House Hacking Process

6 Replies

Currently I am in the process of House Hacking. I can 100% say i am using the "fire, ready, aim" strategy lol. I am a person that always takes action, and i want to make sure my action is guided. I have spoken to 2 lenders and i am in the process if getting pre-approved. I have also spoken to 1 real estate agent. My question is, about how many lenders should i talk to, and how many agents? The 1 agent that i am speaking to, as well as 1 lender, have house hacked before so they are so much help! But how many others should i talk to? Also any advice on house hacking is much appreciated, thank you.

Hi Miguel!

I would talk to a good amount of each lenders and agents, until you feel very comfortable with each on of them. It all comes down to if you can trust the lender and agent. It's good that you have an agent that house hacked before, that'll definitely help.

Congrats on deciding to house hack! It is an incredible way to start building wealth. Couple tips for hacking: look near colleges and hospitals for solid rental markets.

@Zach Olmstead Hi Zach, who are the target renters for location near hospitals? I'm guessing traveling nurses? In that case, I assume short-term rental is a better way, right?

@Vy Nguyen Yes, depending on the market, traveling nurses and a str could work very well, and cash flow much better than a regular rental. 

Also, just nurses/hospital workers in general who need to rent a place since they tend to have a solid income and great job security (which is the best pro in my opinion).