All Forum Posts by: Julien Jeannot

@Carlos Ptriawan

A lot of states and cities are adopting the "middle housing" options to push higher density and alleviate the supply issue. WA state recently passed legislation which all cities have to have in place by 2025.

Think ADU, DADU, 2-4 units on SFR zoned lots.

@Tychua G.

I'd combine option 1 & 2 and house hack a multi family 2-4 units.

That's how I started and it worked out wonderfully. You get all the benefits of the two options.

@Rick Albert

That would depend on her goals and how much risk she is willing to take on. Once that is figured out, work your way backwards to the the strategy and appropriate asset call.

@Coban Scott

House hacking is how I get started and left the corporate world behind.

1. Talk to a lender about financing.

2. Jump in and don't bite more of a project they you feel comfortable. 

@Kristine Thompson

Tough call. 

How do the HOA's reserve look like? Can they absorb a litigation and another capital intensive project on top of scheduled R&M?

Personally, I'm done with HOAs. They can be a great entry point into REI, but learned the hard way assessments are part of life and need to budgeted for in your estimates.

@Ryker Valk

As far as advise:

- House hack, the more units the better

- Start networking in the local REI groups.

@Jordan B.

Depends on the the strategy and goals I'm looking to achieve.

- Cash flow

- Equity builds

- Speculative

I find a single metric or box is quite limiting especially when looking for the best of everything. I go for base hits all day long and its worked out well so far. Remember, pro-formas are imaginary numbers, I've never had actual performance meet the exceptions of my plans.

@Robert Davis

I would looks at 2 items to see what you can do:

1. The terms of the lease

2. You local ordinances.

@Henry T. Seattle and Washington state in general is not the most pleasant place to do business. I wish we could do 30 days notice.

@Naya Marquez

Curious on your preference on banks? 

I've always used a broker/lender because they are access to more products which would fit my strategy.

HELOCS, I do shop banks.

@Quinell Dixon

I'm biased towards buying and house hacking duplexes/ADU/DADUs, so I would recommend to play out the numbers over that 5 to 7 year period.

Take into account:

- Yearly rent increases

- 3% to 5% expense inflation

- A conservative yearly appreciation in the area

- Principle pay down

- Bonus, if the rates drop to mid 5% or 6% what the refi will do to cash flow.