Updated over 4 years ago on . Most recent reply
Getting my first property
Hello BP, I am currently in search of my first investment property in the Atlanta, Georgia area. I believe my strategy will be to house hack this property so, I am looking in the duplex to quadplex area. However, I listen to podcasts and read certain articles and I am struggling on should I go bigger or not? I would have to find a partner if I went bigger however I think I could figure this issue out. I guess my biggest question is when is to much for a first time investor should I go bigger when is to big? Also, what is the best advice for a new investor to expand my network or find a mentor/partner of some sort.
Most Popular Reply
To house hack...go it alone. Get pre-qualified to see how much home you can afford. That will determine if it'll be a sfr; duplex, or quad. Benefit of bigger is that the rental income is added to your income to qualify BEFORE YOU BUY. So that's a neat trick about how people buy a quad straight out the gate. Once pre-qualified...I can help you find the property. But start by driving neighborhoods to see where you want to live.. Last bit of advice, don't tell your tenants you're the owner. Act like a fellow renter and get a property Mgr as a go-between. Will cut down on alooooott of headaches. If you want to buy just an investment home, partner/mentors are a good benefit to grow quickly. Best of luck house hunting!