All Forum Posts by: Christie Gahan
Christie Gahan has started 25 posts and replied 302 times.
Post: Furnishing a property out of state/long distance?

- Investor
- Hillsboro, OR
- Posts 304
- Votes 152
Make sure you have trash service! Order an extra can for all the cardboard boxes, bubble wrap that is gonna be coming your way.
Post: Furnishing a property out of state/long distance?

- Investor
- Hillsboro, OR
- Posts 304
- Votes 152
Mary, did you use a realtor to purchase the house? If so, tap in to there net work.
I would try to meet / find some locals when you are out there. Neighbors, handyman etc. I would probably schedule a handyman for an hour everyday. ( Some one different every day.) All of this, just to have someone you know/like/trust when a tenant reports a problem.
Post: Can you use income from ADU/in law apt to help qualify for FHA?

- Investor
- Hillsboro, OR
- Posts 304
- Votes 152
Thank you Emanuel Santa-Donao.
Good to Read the actual press release.
Post: Things aren't going well. Any advice?

- Investor
- Hillsboro, OR
- Posts 304
- Votes 152
Sounds like you have made some good local contacts via this post.
I just want to say, If you decide to sell ...you are not a failure. Sometimes, living to fight another day is a great strategy. The success you want is still available to you. This is just gonna be a good story to tell the grandkids ....
Post: DADU build - Architect and PM-ing the Job

- Investor
- Hillsboro, OR
- Posts 304
- Votes 152
Susie: Are you familiar with Derek Sherrell ? That Adu Guy? I hired him for a consult and he saved me a lot of headache, time and money. He has lots of videos etc on YouTube.
Post: 401k contributions or Real Estate Investing

- Investor
- Hillsboro, OR
- Posts 304
- Votes 152
Quote from @David Fals:
Quote from @Christie Gahan:
What kind of self directed 401k options do you have ?
I do have a rollover IRA from one of my old employers where I can choose my investments and only have Roth and Traditional 401k as options from my employer.
Post: 17 Homes and growing but FEEL Stuck HANDs-ON - How did YOU ESCAPE wearing every hat?

- Investor
- Hillsboro, OR
- Posts 304
- Votes 152
1. Feel responsible to fix / maintain for tenant / buyer..... Uh, No. The Buyer should get an inspection prior to purchase and know that they are liable to fix stuff.
Setting Boundaries is Kind.
Compose an email that you use in the instances. And, use it. Don't put thought in to it. Write up an email today and use it as needed. Short and sweet. " Hi. You are the owner. Read your contract. Solve your own problems and make it a great day!" ( Okay, that is a little snarkey .. but you get it.) On the other hand, would you ever dream of calling your mortgage company and telling them about your clogged toilet ? Cuz, that is what they are doing.
Owners : Solve problems : Make Money
Renters: Do Not Solve Problems: Do Not Make Money
Post: Can you use income from ADU/in law apt to help qualify for FHA?

- Investor
- Hillsboro, OR
- Posts 304
- Votes 152
Quote from @Nick H.:
Quote from @Christie Gahan:
Curious, how many lenders have you talked to?
only 1. I feel silly for not talking to more now that you say it.
Have you made an offer? Are you buying from the builder? The larger builders seem to be onboard with rate buy downs, etc. I bought a property 6 mos ago and negotiated a perm rate buy down paid for by the sellers. Locked at 5.99% Helped a lot! Initially, I asked for a 321. Then I looked at the numbers. For the same amount of money as a 321, I could just buy down a point on the loan. The sellers had agreed to pay $X for the temp buy down. We just did an amendment that said, "Oh yeah. We had to change loan programs. We want the amount we already agreed to , to go over here." It worked out.
Are you using a mortgage broker ? You might benefit from someone that reps a lot of different programs. Good Luck.
Post: Can you use income from ADU/in law apt to help qualify for FHA?

- Investor
- Hillsboro, OR
- Posts 304
- Votes 152
Quote from @Caroline Gerardo:
What is the zoning? Go look up online city planning. If zoned SFR, it's not a duplex. You state is new construction side by side but also that it's currently rented (doesn't make sense). If this is new construction there is no history of rental income so appraiser will determine the market rents and it won't be short term rents (no airbnb). If tenant occupied you want them out at closing. What is your debt to income ratio and back end ratio? Sometimes things can be adjusted if not too far off.
Post: Can you use income from ADU/in law apt to help qualify for FHA?

- Investor
- Hillsboro, OR
- Posts 304
- Votes 152
Quote from @Carlos Valencia:
Hello Nick,
If its not showing as a legal duplex then your stuck. Is it just showing as single family with like an attached in law suite? Unless they can somehow prove the in law suite is an actual separate unit then they can use it as additional income. Only other option would be co-borrower or more money down but then why use FHA right. Also removing more liabilities if possible to help qualify.
Carlos: where is it supposed to show up as a legal duplex? On the MLS? County tax records? There are a lot of non permitted additions etc in my area that manage to sell. Curious, who is checking and when? Thanks.