Hello from San Antonio, TX!

10 Replies

Hi,

My name is Chris Jacobie and I'm from San Antonio, TX. My wife and I bought our first single-family home in 2016 and have been living in it since then. 

Over Thanksgiving, I was complaining to my brother-in-law about having to pay for our house every month and he asked me if I'd ever heard of "House Hacking." He explained it briefly and I dove head first into the Bigger Pockets podcasts and Craig Curelop's book, The House Hacking Strategy.

My wife and I are on board for selling the house and moving into a house hacking situation!

I'm excited to learn from and contribute to the forum. I'm also excited to start meeting San Antonio brokers and agents!

-Chris

Why cant you do it with your current house?? Lots of costs go into selling and purchasing a new home. Selling will be about 10%. New loan and closing costs are going to be about 2or 3%. DONT get a new home just to house hack. Work on what you have now. Get a roommate, airbnb, something.

@Chris Jacobie

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Originally posted by @Rick Pozos :

Why cant you do it with your current house?? Lots of costs go into selling and purchasing a new home. Selling will be about 10%. New loan and closing costs are going to be about 2or 3%. DONT get a new home just to house hack. Work on what you have now. Get a roommate, airbnb, something.


Rick,

Good point. Because we’re having a kid soon and don’t want to have a roommate or AirBnBs in the house. The idea would be to get a multi-family that we can continue to rent after we move out. Guess I’ll need to crunch the numbers more and make sure it makes sense.

Chris 

@Chris Jacobie

Welcome to Bigger Pockets!

This is a great place to learn and network. A lot of forum members are very knowledgeable in their respective fields related to real estate investing, whether that is real estate sales, wholesaling, flipping, rentals, lending, self-directed IRA and Solo 401k investing, or tax and legal guidance.

The rental calculator would probably make the most sense. Input the numbers based on your mortgage and operating expenses. Check with your mortgage company to see if you can do a cash out refinance. That's unless you already have the cash to purchase the next property. Talk with a realtor and find out what homes are renting for in your area. You may not cash flow much with your current home but you will have someone in it making the payments for you. This is just my opinion. I'm always searching for different ways to make existing situations work. I wish I would have been a bigger pockets members a few years ago when I sold my first house. I would have done a cash out refinance and starting the BRRRR strategy.

Good luck with with what ever decision you make.

 

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