All Forum Posts by: Phil Wells

Entirely possible - this is actually very common though you see it more with spouses.

If this is purely an investment you'd be wise to seek legal advice on a partnership agreement or LLC articles.

Take a step back and realize that you’ve done more than 99% will ever do when it comes to real estate. 

That being said it’s worth understanding what’s working locally as your next step varies jurisdiction to jurisdiction. I’d be happy to connect and go over what I see my clients doing and what’s working, and what strategies are dead ends here. 

Welcome! Have you got past the hurdle of the first investment yet? If so what did you get? 

I’m in that market, I specialize in this sort of thing, I’m happy to give you my 2 cents. Feel free to reach out.

I'm currently living in a live-in-flip property that was seller financed, really useful when you max out your DTI from a lenders perspective. There are out there. What's your overall strategy? Flip, house hack, buy and hold?

House hack and give her the reigns managing the other unit(s). 

If she wants to manage in WA for others she'll need a real estate license. She can work at one of the big companies here in town for some experience or set up shop on her own. 

Pick your niche and stick to it. I see too many new investors want to house hack, but also brrrr, but also flip, and maybe an air bnb in there too. They usually end up doing nothing. 

Master one strategy and run with it. There’s riches in the niches. 

Not legal advice, you do you.

Hey Heather! House hacking is the way to go, easily one of the best ways to kickstart your REI journey.

CDA is cracking down on STRs in a big way. Check out this article. https://www.krem.com/article/m...

Prices are down across the board. You might find a regular long term rental that actually cash flows if you can't find a STR.

Self manage until you have enough units to get some economies of scale. That property management fee can wipe out your cash flow entirely.