All Forum Posts by: Julien Jeannot

It depends. I don't mind it if the long term play goes something like this:

- Avg local appreciation over the last 10yrs: 7+%

- Avg local rent increase 7%+ YOY

In year 3 through 5, the property is well seasoned. With fix rate loan it will cash flow quite well and the equity build is well on its way to 2x.

Either way works as others have pointed out.

Its convenient to have separate meters, but the cost may not be worth it. Also consider the exit of the property. Does it make sense to sell the property with 2 meters or 1?

Either charge them for the utilities. I've got a duplex with shared water, monthly expenses doesn't move past $30/unit so I don't worry too much. It get rolled into the rent.

Welcome! You have come to the right place. Soak up all the knowledge and feel free to reach out.

My personal favorite is the duplex. I am biased, but it was my start to retired from the W2.

Congrats! A great way to start a long and successful career in REI.

The motivation is diverse and each his own. 

Some get a lot of joy and personal fulfillment in passing on knowledge. I find the older I get, the more I want to mentor and see my mentees succeed.

The more you give, the more you receive. I didn't get that one at first, but now I find opportunities arise out of blue the more I help others without expecting anything back.

Another is to market yourself as an expert.

W/$10k, not much you can do by yourself or w/o an existing property.

I'd recommend finding a deal and $ partner. Somewhat like the wholesalers out there.

If you have an existing property, a figure out what the property could use to raise rents.

If one is young with a solid job, I generally recommend a build wealth strategy through equity, rather then cash flow. Its a math problem for me. Figure out how many units you need to your cash flow target and figure out how much downpayment you need. The math quickly points to far more cash is required for a cash flow strategy then folks have on hand or in the next 5 years, even on the midwest.

House hacks are a great way to go to build equity which can then be turned into cash flow.

Easier to take $50k of equity from a househack and to BRRRR into the next deal then it is to accumulate through a $200/mo cash flowing unit.

I don't know Philly, but I can answer your third question.

If your strategy is long term, don't wait and jump in, there is always a play.

For example, when rates high, prices dip and is generally a good time to pick up a property. When the rates come down, folks who were waiting jump in raising prices and you get to refi and better your cash flow or take EQ out.

It helps, but is not required. The mindset is more important, always seek to learn from others and your mistakes. I feel its the hard way, but I managed to retire from my W2 w/o a mentor.