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Idowu Babalola
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Trying to House Hack

Idowu Babalola
Posted Jun 14 2022, 17:04

Hello, I am a college graduate that secured a full time job and is looking to house hack, what areas would be the best around dallas?

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Lucia Rushton
  • Realtor
  • Dallas - Fort Worth Metroplex, Tx
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Lucia Rushton
  • Realtor
  • Dallas - Fort Worth Metroplex, Tx
Replied Jun 15 2022, 07:03

@Idowu Babalola. Where is your job and what is your budget ?

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Idowu Babalola
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Idowu Babalola
Replied Jun 15 2022, 07:19
Quote from @Lucia Rushton:

@Idowu Babalola. Where is your job and what is your budget ?

My job is in McKinney,TX and I am looking for a FHA loan for preferably a duplex,triplex, or quadplex.
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Andrew Garcia
  • Lender
  • Charlotte, NC
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Andrew Garcia
  • Lender
  • Charlotte, NC
Replied Jun 16 2022, 11:54

Hi @Idowu Babalola, definitely connect with a local realtor.

I am sure @Lucia Rushton can help you out or she likely knows someone that can.

Since you are looking for 2-4 unit properties, you are likely going to have to expand your search than simply one neighborhood.

Multifamily properties are becoming more and more scarce these days so you might have to look a little wider.

If you get under contract soon, you can still get a rate in the 4s!

Hope this helps! Let me know if I can be of any assistance.

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Chris Webb
  • Investor
  • Central Virginia
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Chris Webb
  • Investor
  • Central Virginia
Replied Jun 16 2022, 12:31

Hi @Idowu Babalola, I would look for the properties within your area. Multi families are difficult to come by in north Texas. One thing you could look at is getting a large home 5-6 beds and renting out rooms. Todd Baldwin does this in Seattle. Also, I am sure that @Lucia Rushton can help, but if she cannot let me know, I know a few agents in the area. 

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Erik Browning
Lender
Pro Member
  • Lender
  • CO CA TX WA ID OR
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Erik Browning
Lender
Pro Member
  • Lender
  • CO CA TX WA ID OR
Replied Jun 16 2022, 12:42

Hi @Idowu Babalola, if you are finding difficulty finding multifamily properties and can stomach the crumbs that roommates leave on the countertop, your initial idea of house hacking is definitely worth it. You can reduce your monthly housing expense while managing the asset. Good luck!

  • Lender

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Dave Skow
  • Lender
  • Seattle, WA
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Dave Skow
  • Lender
  • Seattle, WA
Replied Jun 16 2022, 12:44

@Idowu Babalola- best  first step is to get  a loan pre aprpoval in place 

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Lucia Rushton
  • Realtor
  • Dallas - Fort Worth Metroplex, Tx
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Lucia Rushton
  • Realtor
  • Dallas - Fort Worth Metroplex, Tx
Replied Jun 16 2022, 15:43
Quote from @Chris Webb:

Hi @Idowu Babalola, I would look for the properties within your area. Multi families are difficult to come by in north Texas. One thing you could look at is getting a large home 5-6 beds and renting out rooms. Todd Baldwin does this in Seattle. Also, I am sure that @Lucia Rushton can help, but if she cannot let me know, I know a few agents in the area. 


 Very kind of you Chris, yes we would be delighted to assist. Let's DM or my contact details are below.