All Forum Posts by: Drew Sing

@Dell J. simply living/using a van part-time while exploring new parts of the country and buying and rehabbing a property. Here's an article on BRRRR. https://www.biggerpockets.com/...

Certain towns are thriving and appreciating in value tremendously due to remote work, spaciousness, and the quality of life they provide. 

But the U.S. is vast. There are plenty of towns with potential for people looking to move out of urban areas, but not looking to pay Bend, OR or Colorado Springs, CO home prices. 

I'm talking about locations that could be attractive to young families/artists/hipster types looking for a simpler, community-minded lifestyle. For example, this yogi dog owning millennial is rehabbing a home in Wheeling, WV. Places with SFH home values of 200k or less that have had factory jobs shipped overseas, or have been too rural to consider settling in.

What sleepy or rural towns do you think could be poised for revitalization for the new world we live in?

PS: This is a selfish post. For fun, I follow @cheapoldhouses on Instagram. They post charming old homes under 100k from all over the U.S. I recently outfitted a van and have a fully-remote job. I've been tinkering with a vanlife BRRRR adventure in an entirely new place (as long as the numbers work and there's a small friendly coffee shop, that's all I'd need :-). May be a silly idea, but hopefully a fun post nonetheless.

Hi BP, 

In 2019, I converted the SFH I live in into a 2 unit multi-family home. I now live in the 2 bedroom basement unit with one renter of the other basement room. I rent out the main house as well.

I am considering refinancing to complete my BRRRR and have a few basic questions:

- Do you need to physically be there for the appraisal? I am currently away from the home during COVID-19 temporarily. 
- Should the home be empty or occupied for the appraisal? Being rented is important for appraisal values I believe? If occupied, will the tenant's "neatness" impact the appraisal value?
- Do they need to do a home inspection/go inside the home? Especially since I bought it as a SFH, and it's now legally been converted to a 2 Unit multi-family.

Thanks so much everyone, 
Drew

Hi @Colleen F. 

Workaway and HelpX are platform where travelers can contact hosts who have profiles for travelers to stay. I receive about 5 message requests a week to stay and help out, but only accept maybe 10% based on their experience, timing, etc. That's what I mean by "I don't accept anyone who pings me". Definitely could have been more clear on that. Thanks!

Thanks for the feedback everyone @Joseph M. @Marcia Maynard @Spencer Coday. 

@Joseph - Yes, I'd have a backlog of tasks on Google Keep, and based on priority, would then write the top ones on a piece of paper and review with the Workawayers in the morning to ensure everyone was clear on the things we'd be doing. Sometimes I'd assign tasks based on skill levels. To ensure everyone was happy and comfortable with the work at hand, I'd always talk to people before they arrived to make sure their expectations were set on the stay. I did not have any issues with people slacking off. If anything, people went above and beyond and exceeded my expectations because they enjoyed learning/doing these things and were clear on things. Note: I did not expect perfect results as they're not pros. 

It's important to note I don't accept anyone who pings me on the platform - I only accept people who seem enthusiastic and have background/want to learn basic skills (eg. painting). We'd normally do 5 hours a day from morning to early afternoon, so there was a bit of routine. 

Tasks I'd assign are low risk, such as painting, clean-up, tiling, etc. As we all know, so much of the work is clean up and prep. Anything with any remote risk, I'd do, but they may spot/assist m. Just like airbnb where there's a trust factor, these workaway sites work in a similar fashion, but I'd make sure people have travelers insurance before arriving.

Again, it's about the experience for both sites, and there were many hours spent playing board games, hiking, and ensuring it wasn't just a labor transaction, but a friendship that'll last too. 

Not in spite of these people, but more an overall insurance I also have umbrella insurance.  

Hey BP Community, 

I've been using a travel work exchange site for labor help on my live-in flip, and thought others here would be interested as it has reduced my labor costs to zero on some of my projects, so I wrote about it in detail here: The free and fulfilling way to fix up your home: Workaway and HelpX

More importantly, Workaway has provided a fulfilling experience for me and those I've hosted. It can be intimating and lonely rehabbing your first home, so if you're househacking, have the extra room, and enjoy international company, this could be a win-win. 

This is not a site to be taken advantage of, so if you consider hosting, do be fair and show them a memorable experience if you decide to consider this unique channel of assistance. More about that in the article. 

Cheers,
Drew

Hi @Haley B.

I'm working on my first real estate investment in WA right now, a BRRRR in Bremerton, WA. A SFH runs for around 240k. I've seen duplexes in high 200Ks.

It's across the water from Seattle, and a 30 min pedestrian ferry ride to downtown Seattle as of last year. Two more fast ferries have been purchased for the route, and commuters for Seattle are now scoping it out. There's also a 1 hour ferry for cars and people to Seattle that's been running forever.
  

Traditionally, it's been a sleepy Navy town with a bit of crime, but that's beginning to change. There's an up and coming downtown, and Olympic Mountain hiking nearby. 

PS: I'm a digital marketer in tech as well who's been working in the Bay Area, but grew up in Puget Sound (feel free to connect! - I assume you are working remote, which is great for opening up real estate locations). You can learn more about my first investment here: vagabuilding.com/bremerton-remodel-brrrr-project/

Hi @Joel Nobles, 

I originally was looking in the Seattle outskirts as well, but have purchased a 5 bedroom BRRRR in Bremerton instead I'm currently remodeling.

I recommend learning about Bremerton's new 30 min fast ferry to downtown Seattle. They have 1 boat running since last July, and just purchased 2 more for the route next year. 

Homes here are 3x cheaper than Seattle and there's a solid existing rental market with the Navy base. 

Here's a post I wrote about investing in Bremerton: vagabuilding.com/affordable-places-to-live-around-seattle-bremerton/

Thanks, 
Drew

Hi @Jason Nguyen and @Marylin OShea, 

I was curious if either of you two had updates on your projects. I'm in a similar situation with a 900 sq foot basement in a 5 bed 1 bath home that is unused and could be converted. Where have you two landed on your projects?

Thanks, 

Drew

Hey @Mario F.

Was curious - What updates do you have since last posting? Been a few months and interested in learning about your experience. Thanks!