All Forum Posts by: Kevin Phu

Since @Will F. revived an old thread, I'll jump in with a question too! :D What should I use to track an owner occupied SFR house hack? Should be pretty simple so maybe excel? Are there any free basic programs?

@Ryan Dressel could you post a picture? I'm having a hard time picturing this in my head... :/

Another idea came to mind...lot split. Researching now!

 Good point. What if I were to lease it out as say...an office or work space? Would that potentially bleed into a commercial thing? This entire lot can be accessed by front and back. Both accesses are actual roads and not alleys. So my thinking is it could be used for a personal office and pretty much have its own access. Of course, back to the previous concern, would that involve some type of commercial permit....

If you have to create multiple reports to "convince" your agent on your price, that means there is no trust. If I were to run numbers and show those exact numbers, it shouldn't matter whether my agent agrees or not. They are not the ones buying the property. I am. Their job is to take my justifications to present to the seller why I am willing to offer a certain amount. 

I just recently started working with my agent but I trust her and she hasn't done anything to lose that trust. I had concerns on certain things on a recent offer/property and when I brought them up, she had already seen that it would be a red flag for me and took care of it already. That's because she understands my goals and intent and is able act accordingly in my best interest. 

The second you have to start hiding things and deceiving your OWN agent, is probably time you should start looking for another agent you can trust or evaluate if you are being paranoid.

So I was driving around a neighborhood of interest today when I happened to see signs for an open house of a property that I was interested in. Turns out the open house was last minute as the buyer backed out of the accepted offer yesterday. Agent says they don't know exact reason why. Agent at open house isn't the seller's actual agent I believe so couldn't get too many details out of him. 

In the backyard there is a unpermitted unit. I would estimate about 400 sq ft. Has a full bath and kitchen counter/hook ups. 

What are some things I should consider with things like this? Previous owner had rented that unit out before. Current owner just uses it for storage.

@Ian Savage How are you supposed to know how much to put down for the EMD if they don't mention it in their listing or before hand? Sounds like a crabby agent/seller. If the property seems like a good enough deal, maybe you could consider putting down the 5% they request and move past their unprofessionalism? IMO you did nothing wrong.

@Bryan O. Thank you for your insight and advice! As you may have seen in my update, I have backed out of this deal as the seller wanted me to up my purchase price again last minute and to cover repair costs. The move out numbers I agree are a bit tight but that I didn't factor in any major improvements that I would make during the the time I lived there.

Anyways, I appreciate your reply and will continue formulating my plan!

@Dylan Tettemer, you'll find lots of great advice here on BP! @Kerry Baird is spot on in my opinion. Continue learning and solidify your plan in the mean time. Don't forget to enjoy Japan! I was stationed in Yokosuka for a year and it was one of the best years of my life!

@Alan Sue and Dylan, I will be in Yokosuka for a few weeks at the end of August. We should all meet up! Antenna America in Yokohama is a great spot if you've never been btw!