All Forum Posts by: Michael Haas

Aloha Cody - Our team of 12 investor-agents bats around the idea of brining on interns for some sort of 50% learning 50% work role. We're in South Seattle - let me know if you'd be interested in talking more about that. 

Happy to answer questions or grab a coffee sometime too - I'll shoot you a message with my info :)

Sounds like a good business idea @Stacy Edwards - A lot of municipalities are requiring that a local person be withing 30 min - an hour away for emergencies. For out of state or out of county investors even just being able to put your name down as the "local person" on their permit holds value.

Sounds like the primary goal is to keep it in the family - if you're getting it with $200k - $300k of instant equity and your goal is to keep it in the family why do you need a massive 15-20% CoC return? At 20% down that would be a lot of cashflow on a million dollar property.

I'd buy it. It won't hit 20% CoC but it might hit 4-10% CoC and you're building a family legacy. Plus, Seller Financing :).

Send me a DM if you want Mashvisor reports - I pay for all the premium data sources and am happy to share them. Cheers!

Congrats on the deal Jay - hope it works out well for you!

My wife @Jess Haas is a reformed Civil Engineer. She's joined the dark side now, Full Time Realtor / Real Estate Investor :). 

I'm not an engineer, but an analytical mind and patience definitely help in this business - two traits that most engineers seem to have.

Great question - our experience has been that a DADU has to be built as an accessory structure to a home. Our experience is that you may need a existing SFH or approved building plans from the city for the SFH. However, you can also build a SFH that meets DADU qualifications as a SFH, and convert it to a DADU later.

I'd love to hear a little bit more about your goals, and what you're trying to accomplish - I think I could give better advice after knowing where you're trying to go with this.

@Carlos Villegas - wow, sounds like there's a lot of misinformation out there on the VA loan if you're getting different answers. A VA approved lender would be the best source of info on this - I'll message you the info of one I love. A quick rundown though:

1. Owner occupancy requirement is 1 year, but thats flexible if you get deployed or have another change

2. Doesn't have to be your first home. Your "Entitlement" can be recycled infinite times by refinancing the property into conventional, then reusing the VA loan.

Hey @Sailin Li - I agree with the strategy, although cabin prices have risen significantly your money can still go much farther if you focus on STR's. I sold the Ashford Lodge & other properties and Packwood and Ranier as STR's, and think those markets are just undervalued and under-discovered enough to have a good run of appreciation and increased rents ahead of them. Happy to talk more, and connect you with the community of STR investors in Ashford (Ashford Lodge, the Millards Cabins folks, etc. are young and passionate STR owners that are revitalizing that community!)

Hey John - thanks for your service and sacrifice man! @Daniel Nobile would be a great resource for you to connect with, especially if you're looking to take advantage of your VA entitlement but keep the property price reasonable - Dan's done exactly that with his 2 bedroom property.

@Matthew Harris everyone runs numbers differently, so take this with a grain of salt :). 2 recommendations for you:

1. Not a lot of new builds are selling for just $900k, especially new builds that are environmentally friendly or have some other unique features. What if you target a higher exit price (like $1.2 mil). How does that affect your calcs?

2. Profit may be a little high for where we are in the market - we are conservative and target 15-18% profit after all fees. Often real profit exceeds this because we don't assume any appreciation between purchase and resale, and of course our market can appreciate a lot in 6-8 months :).

Always happy to chat more. Sounds like a cool project!