All Forum Posts by: Derrick Dill

Get a home inspection on the property (this is pretty standard). The inspector will inspect everything and will tell you what to expect.

There are several deal-finder tools here on BP you can use to calculate

I'm big on leverage so this might not be for you but..

Depending how much your primary has appreciated, I'd take out a HELOC.

Use HELOC to fund the duplex house-hack you mentioned, then rent out your current primary.

Depends on several variables of course and how comfortable you are with your finances, but that is what I would do.

You can do 1 JADU and 1 Adu. Ex. Convert the garage for the JADU, add a traditional ADU in the backyard for the ADU.

You'll have to check with HOA IF they'll allow you to add a kitchen or anything in the other unit.

If not, I would do your best make-shift kitchen as you could with a hot-plate, microwave, etc. Would settle for a 6month to 1 year tenant in the interim until you can see if it's possible to do short-term tenants in the long term.

1. Why do you need to buy houses that are at the average home price? If you're target is cash flow, check out Ohio, memphis, etc. Buy houses for 100k that meet your criteria.

2. I did a quick redfin search, and you can get a duplex for 400k (2/1, 2/1) https://www.redfin.com/TX/Aust...

You can use a FHA 3.5% down loan. You're looking at about 25k, all-in including closing costs (off top of my head). If it's still too expensive, go to a nearby town that is not as expensive that you're willing to commute from. You want the cash-flow? might have to make sacrifices.

If it's close to a year, his lease is probably up then. Send him notice you don't plan to re-new his lease. Get a better tenant

Been seeing the opposite here in California. Traffic is picking up again. Everybody is going back to work. Was nice while it lasted

I would look for better cash flow if possible. Negative cash flow means less leverage available to you, more against your DTI. I just bought a property in bay area for 900k that cash flows. They're out there

Nobody knows what percentage of taxes you'll be paying in 10 years. One thing I can tell you for sure is Biden won't be president and we'll be dealing with some other tax laws that are in place regarding this situation.

It's a proposal. Nothing is set in stone. Chances are high that the proposal is heavily changed from it's current form.

Of course. These are cash offers. Happen all the time