Updated about 4 years ago on . Most recent reply
New Investor Looking to Purchase in a Year
Hello all!
I just realized that this is what I want to do for my career but my wife is going to school and we will be moving back to live with family within a year.
I really would like to house hack as it seems like the safest way to get started and to save a lot of money for the future but I'm not sure what to do RIGHT NOW because we won't be able to purchase and live at the property for at least a year.
We are currently looking to purchase in Davis County or Weber County, UT as that is where my wife will be doing student teaching but the prices are crazy and, after doing numbers for a few dozen properties, I just can't seem to get the numbers to work.
So, in essence, should I just wait it out? Also, as a side question, it seems like very few properties list what the tenants are paying for rent, when that's the case, do you just estimate what you think the numbers could be for the sqft and average rent?
Most Popular Reply
Do. Not. Wait. It. Out. DON'T.
If the numbers aren't working, get another job, take on more hours, do whatever it takes. I only have one regret in life, and I've done plenty of regrettable things, but my only regret is not starting real estate investing sooner.
If you're on Facebook, find the Weber County Real Estate Meetup group. They'll have a page. Join it. Interact. Start reading and interacting on BP forums. You'll find people here and on your local meetup who have the passion for real estate that will help guide your way.
In one year from today, if you take action today, you'll be so glad you did. In five years from today, if you took action today, you'll be wealthy. Do. Not. Wait.