All Forum Posts by: Cade Olof

Hey @David Chan Here is a list of solid zip codes in Tucson that I invest in: 85705, 85711, 85712, 85716, 85719

Hello @Augusto Celis I am a real estate agent here in the Tucson area. I myself just closed on my first triplex near the U of A that I'm currently house hacking. I would love to discuss this with you further. Send me a PM :)

Hello Stacey,

I am a newbie investor that just closed on my first Triplex here in Tucson about 2 miles from the U of A. I'd love to set up a meeting with you if you're open as I know that's what helped me the most starting out. To be able to sit down with a local and ask all the questions that came to my mind. If you're willing, please send me a personal DM so we can discuss further. Thanks! 

Hey @Lewin Staine!!!

I applaud you for getting after it! I just recently purchased my first triplex with an FHA loan so I'd be happy to look over your analysis. Feel free to reach out to me personally or just respond in this forum with the breakdown of the deal and analysis!

Hello Luke,

It's cool to hear that you're wanting to invest in Real Estate. I applaud you for taking that step!

House hacking is where it's at! I think you should totally do it. As an agent myself, I can assure you that making money in this field requires a lot of effort and delayed gratification. Regarding @Mike Delprete point, it is a commission based position and so the first year or so feels like you're pushing a boulder up a hill. So the house hacking strategy is almost a must in order to keep your expenses low. 

Is the Phoenix market too saturated due to the huge influx of people moving there? I myself am not too familiar with the Phoenix market however I know it's extremely hot! I have many investor contacts there so I'd be happy to connect you with someone who better understands that market.

What would the benefit of putting any money down be if the VA loan allows me to put 0 down? I would recommend using the 0 down as that's the main benefit when utilizing a VA loan.

Thoughts on house hacking / living with friends? I myself rent to a couple of friends and some people frown upon it. However, I made it extremely clear to them on the front end of what I expect from them, and what they can expect from me as their landlord. Just be sure to set clear expectations so they know you have a business to run.

Feel free to reach out to me personally if you have any other questions or concerns! I wish you the best.

@Luke Edwards

That looks like an awesome VRBO investment! I loved that you bought it with the intent to use for you and your family as well. Congratulations!!!

Hey Brandon! Thanks for this post.

One of my financial mistakes was not considering PMI!!! I failed to consider this fee when calculating my mortgage payment. It ended up working out in the end but as Jeff said I glossed over it and missed it in my due diligence. So the big takeaway is to triple check everything! Even if you're sure about your numbers, run them again. And then have a friend look over them without you there. We have to be 100% confident in our numbers.

Wow Bryan! That's the first time I've ever heard of anything like that. Is there any fine print in the docs that people sign saying they can't be obnoxious or cause a disturbance? I mean how crazy are they getting for the neighbors to get involved? Or are the neighbors just being picky?

Hey Sid!

It's great that you are looking into getting started with real estate investing! I applaud you for taking action :)

I am not located in San Diego nor do I have any knowledge when it comes to that market. However, I just recently closed on my first triplex with using an FHA loan and it has been great so far! I was able to only put down 3.5% and lock in my interest rate at 2.5%!!! I highly encourage you to use an FHA loan if the numbers on the property make sense.

One of the mistakes that I made was not accounting for Private Mortgage Insurance or PMI. This will be charged being that you put down less than 20%. Just make sure to include this cost when running your expenses. Feel free to reach out to me personally as I just finished up this whole process and have knowledge to provide. I would love to go into more depth.

Best of luck to you with your first property!

@Sher J. Thanks so much for sharing! I think people can sense authenticity vs when you’re just trying to save face! :)