House Hacking Advise

5 Replies

Hi, my name is Emily. I live in Richmond, Virginia. I am currently a college student about to start my last year. I plan to get into real estate investing after I graduate. I just finished the book on rental property investing by Brandon turner-great book, learned a lot. I was wondering if anyone knew how the market is for house hacking in Richmond and if anyone has any words of advise for me as I begin to start looking for a small multifamily to house hack. Thanks so much!

Emily, I don't really know about Richmond but I did the same as yourself. I recently graduated from The University of Texas at Austin and bought my house hack right after.  

I would say to inform yourself as much as possible through books and podcasts. Read Craig Curelop's House Hacking book. I'd also say to direct message people that are house hacking and get on the phone with them, pick their brain, ask lots of questions. 

Hey Emily! Feel free to send me a direct message. House hacking is awesome. I am in Richmond and am going on to house hack #2 (closing this month). I would 2nd the advice to read Craig Curelop's book and also listen to his podcast episode. 

I've found small-multi family in Richmond to be pretty difficult to find for house hacking. Though more recently I have seen a few come across that might have worked. If you are comfortable with it, I would recommend the single-family home, rent by the room approach. That's what I've done and it's worked well. Do you have a network in Richmond of friends that you can have as roommates? I was new to Richmond so that has been the hardest part for me. 

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

We hate spam just as much as you