All Forum Posts by: Julien Jeannot

Hey @Alex Tsang!

Great strategy, I've used it myself. I strongly recommend shopping around for HELOC rates and terms. I've used BECU and WAFED in the past.

I agree with @Michael Baum. Looks for vacation destination like Ocean Shore or a unique property: on the water, fantastic view, close to activities ect.

Welcome Patrick!

Sounds like a situation very similar to my first investment property. The house hacking of a duplex is my personal favorite strategy to start a REI portfolio. Sounds like when both units are rehabbed and rented, the cash flow will be positive.

I love the love term horizon, especially in WA state where equity appreciation runs high. Play out the local year over year appreciation build, and the rent increases. I bet 5yrs down the road the property will cash flow quite nicely and have a huge amount of equity built in.

Anything you can do to systematize rent collection, charging fees, and other management items would be best.

I use apartment.com, used to be cozy.

I agree with the rest of the folks here. Hire an attorney and start the eviction process right away.

It's always a good time to buy. If I had applied all the "rules" and listened to all the experts, I would had never bough my first duplex. Apparently I overpaid for it, the cash flow was dismal, it was in a suboptimal area, and the list of reasons kept going.

Fast forward 5 years, cash flow is up 100% and equity 2x. What I learned is that its better to get started and figure it out along the way. Work with an experienced broker with who invests, put in the work and it is likely to succeed.

Better buy an ok deal then sit on the sidelines for years awaiting for the unicorn.

Interesting, I didn't expect Everett WA to be a top contender.

Thanks for sharing!

I'm curious, what drives the economy in Wenatchee?