All Forum Posts by: Julien Jeannot
Julien Jeannot has started 6 posts and replied 750 times.
Post: Where to reinvest 1031 exch funds?
#4 House Hacking ContributorPosted - CPA, Real Estate Broker & Investor
- Seattle & Woodinville, WA
- Posts 757
- Votes 1,043
That would depend on my goals and strategy.
For me, its scaling up into the multi family. If there is nothing on market that will meet the timelines, then I look for SFR in good area for appreciation and that meet my return metrics.
Post: Have 100k to invest, what do I do with it
#4 House Hacking ContributorPosted - CPA, Real Estate Broker & Investor
- Seattle & Woodinville, WA
- Posts 757
- Votes 1,043
I'd start by bridging your retirement goals to 3 to 5 years from now then backing into the solution.
Based on what you have, house hack the most units you can.
Post: Paying Rent to Ourselves
#4 House Hacking ContributorPosted - CPA, Real Estate Broker & Investor
- Seattle & Woodinville, WA
- Posts 757
- Votes 1,043
Go talk to your CPA. You have to take your entire tax picture as well as your goals in mind when making these type of question, only someone who can see all the other pieces of your puzzle can advise you.
Post: Is it worth it??? (First Time Homebuyer)
#4 House Hacking ContributorPosted - CPA, Real Estate Broker & Investor
- Seattle & Woodinville, WA
- Posts 757
- Votes 1,043
Househack all the way! That's how I got started to eventually have the choice to leave my W2.
Post: Living for free thanks to House-Hacking my home into a tri-plex
#4 House Hacking ContributorPosted - CPA, Real Estate Broker & Investor
- Seattle & Woodinville, WA
- Posts 757
- Votes 1,043
Well done! Once you get over the hump of your first one, things get a lot easier.
Post: In escrow and getting really cold feet
#4 House Hacking ContributorPosted - CPA, Real Estate Broker & Investor
- Seattle & Woodinville, WA
- Posts 757
- Votes 1,043
1. If you are concerned about losing your earnest $ and truly want to back out, talk to your agent. If no agent, get to know better the contingencies in your contract.
2. Sounds like a good deal, what's holding you back?
Post: How are people scaling so fast?
#4 House Hacking ContributorPosted - CPA, Real Estate Broker & Investor
- Seattle & Woodinville, WA
- Posts 757
- Votes 1,043
Quote from @Account Closed:
Quote from @Grant Stuard:
I have listened to some podcasts, and have heard people saying they got their first 7 properties in 11 months. Some even crazier. I have 5 properties, but I have used all my money to purchase these properties at 25% down and now I am renting them out. I would like to have 30 rentals (that is my goal) and I have the deals. I just don't have the capital to move all at once. I know there is private money lending that can fund some of these new construction deals, but I don't want to sell them for profit after. I want to keep them as rentals. Are there lenders that would let me pay them like a traditional mortgage? (over that long period of time)? What do you guys think I can do to get 3 properties a month?
There are three ways to accomplish acquiring real estate faster than most people. 1. Start off with a lot of money. or 2. Buy fractional shares (invest in syndications like an apartment building that has say 100 units and now, viola' they have "100 doors" whereas that actually menas they own just own a hinge on each door but you get what I mean or 3. Using creative finance like Seller financing, Subject To, Lease Options, Land Contracts which is how I teach it and how I did it. Most of the properties I was into totally for under $15,000 didn't need a bank or credit check and no down payment. But, I did need some knowledge.
Spot on. I've seen plenty of new syndicators using the fractional shares to prop up their credibility.
Trust, but verify everything.
Post: is my rate good?
#4 House Hacking ContributorPosted - CPA, Real Estate Broker & Investor
- Seattle & Woodinville, WA
- Posts 757
- Votes 1,043
Shop it around, be sure you are comparing apples to apples, there a ton of other fees that needs to be considered.
Post: Point Pleasant House Hack
#4 House Hacking ContributorPosted - CPA, Real Estate Broker & Investor
- Seattle & Woodinville, WA
- Posts 757
- Votes 1,043
Well done! Love the negotiation to help out with the repairs.
Post: Recent issues with mortgage broker
#4 House Hacking ContributorPosted - CPA, Real Estate Broker & Investor
- Seattle & Woodinville, WA
- Posts 757
- Votes 1,043
Quote from @Leonard Rybak:
Quote from @Russell Brazil:
The main thing to ask yourself here is the loan officer too slow to respond, or do you have unrealistic expectations? Are you expecting them to respond to you in 1 hour, or 48 hours?
Well that's the thing. I am sort of new to this with 4 single family rentals under my belt (atleast I feel new), so I feel my expectations are realistic, although they may be different from others. But yes I do feel I would like responses within an hour . lol
In that case, have a talk with the broker and set the expectations. You want to ensure alignment.
If the broker does not want to meet your expectations, then move on. I would also recommend using a RE agent and lender "team." My lenders bends over backwards for my clients due to our relationship and alignment on what we expect from each other.