All Forum Posts by: Josh Cocker

Hi All!

Thank you in advance for any guidance and insight.

Quick question for you 😁 I recently purchased a duplex to house hack, this will be my first purchase, and at the moment in my W2 I withhold the maximum taxes on federal & state tax (Virginia) and I usually get cash back each year. Should I stop doing this now and quit withholding? Or just continue as usual? 

I can’t remember if I read somewhere once you own a rental it might be better to not withhold anymore as you are reducing your tax burden with the rental etc 

Thank you for any guidance or insight you have. Apologies if this is too much of a generic / person specific question but would love to hear from other people’s experience in the same position 

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Parkdale.

Purchase price: $220,000
Cash invested: $27,000

Duplex House Hack, just completed the purchase and I am in the process of renovating both side (I managed to agree both sides were vacant before I closed).

What made you interested in investing in this type of deal?

House Hack, and building the foundations of a new portfolio.

How did you find this deal and how did you negotiate it?

Off market, via an agent who had a relationship with a seller with a large portfolio

How did you finance this deal?

Traditional Mortgage Loan

How did you add value to the deal?

In the process of renovating both sides

What was the outcome?

TBC

Lessons learned? Challenges?

TBC

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes
Real Estate Agent - Chuck Eskey, Eskey & Associates
Lender - Dylon Bobo, Better Mortgage

Hi All, 

I've got my first purchase here in US under contract & just a quick question as I'd love to hear some answers from seasoned investors / lenders etc  (I am originally from UK and my experience with mortgage products and fees is very different to what i am learning here).

I am purchasing a Duplex which will be my primary residence, and looking to borrow around $200,000 - typically what will be the additional fees / cost i should expect of this loan (presuming no point buy down etc).

Thanks in advance, and apologies for asking such a basic question.

Thanks Michael, I only got one quote so far in the local area and it just seemed higher than what i was expecting (i had a similar property under contract last year that was less than half the premium).

This is only a minor thing but its my first so just trying to doing things the right way and tick the boxes.

thanks for your advice

Hello, 

Just wondering if someone can point me in the right direction to speak with someone about the insurance i will require for a Primary Residence Duplex i have under contract that ill be moving into shortly, and renting the other side out. The property is located in Southern Virginia.

Thank you in advance

Josh

Thanks Jamie! It’s definitely something I’ve been excited about as it will be a perfect house hack and the overall price is very attractive given they have both been fully renovated. 

Hopefully I can find someone to lend as a residential mortgage (I am from the UK and on a Visa so I qualify for residential mortgage but I don’t think I do for commercial lending).

Hello,

I thought i would reach out here to as I am looking to connect with a lender who can help me purchase 2 SFH properties (both the same size sq ft so not ADU) being sold together on 1 parcel of land at 1.35acres. The property is in VA and i have agreed purchase price etc and am happy with what i am purchasing.

It will be my first property purchase and I will be living in one of the property's as my primary residence and renting the other out. The houses have their own address numbers and have their own sewer, electricity, water etc. 

Thank You In Advance

Josh

That was A LOT of passion there Bruce .. I felt it  😂 Naive?! It’s my first US purchase - you expect me to be seasoned pro? That’s why I am writing this post in the first place 😂 

Noted on your points. I’ll be getting / stipulating the inspection 👍My Realtor isn’t a contractor, he worked in construction for many many years and has a decent size portfolio of rentals and owns the brokerage too, and has told me to walk away and instantly dismissed 10+ other properties we walked and toured. He is a family friend and we have even looked at some off market for sale by seller too that I identified stuff where he wouldn’t even earn a commission and he was happy to investigate for me - more of a looking out for me / family than counting a check (I am not looking for expensive real estate and he has owns the brokerage of 20+ agents, unfortunately my purchase isn’t much of a profit opportunity for the office but would probably be more embarrassing on him if we get something wrong  😂) 

Noted on the inspection though and I will stipulate it is a deal breaker on my side.

Thanks Jeyo - sounds like I know what I need to do to feel comfortable proceeding 

Thanks JD - this would make me feel more comfortable too