All Forum Posts by: Sharon Ho

Hello! Out of curiosity, what has been your biggest rehab cost to date? Was this expected/unexpected? What kind of things needed fixin'?! :)

@AJ Leman @Mark Reiland @Jared Husmann Thank you all so much for the warm welcome! I'm eager to learn and will keep your advice in mind! 

AJ & Mark, I was wondering if you had any referrals for CPAs or financial advisors in the area. I'm just starting out and would love to ask some questions / get some direction. :) Thanks! 

Jared, I'll definitely keep your I-380 tip in mind! Perhaps my second purchase! Currently looking for a good house hacking deal in IC. :) Thank you!

Hello! I'm new to the BP forums and am absorbing tons of great information here. I'd love to connect with others in my area and build a team here in IC/Coralville. I'm planning to start out with house hacking a single family before diving into other strategies! Looking for referrals for a financial advisor, CPA, and investment real estate broker advisor! Grateful for any help or recommendations! Thank you very much in advance! 

@Tony Robinson Thank you for sharing your success story in such a digestible way!! One of the consistent advice I've seen given on BP is building your success team or support network (financial advisor, CPA, investment real estate broker, personal banker, etc). How did you build yours? :) Are you mostly based in the same location/state? Thanks!

@Chris Thomas Hey Chris! I recently moved to Iowa City 6 months ago and am looking to find a property to house hack. Possibly after the current situation with covid, but I'm researching the possibilities now. Did you find a good property, and how has it been?! :) 

The house was built in 1959, but I believe the previous home owners added to the house, so I'm not sure how that works. Apparently, someone comes to inspect the rental property every 4 years! They saw beds in there twice, hence the strict warnings. :( 

Yup, surprised me too! It seems like they inspect this property every 4 years.

@Connor Duff This isn't an answer to your question, but a question of my own. Do you plan on saving a set amount each month regardless of how much is in your cash reserves? I'm looking to house hack this year or early next year. My plan is to put some initial funds in there and then contribute lower monthly amounts, but I'm wondering if I should also cap the total amount of money I put in there. If anyone else has some input - If the property is in solid shape with low vacancy rate, how much would be too much in a cash reserve when that money can instead be put towards earning money elsewhere? 

YUP, there's a sizable closet with racks built into the finished attic storage. I'm pretty sure they did finish it as a bedroom and that it was used as a bedroom. But, they have also gotten two warnings in 4 years so I don't plan on using it as a bedroom OR I hope to make it into a bedroom and increase profits.

The door actually has a lock on it already since someone had previously used it as a bedroom! But I like this idea too - keep it simple and off limits. (But the potential! lol) This method does sound easy and stress-free!