All Forum Posts by: Julien Jeannot

@Joshua Posada

I'd start with a vision first. What are you looking to accomplish with apartment buildings?

What does that look like?
- Time horizon

- Cash flow vs Equity vs hybrid

- Passive or involved?

- Value add or turn key?

- Risk tolerance?

- Local or out of state?

- Solo or JV?

@Ceasar Rosas

I've used foremost when I had properties in TN.

@Sabrina Dagostino

I'd househack the biggest multi I could find up to 4 units. 

@Matthew McManus

Both options can work. 

1. Figure out your end goal first, then work your way backwards to today.

  -Assess risk tolerance

  -Assess level of involvement, time, and cost requirement to rehab

2. Play out the numbers in each scenario over 2-5 years. Don't forget the holding cost in the build option.

3. Don't worry about the 1031x prior to acquisition in this case. I doubt you will have enough equity in 12 mo to worry about diffing capital gains on a house hack after selling costs.

@Luis J.

- Trust, but verify the PM's story. Talk to other investors and PMs.

- Lower the rent

- Assess pricing strategy. Are utilities included in the or charged separately? For example you can list the rent price w/o utilities which will attract more eyeballs and have the utilities as an add on.

@Brittany Farrell

For short term cash flow, I'd recommend debt funds or syndications. In the REI game, unless you put in the time and effort to find unicorn deals, cash flow comes in year 3 to 5.

@Edris Ansary

I don't really have a top 5. They all pretty much tell you the same thing, the personal story changes depending on the author.

@Maxwell Anyimah-mensah

Here is a few to get your creativity flowing:

1. Rent and Bills: a. Define each roommate's share of rent and utility bills. b. Specify the due date for rent and bills. c. Outline consequences for late payments.
2. Security Deposit: a. Clarify the amount of the security deposit. b. Specify conditions under which the deposit may be withheld.
3. Guest Policy: a. Set guidelines for overnight guests. b. Determine how long guests can stay.
4. Quiet Hours: a. Establish quiet hours during which noise should be minimized.
5. Cleaning Responsibilities: a. Define each roommate's cleaning responsibilities. b. Specify a cleaning schedule for shared spaces.
6. Personal Belongings: a. Clearly outline personal space boundaries. b. Establish rules regarding borrowing personal items.
7. Groceries and Shared Items: a. Decide on a system for sharing groceries. b. Specify shared items and their maintenance.
8. Communication: a. Establish effective communication methods. b. Discuss how to address conflicts or concerns.
9. Use of Common Areas: a. Set guidelines for the use of shared spaces. b. Address any restrictions on certain activities.
10. Utilities: a. Determine how utility costs will be split. b. Establish energy-saving practices.
11. Internet and Cable: a. Decide on the level of service and how costs will be divided.
12. Smoking and Alcohol: a. Set rules for smoking and drinking within the living space.
13. Pets: a. Discuss whether pets are allowed and if so, what kind and how many. b. Outline pet care responsibilities.
14. Mail and Packages: a. Determine how mail and packages will be handled.
15. Appliances and Equipment: a. Discuss rules for using shared appliances and equipment.
16. Temperature Control: a. Set guidelines for adjusting the thermostat.
17. Personal Space and Privacy: a. Respect each other's personal space and privacy. b. Establish rules for entering each other's rooms.
18. Storage: a. Decide on storage space allocation.
19. Emergency Procedures: a. Outline emergency procedures and contact information.
20. Maintenance and Repairs: a. Establish responsibilities for maintenance and repairs. b. Determine how costs will be shared.
21. Trash and Recycling: a. Set guidelines for trash disposal and recycling.
22. Safety and Security: a. Discuss safety measures within the living space. b. Outline security practices.
23. Apartment Access: a. Specify rules for sharing keys and access to the apartment.
24. Social Events: a. Establish guidelines for hosting social events.
25. Holidays and Special Occasions: a. Discuss plans for holidays and special occasions.
26. Laundry: a. Set a schedule for using shared laundry facilities.
27. Internet Usage: a. Establish guidelines for internet usage and sharing bandwidth.
28. Dishwashing: a. Decide on a system for washing and putting away dishes.
29. Grocery Shopping: a. Determine how grocery shopping will be handled.
30. Respect for Differences: a. Encourage respect for each other's cultural, religious, and lifestyle differences.
31. Use of Personal Items: a. Discuss rules for borrowing or using each other's personal items.
32. Study and Work Spaces: a. Set guidelines for using shared study or work spaces.
33. Sustainability Practices: a. Discuss and agree on sustainability practices within the living space.
34. Weekend Quiet Time: a. Establish quiet hours or downtime during weekends.
35. Rotating Chores: a. Implement a system for rotating chores.
36. Decorating and Personalization: a. Discuss rules for decorating and personalizing shared spaces.
37. Fitness Equipment: a. Set guidelines for using shared fitness equipment.
38. Insurance: a. Discuss the need for renter's insurance and responsibilities.
39. Expiry of Agreement: a. Determine the length of the agreement and whether it will be renewed.
40. Consequences for Violations: a. Outline consequences for violating the roommate agreement.

20% at Pottery Barn

@Joe Paul

Sounds like all you need is to tell them you plan on occupying the home. I don't think they care about the house hack.

I'm assuming they are looking to confirm you plan to live in the property for at least 1 year for their owner occupied loan & rate.