New Here. House Hacking or Wholesale first?

Question

I've been wanting to crack into real estate for awhile now but just recently finally started to learn about somethings within it. In my current situation, i'm living in an apartment. Would love a primary but also have a house hacking opportunity available with a duplex. That would lower my monthly expenses while putting aside the extra money I wouldn't be spending for future investments. The other part of me wants to get into wholesaling but i'm not quite sure how to get that rolling and how to go about it exactly with finding these deals, having a buy assigned to the deal and drawing up a contract for it. Any advice would help. Thanks

Ryan Hoehn · Answer

Sounds like a good step in the right direction. Good Luck

Jason Wray · Answer

Ryan,

Over the last 15 years everyone has tried getting into wholesaling as if it was easy and could be done as a side hustle.  The game has changed its harder now and its cut throat there are individuals and companies employing door knockers, sign hangers, cold callers etc.

If you want to get into the game start with a house hack and do a true BRRR using the primary home hack.  The problem is most people do not take the time to properly explain the process and they end up missing  a step and hitting a brick wall.

If you want check out my profile and send me an email, I would be happy to offer some free advice and go over the Pro's and Con's and put you on the right track in the right market.

Mohammed Rahman · Answer

If I’m being honest, house hacking the duplex is usually the cleaner first move in your situation. It reduces your living expenses immediately, gives you hands-on landlord experience, and builds equity at the same time. That experience alone makes every future investing decision easier because you are learning while your cost of living is lower.

Before you decide though, I would also speak with a lender and a real estate agent first just to make sure the house hack is actually realistic with your current financing, income, and local numbers.

Wholesaling can work too, but it’s a completely different skill set. It’s less about buying property and more about marketing, finding off-market deals, talking to sellers, and building a buyers list. A lot of people underestimate how much consistent outreach it takes to get your first assignment done.

Eartha Green Cox · Answer

All this guidance is pretty helpful to me also. Getting out of the medical field and working on converting my 2 car garage into an ADU to get my feet wet and then advertise on several websites including Air BnB and Furnished Finder. Then progress from there and hopefully have some profit to buy another property,

Wale Lawal · Answer

@Ryan Hoehn

I think you should begin with a 2-4 unit property, live in one and rent the others to help pay your mortgage. If the payments are a little high, then buy a one family house with a rentable basement or ADU. Also you should strive to have those rent payments pay most of your monthly bill.

Good luck!

Caleb Brown · Answer

House hacking. There is many ways you can go about it but it gets you in the door. Wholesaling is doable but cmpetetive and takes time

Aaron Zimmerman · Answer

@Ryan Hoehn you'll likely need more capital and you might be buying lower quality assets if you have more limited capital. Candidly I don't know a ton about note investing

Aaron Zimmerman · Answer

House hacking. It’s unbeatable in my opinion for new investors when done right. You’re lowering your housing expenses, learning how to be a landlord and can generally get a lower down payment which means less hurdles to get into a property. Plus you can do it every year if the funds permit.

Ryan Hoehn · Answer

what about not owning the property at all (asset) but instead owning the debt (note) where you have payments being paid to you monthly like you are the bank

New Here. House Hacking or Wholesale first?

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