Updated over 6 years ago on . Most recent reply
Getting started ....information overload
OK so I'm very new to this. I'm about 27 years old , I got wind of the concept of " house hacking " not to long ago. Now me not having any major debt lingering such as car/school/credit cards , I fell in love with the idea of house hacking a three unit multi family. I'm currently working on saving about 15k to be able to have ready for a 3.5-5% down payment by the end of the year , mind you I may also have a friend that's willing to invest another 15k along side me , so we're looking at about 30k to play with. I'm looking to go the fha way about things. I know they're a lot of variables to take into consideration like location , property taxes , NOI , ROI , etc I'm not there yet but I do go on places like trullia and LoopNet and look at properties and punch in the number to get a good idea and read up on turn key properties with tenants already occupying the units to get a better concept of running number. I'm pretty much ready to get invested in the process. I listened to a bunch of audiobooks , podcast, first hand stories, etc pretty much got a good sense of the strategy I want to take Im just caught up just in the information overload stage I just want to know what to do once I have the 30k at hand and ready to go.