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Kevin Brennan
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Where should I start?

Kevin Brennan
Posted Aug 6 2022, 17:39

First post here. Been wanting to get into real estate investing for a very long time. My fiancé and bought our first house last year and getting married at the end of this year. 

Our goal is to really the ball rolling start of next year! I would really like to connect with some of you who have been doing this for a while and really learn. 

#Currentlywatchingbiggerpockets

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Andrew Garcia
  • Lender
  • Charlotte, NC
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Andrew Garcia
  • Lender
  • Charlotte, NC
Replied Aug 6 2022, 18:03

Hi @Kevin Brennan, house hacking is a great way to get started in REI.

It takes a very low initial investment (3.5% down) and can generally save you a thousand dollars or more per month in living expenses.

Depending on a few factors, you can likely get a rate in the low to mid 4s.

You could keep your current residence as an investment property or sell it to reinvest elsewhere.

Hope this helps! Let me know if I can be of any assistance.

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Eliott Elias#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
  • Investor
  • Austin, TX
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Eliott Elias#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
  • Investor
  • Austin, TX
Replied Aug 6 2022, 18:13

I would choose your lifestyle before choosing your deals. How passive or active do you want to be? Real estate can be very passive if you set it up the right way. Happy to talk more! 

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Kyle Lane
  • Rental Property Investor
  • Mountain Grove, MO
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Kyle Lane
  • Rental Property Investor
  • Mountain Grove, MO
Replied Aug 6 2022, 18:41
The podcasts are full of knowledge on house hacking. If your current house is big enough you could air bnb a room. I wouldn't want people in my house though. If that's the case you could buy a duplex, live in a unit and rent the other one and put the house you just bought on vrbo or air bnb. That would be a hybrid strategy but would, in theory, accelerate your investment trajectory. I say in theory because a lot would have to go right. And I would suggest having at least 6 months of expenses in cash or cash equivalents like t-bonds or a money market account.

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Julio Gonzalez
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  • Specialist
  • West Palm Beach, FL
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Julio Gonzalez
Pro Member
  • Specialist
  • West Palm Beach, FL
Replied Aug 8 2022, 02:53

Welcome to BiggerPockets, Kevin! 

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Chris Webb
  • Investor
  • Central Virginia
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Chris Webb
  • Investor
  • Central Virginia
Replied Aug 8 2022, 08:44

HI @Kevin Brennan, I wish you luck! I just moved away from DFW to Central Virginia. I follow Mike Zuber on YouTube at One Rental at a Time. He has daily content with several multi-millionaires and does a financial news update every day. Take a look and have a blast.