All Forum Posts by: Caleb Brown

I noticed it has pockets and certain cities only, are you guys going to slowly expand it to include more? Will there be an option to add off market/pocket deals?

It depends on the property. Studio or 1 bed units can get away with no dishwasher. 2+ will need one. You have to know who your tenants will be and once you get to couples/families they will want/need a dishwasher. Others alluded to it but dishwashers are low maintenance and tend to last. If you have constant issues then it can be the install or the appliance. 

You would need to do those repairs so I think selling would be your best option. If you have equity you could use a HELOC or refi but then you'd make the numbers tight. If something else pops up it'd further sink things. If you do sell I would still gut the basement so it's a clean slate for the next buyer, it'd be more transparent so the next buyer can have accurate numbers. If there is mold that tenant needs to vacate ASAP, not healthy and can be dangerous if they are staying.

Happy to connect and sit down. 

For clearing items we started with small/random things we didn't use and got rid of those. Slowly decluttering and selling stuff. You can always buy another item so don't be afraid to get rid of stuff. If you haven't used it in awhile or barely use it, you don't need it. If there is excess you can get a small storage unit but that's an added expense. Where is your property at in KC? Depending on where it's at it can be ideal candidate for MTR/STR.

If you don't want to get your license you can set it up as a marketing company and provide leads at an "x" cost per lead. The best way for you as others noted is being licensed. You can scale and be a able to provide multiple services to sellers. 

I would not. If you need to save more so you have left over cash do that. Leveraging the purchase and down payment is way too risky and a lot can go wrong. 

Love Dave Ramsey. Dave Ramsey got burned by over leveraging and he would use cash and not use leveraging when he restarted. It's a slower way to scale but he has the income where it doesn't matter. I think you have to figure out where you are risk wise. Leveraging is a tool. If used too much you can sink  your ship. Not using any can be a slow way to grow. I do agree in not racking up personal debt(credit cards, vehicle's, etc). Having too much personal debt will hurt you for investing. Your income is one of the best tools to grow your wealth and debt drags that down. Focus on a house hack out the gate along with saving and building a strong foundation(income, budgeting). As you buy your first property you can learn and decide where to go next. 

 Oh nice! It's probably a little different, certain areas have changed quite a bit

Happy to chat on KC. Similar to some of the areas mentioned above, strong market for flips or BRRRs

House hacking a duplex or triplex will pretty much never cashflow when you occupy a unit. The benefit is you get into a 2-4 unit with utilizing low money down. Often your out of pocket monthly is the same or cheaper then renting so you aren't paying more, don't think of it as negative cash flow when you are occupying. I would run #'s with you out of the property if it was fully rented. This will give you a clear picture. House hacking gets you in the door and after a few years can really snowball.