All Forum Posts by: Christopher Morris

I listened to everyone here on BiggerPockets and didn’t “time the market” in regard to the higher interest rates.

I closed on a house hack a few months ago with the SAME EXACT rate. I do not regret it for a second! If you're doing it right. Your tenants will be paying most of the PITI.

Good luck!

Thank you, this was motivating! 

Hello BP! 

After being fully “leased up” on my first multifamily property, I’m thinking about my next one. 

There’s two strategies that are running through my head. 

First: buy another multifamily property and FHA (or 5% owner occupied conventional) again, house hacking it for max rents.

Or

Second: buy a single-family fixer upper (400-500k) home, live in it for 2 years and either sell it to avoid capital gains tax or rent it out. 

Things to note: my S.O. is pretty against house hacking (but willing to do it for a year). I live in NJ so housing prices are fairly high. I anticipate having around 100k in liquid cash for time of next purchase. 

Ideally, I’d love to house hack again for a year, then purchase a single family after a year to eventually sell or rent out. Just not sure if I am able to do all over that in NJ over a 2-3 year period with my cash on hand. 

Not exactly sure where I’d sit from a cash out refinance standpoint but it’s a thought. 

After this, I’d love to get into long distance investing / airbnbs. But that’s a convo for another day…

Let me know if I’m off on my thinking here BP!

Hello BP, 

I’m a newbie investor and I’m a believer to never be the smartest person in the room… 

So I ask you all: what are newbie mistakes in Multifamily investing you typically see or have encountered yourself? How can these be avoided? 

Let me know BP! 

Thank you for the great info!

Hello BP,

I'm just learning about 100% bonus depreciation and how Trump pays no taxes… who qualifies for that? Does the property need to have an LLC in place? Does it matter that I purchased with an FHA loan? Do you have to be a "real estate professional" to qualify?

Any advice would help! Thank you 

Hello BP, 

Any suggestions on a split unit ac / heat window unit? I have an attic that is finished but has no heat or AC. Not trying to spend an arm and leg on this... Any recommendations would be helpful! Thanks 

That is some great info, thanks!

Hello BP, 

I just started looking for 1 year lease tenants in my duplex over in Northern NJ. It’s been a few weeks of my first unit on the market but I am confident I can find a quality tenant. 

But when talking to my neighbor who owns a few similar properties… he swears by Airbnb. That’s definitely something I want to get into, but never thought I’d be able to do that in my first property. 

BP, what would you do? Is it odd to have one unit be a year lease and the other unit Airbnb? Would you dive right into BnB with your first deal? I’ve done very little research on what it takes to furnish / maintain a Airbnb property but I imagine it’s not the easiest. 

Would love some advice, thanks!