How to begin my journey

5 Replies

Hi everyone I have a question for you or would like some advice from you. I have been talking with my girlfriend about my goals and dreams about how i want to do a do a couple housing hacks. She has a child who's 6. I told her i would like to do maybe 3-4 since I've heard after your 3rd or 4th deal it gets hard to finance a deal through banks. As i have brought it up she has said she doesn't want to move around all the time. Ive tried to tell her the benefits of it and how it could set us up for the future. I haven't really thought of any other way other than an FHA loan house hack but I was wondering if anyone has any suggestions on what else would be a good idea to do? I know theres save money till i can afford the down payment or find a house in a rural area so i could do a zero percent down through a USAD loan but not sure if you would also have to live in it or not?

You can also buy turn key rents out of state and put $10k down on each property. That would create some cash flow for you as well. 

Originally posted by @Eric Bergey :

Hi everyone I have a question for you or would like some advice from you. I have been talking with my girlfriend about my goals and dreams about how i want to do a do a couple housing hacks. She has a child who's 6. I told her i would like to do maybe 3-4 since I've heard after your 3rd or 4th deal it gets hard to finance a deal through banks. As i have brought it up she has said she doesn't want to move around all the time. Ive tried to tell her the benefits of it and how it could set us up for the future. I haven't really thought of any other way other than an FHA loan house hack but I was wondering if anyone has any suggestions on what else would be a good idea to do? I know theres save money till i can afford the down payment or find a house in a rural area so i could do a zero percent down through a USAD loan but not sure if you would also have to live in it or not?

Welcome to the world of REI! Best of luck to you!

Your best option, if your life goals and dreams are real estate investing, is to find a similar minded partner. 

Determine your priorities and follow the path that meets your goals now while you still can. Regrets are forever, relationships seldom are.

@Eric Bergey

Welcome to BP. Best of luck with whichever strategy you ultimately choose to implement.

@Eric Bergey

Do you have children with this woman and how long have you been together? If you are 25 as your profile says I'd be cautious about dating a woman with a kid. That is the prime age that women use men with a good trajectory to care for their young and there are plenty horror stories about this type of situation going horrifically wrong for the male. If you are going to go ahead and take care of this kid and be its father then you cannot house hack. You need to focus on raising the kid because your life isn't what matters at that point;its the child's life. Listen to Thomas but in the end it's your choice.

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