All Forum Posts by: Julien Jeannot

To add to the BRRR strategy and suggest looking into duplexes, triplexes, and fourplexes.

Favorable financing, easy to self manage and ability to rehab when resources allows.

I might be a bit biased on this strategy, it was my first move and a great launching point to bigger things.

Its all. about add value as well as performing the expected role of a lender. Couple of thoughts:

- Go door knocking with brokers,

- Assist with marketing and lead gen (check local laws for limitations),

-Host educational seminars with local agents,

- Call local RE offices and be their preferred lender. Typically cost $,

- Essentially be attached at the hip and help them generate more business, then do whatever it takes to make the deal happen.

Certainly possible without a W2, but also much easier with one.

Follow your criteria and due diligence from a qualification perspective. Although that seems to pass, the hiding of cash from the IRS and general breaking of rules demonstrates a certain character. Lot of wisdom from the other folks in this thread...

Stick to your criteria, lower the rent or improve the marketing  if you cannot attract a qualified tenant. 

Depends, but I'd err on making your first move and house hacking it. I feel it's most important to take the first step and figuring things out along the way especially with long horizons.

Thats how I started with a duplex which did not cash flow and 5 years later with rehabs, marketing creativity and rent increases, I kick myself for not buying the other "bad deals" in the neighborhood. Became my best performing property cash flow wise and 2x in value.

If its in a good location, you can value add with sweat equity, and raise rents every year, go for it. 

Congrats! Great job.

Definitely not in the Seattle market.

I'm curious, can you get approved for more on a duplex?

I agree with the above, it's been a long term equity play for a while now. I picked a few properties in Mill Creek, Bothell, and Everett which started with 6-8% COC. Overtime with rent raises, rehabs and leveraging the equity, they have been a great investment edging towards 20% YOY returns. Day 1 cash flow w/ 10% returns isn't the play here.

If you have looking for a pure cashflow play, I'd recommend looking into private lending with a boutique firm.

I concur, leverage the lease. Hopefully there is a clause along the lines of "peaceful enjoyment."

If unsure, contract a local PM or attorney on how to proceed or even your local tenant/landlord resources.