House hacking for beginners

[George Penree]

Good Morning Bigger Pockets.  I am a new investor who is going to house hack once I find the right property.  I am very new and study the business a little bit everyday and am stashing money away for down payment and closing costs.

I am open to advice from new and experienced investors who have already purchased a property and are house hacking or have in the past?  

I am in Columbus Ohio and would like to meet up with other investors as well.  My strategy is buy, hold, landlord myself for awhile.  Overall goal is build wealth for my 5 year old when she gets older as well as create a 3rd stream of income for myself.

Have a great day.

George Penree

[Michael K Gallagher]

Hey @George Penree welcome! I am just moving out of my house hack in South of main in Columbus over on the east side. We lived in one side of our duplex and rented the other for 2 years up until about two weeks ago. If you have any questions about shopping for one or finding one I'd be happy to go over numbers and what we looked for. I'd also encourage you to consider the FHA loan option as its one of the cheapest down payments to get into a duplex!

I managed it myself and still manage it. I've mostly been using zillow rental manager and its been a really nice platform.  I'm also a pro member on bigger pockets and take advantage of all the OH legal documents we get access to, for sure worth it.

So again more than happy to talk specifics if you are looking at certain properties or areas...and share what my experience has been...but overall house hacking in general opened up so many other doors in my life, so I'm a huge fan and I'd say do it!  and do it sooner rather than later.  

Cheers, 

Michael