All Forum Posts by: Will Gates

send info to ironwillgates @ gmail . com please?

It may even be possible to create a 3rd bedroom and create living room/3rd bedroom closets, and make the kitchen an eat in area.  We need to get all dimensions and figure out what's load bearing and what isn't, but that would be huge value if we could do it. 

What if we made the master bedroom smaller to open up the kitchen, made the bathroom a combined bathroom/laundry room, created a closet for the master from the second bedroom, and added a closet in the dining room? 

@Jaysen Medhurst, Yes, the little thing next to the bathroom door is the washer and dryer area. Something like either of these? Before doing any of this, we'd obviously have to make sure none of the walls are load bearing.

I like the criteria that @Jessica G. mentioned. non married people 3x rent individually. That makes it so in case there's a break up or whatever the case may be, that whoever stays in the house can still cover rent. 

Hey BP! My wife and I are looking at a possible duplex (ideally to househack the smaller unit). This is a rough sketch of the layout, not accurate to scale but pretty close... 

The bottom unit (in the sketch) has a weird layout for the kitchen and laundry. Currently only has access to bathroom via the bedroom. There's a crawl space underneath the house so it may be possible to add a second bathroom in the Dining room area of the bottom unit of the sketch. Would it be wise to try to add a small bathroom in the dining room area? Also.. what about the long, narrow kitchen... the stove/oven is currently on the wall next to the bathroom.... any thoughts on how we could go about making the kitchen a little better?

We're just looking for any ideas or thoughts before we move forward with an offer, etc., so we can get a good idea of a game plan if we decided to proceed.

Thanks!

@Jess White . I think you'll get a mixed bag of answers from others. If you're comfortable with the stock market and you understand it, then it may be a worthwhile opportunity. If you're already involved with REI, then you're familiar with risk, and there will be risk in the stock market, too. Looking forward to others chiming in to get their thoughts!

I'm loving this thread. It's inspiring!

I'm still new to REI and looking to grow, so by no means am I an expert yet.. I only have 2 rental properties at the moment with a third under contract.

I'd imagine diversification looks like having different types of deals - Multi-family, single family, partner deals where you may split risk, etc... 

Then I've also read that it could be considered diversification if you end up changing up markets once you've got your feet wet (at least 5-10 rentals in one area) to help balance any risk if one location suffers and the bottom falls out.

I think the best way would be to do like others said and search off-market... find some wholesalers, other REI contacts.. maybe even send some yellow letters trying to find that house hack... That's what we've been doing to find a local house hack around our area. No luck yet, but it will happen. Keep pushing!