Financing a House-Hack

2 Replies

Whatsup BP!

I’ve been reading the forums and books for a while now as well as watching the podcasts, but this is my first post!

I’d like to ask for some advice on my current situation. I’m 18 years old and I’ll graduate high school in just a few weeks from writing this. I live in a small-ish town with about 60,000 people in the area, and a decreasing population too. I’m looking to house-hack into a new larger and growing city.

I've looked over the numbers of multiple markets and have a few in mind, but my question is about financing. I have plenty of savings for a reasonable down payment from odd jobs and small business ventures, but not 2 years of employment history for the traditional FHA qualifications.

I recently got licensed for a well paying insurance job so I could work for two years to qualify, but I’d like to move into a house-hack ASAP.

I’m familiar with hard money, portfolio lenders, subject-to, and all the other creative stuff. but I’d like to get some opinions on how you guys would approach this situation in my shoes.

thanks a ton everybody :)

Hey @Merrick Wessels

Congrats to you for your ambition! If you are looking to connect with someone for some guidance or advice, feel free to reach out. I also recommend you read this article I wrote for Bigger Pockets titled How to Invest in Real Estate Before Turning 21. Once you've read it, let me know your thoughts and if you have any questions. I am a high school teacher in Colorado and I am always looking to help young people get started in real estate investing or help in any way I can. Let me know if you want to chat sometime. https://www.biggerpockets.com/