All Forum Posts by: Nicholas Coulter

@Matthew Chalfant it works everywhere! Let me know if you would like to set up time to go over how to run numbers to get a better feeling for your house hack!

@Sam Colangelo do you have an REI CPA? they will be able to point you in the right direction of all the things you need to do for tax purposes. In short yes declare the income. A CPA will help you write off enough expense to offset the income.

@Pepper Bradford with the size of the apartment building you are going to be qualifying for commercial financing. To the best of my knowledge you wont be able to get the same benefits as small multi family with owner occupant loans. 

@Asare Nkansah I dont think you need to. I would worry about an LLC until you are looking at 3/4 properties! You can be a sole proprietor but ask a CPA

@Annie Beauchesne I have helped a client buy a house hack! He and his wife are both travel nurses. What state are you looking into? I have a lender that he worked with that was able to really help them out!

@Renee Harris I would look into house hacking or buying small multi family with value add opportunities! I do the same thing down in SD!

@Jay Chong going to be hard with the rent control laws. I would look to raise rents 10% each time you can as the max limit is 5% + CPI up to a total of 10%. 

@Alan Fong I would do a Heloc to come with a down payment on a small multi family! House hack it to keep expenses low and get something with vlaue add potential to continue the investing process!

@Jeffrey Zhang Matt is spot on! you can go up to 10% based on CPI. Cash for keys is going to be tough since its so below market. I would partner with an Attorney and see what options you have to spike rents as fast as possible. 

@Jeffrey Magenes super interesting and thanks for the share! This might open up a lot of opportunity for house hackers in these expensive markets.