All Forum Posts by: Nicholas Coulter

I am in the smaller studio JADU with my wife. We STR the main 4/2. We will move into the 2/2 and rent out the studio likely to a family friend.
We have been using the HH/STR strategy 

@Nima Rezvani do you currently have a REI friendly CPA?

Ian my guy building out my strategy for financing meow. Hit me up so we can compare notes. 

@Daniel Uckun I dont see why you wouldnt start in your backyard. the higher sales prices likely end up with you getting a larger amount per deal. The question I would ask is which neighborhoods? I live in NP and walk a lot and see many properties with wholesale potential.

If you can be successful in the watch business my guess is those behaviors are not binary and will carry over.

@Namal Burman I can suggest a great CPA who specializes in REI clients. On the next steps you have hit a lot of peoples dreams. I would agree with the above advice of looking to but this thing as close to auto pilot as possible. With the additional cash coming in maybe the next journey for you is figuring out how to diversify in another asset? Maybe the market? maybe something different that you enjoy. Cheers to being in a great place!

Hey Katie havent come across any but do have some builder contacts if you need any!

@James Lee I am building out a 2/2 1k Sq ft ADU currently near your place in NP. I would say it depends on if the property is a pain and what your long term goals are. My wife and I plan on living in our 2/2 while renting out the other 2 units onsite. Then selling with the equity built up to move into a longer term live in flip strategy. I would say the next moves you want to make are a better predictor of your next steps.

@Ted Bozoukov BP has what youre looking for. I have downloaded their leases and the check in check out form was super detailed. Youll need to retool it to make sense for you but thats easy enough! Word of advice have this either scanned as a PDF post use or figure out a way to do electronic fill out. I have lost one in the past and it was a total pain in the butt when the tenant moved out...

@Deepak C. I live down the road from one of Andy Eakes rentals and he has some of the best Tenants on the block! I would sugget giving him a call if you already havent!

 Hey I am currently going through this process and I can give you some pointers on assessing the future value of the build. The tricky thing will be looking at the closed comps in your are and if there are ones to use. Appraisers sometimes have issues finding comps in the area that match your new comp because Adus can be so unique.