House Hack and Guided Deal!

[Dino Jarrin Jr]

1. I am 24 years old and have a 100k of liquid capital. High paying job and need to start deploying investment money and offset taxes.

2. I plan to do my first househack as 5 year listener of Bigger Pockets. I work in Alpharetta, GA. I am looking in Alpharetta, cumming, Buford, sugar hill and Woodstock in that order. I have started the process with pre-approvals  and looked at a couple properties. I have done some basic calculations. At this point would love guidance and or to make some new investor contacts. I have been back and forth between targeting a 350k or lower single family home and house hacking it as the payment is extremely affordable for me even if I can not find great renters/roomates quickly. Or I have a particular property where I would rent the main portion and should break even on mortgage while living in a apartment side can provide address listed at 520k with my calculations I ran it at 450k price. The reason I am considering something like this is it’s as close I can get to a duplex in this market and price ranges. Would love some insight. 

3. I always thought I would put 20% down. Though I have become more interested in doing my own house hack (5% down to have more liquid capital left) along with a guided deal. I was thinking with Rent to Retirement. Please let me know what you guys think. If there are better companies who are similar. Also if this strategy makes sense. 

4. My income has doubled in the past year. From 60k (what my pre-approvals are based off of) to 135k. My goal is to be a millionaire by 30. I look forward to connecting with some new educated connections. I am very happy to exchange value for value.

Thank you and looking forward to discussing with everyone! 

[Kerlous Tadres]

Hey @Dino Jarrin Jr, I’d recommend going 5% down and keeping the extra cash ready for the next deal instead of locking it into one property. The setup with a separate rentable space is the stronger long-term move because it helps offset the mortgage faster and gives you more rental flexibility.