- Rental Property Investor
- Columbus, OH
- Votes |
Looking for Some Advice on My Current Real Estate Situation
This is what my current situation looks like:
I live in one side of a duplex and have been struggling to get qualified renters for the other side. Even after lowering rent and being a little flexible, I am still paying a $2500 mortgage by myself instead of the $1000 I thought I would be paying for my portion prior to purchasing this house-hack. This is draining me of my funds and not allowing me to save any money for future investments. I have a bunch of people who reply to my ads but most of them do not meet the minimum requirements that are literally listed in the description.
I am currently studying to take my state exam to be a home inspector next week or the following week. I am hoping to do this part-time in 2023 in addition to my W2 job until I can possibly switch over to full-time inspections.
What I want to Achieve in 2023:
This year, I am looking to purchase another house-hack via FHA loan on either another duplex or a 4plex here in Columbus, OH with a small value add opportunity. I would love to have my living expenses even lower than the $1000 I expected to pay here once the other side is rented. However, because I am struggling to get it rented I can't really put away any cash for this year's investments.
I would love to hear some of your advice on my current situation and how I should be looking to attack this year and get a tenant soon, as well as add an additional property or two to my portfolio by 2024. I have a very driven attitude and I am willing to put in the work, I am just a little lost at the moment on where I should be started or how I should go about my situation and my goals.