. Feel free to PM me!

Hey @Nick Sansivero! Kudos to you for taking this to the BP Forums! I would definitely do some more research as I second many of the comments that have already been made. I personally used a 3.5% FHA for my triplex here in Tucson. It may be worth your time to reach out to some more lenders as the down payment is going to greatly affect your CoCROI. Feel free to send me a PM with any more questions :)

Hi @Lisa Caracciolo! I'm glad to hear you found a potential deal in Tucson! I agree with @Bobby Hosmer in regards to the unit size and age of the property. The pricing sounds right... I actually have a renovated triplex two miles from the U of A. Feel free to PM me if you'd like some more insight as I am boots on the ground :)

Hey @Jonathan McCullough! It's great to hear that you're interested in investing! May I ask why self-storage or laundromat?

Hello, @Cornelius Brady thank you for your service! I have some friends who are military and do a ton of traveling! I've found that most of them specialize their investment portfolio in one market. While traveling you may get access to different markets however what's better: 1. Having to build a new team every 2-3 years in a new market OR 2. Building a team in one market that is consistent in getting you deals regardless of where you are? I don't know if there is a right answer to that but it's something to consider and will be subject to each individual person. Regardless of what you do, kudos for investing in Real Estate and taking action in the first place!

Wow @Jeremy Fenceroy!! Way to stick with it. That's really inspiring how you managed to hang on and turn that property around! Good for you! I wish you the best in your future investment endeavors.

Hey @Hartley Schwartz! This is a great question! One of the things I like to know is whether or not the lender owns any Real Estate themselves. This doesn't necessarily make or break the deal however an honest lender who invests in Real Estate themselves may point you in a better direction in regards to financing other than their personal business. If they are an investor, and they want you to succeed, they're going to refer out some of the best solutions they've personally used. Hope that helps!

Congrats @Tim Hershberger!!! There's no better feeling than acquiring Real Estate. I wish you the best in your continued investing career :)

Hey @Christian Barto! It's great to hear that you're looking to house hack! I have a tip for the managing side of things once you acquire the property. 

Since you'll be living there, you want to make sure that you can trust the tenants you bring in (obviously). With that being said, some people don't rent out to people they know or any of their friends. That may be great criteria for when you have a multifamily property and you don't have to room with your tenants. However, it looks like you're interested in a SFR. In this case, I would say friends are probably better tenants as long as they're aware of everything in their lease and you're straight up with them. They'll respect you and your property more if you lay down the rules on the front end. Do not let your emotions get involved. Your rental property is no different than a regular business. If you are a business owner, you don't keep people around that don't abide by the rules because they can negatively affect your business. This is how you should explain it to your friends if you do end up renting out to them. Hope this helps and feel free to PM with any questions. I'd be more than happy to help!

Hey @Jonathan White! I don't know of anyone in San Diego who has successfully performed a multifamily house hack. I am not located in San Diego either however, I have done my own multifamily house hack here in Tucson, AZ and I'd be more than happy to hop on a call to discuss what I learned so you and your client know what to lookout for. Feel free to PM me :)