so many different directions!? Starting out!

[Jason Revolorio]

Hello everyone!

This is my First post on BP! Exciting! I stumbled on BP about 4 months ago and i've been listening to the podcast nonstop! i have also been reading alot of the forums! Im just searching for a little guidance into starting my journey in REI!

I am currently 21 years old and bought my first home (3-2-2) back in November 2017! it was a turnkey property and i bought it at market value, my wife and I rent one room out which gets us a little over half of the mortage payment.  we sort of house hacked before we knew about it! we get $600/month on rent income. ive tried to refinance, but the banks said since im too new into the loan, they would not it. what are some next steps i could follow? any advise?

[James Wise]

Originally posted by @Jason Revolorio:

@James Wise Those 2 options sure do sound interesting, if i go with the second option, what would happen to the loan on the first house? would it remain the same?

 Yup, it remains untouched. You can do this 10x assuming you have good credit & income. It's called house hacking. It's a great way to build wealth at a young age with a low amount of capital. I did my 1st house hack at 21. 10 years later I'm running a $50 million portfolio.