Updated 3 months ago on . Most recent reply
New to Real Estate Investing
Hello everyone,
My name is Tyler and im new to real estate investing and am looking to get my first property this year, with a goal of scaling to 3+ properties as my five year plan. Earlier this year I first learned about the idea of house hacking and multi-family properties. I actually just found this forum as I had just recently started reading Craig Curelop's book on house hacking. I have been working extra and saving extra for a down payment for my first property. I'm looking to learn more about finding and analyzing deals. And overall real estate investing in general as I continue to come across new concepts and strategies. I'm currently trying to decide between a single family home and a multifamily home for my first property. The barrier to entry seems a lot lighter for sfh, but ive heard that mfh are great for scaling early. That being said im excited to meet, connect and learn from everyone here!
Most Popular Reply
Welcome to the BP community! Congrats on diving into the investment world. I would say to focus on you first door to make sure building a portfolio is really what you want to do. That over focusing on a certain amount properties by a certain amount of time. Investors often use an FHA or VA loan and buy multi-family then house hack it. Rent out one portion and live in the other. This lowers their cost of living, they can then either pocket the money to build up for another door or use it to pay down your mortgage and have equity in the property. In the DC area, SFH/TH will convert the basement to a separate living area and house hack that way.