House Hacking Advice for First Investment
Hello! I am a college student looking to put money that I have saved up over the years towards a house hack. I know the first investment I need to make is in resources about how to actually run the numbers. I am familiar with all of the real estate terminology but need practical next steps on how to actually run the numbers to calculate a successful deal. Any help would be greatly appreciated!
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HI Nick, happy to hear that you're hunting your first house hack! There are several ways to run and make sure you are maximizing your rental income while keeping your living expense as low as possible. Try looking into zillow/Redfin and see what your potential rents you can get near the neighborhood by filtering the bedrooms/bathrooms of the intentional property that you are planning to buy. This will allow you give a reference point on how much potential rent you can receive. (Max vacated rents - your monthly mortgage payment) = +/- net cashflow. Happy to connect and assist you in your real estate investing journey. @Albert Bui @Carlos Valencia