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Updated about 3 years ago on . Most recent reply

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Max Philip Henry
1
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3
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Young investor looking for advice before first House Hack.

Max Philip Henry
Posted

Hi everyone, my name is Max, I'm 20 years old and have recently gone under contract for my first home. This is my first post on the platform, and I'm looking for some advice and guidance. I've found a house and three roommates to cover my costs and give me a decent starting cash flow, ready to move in once the property is closed. I've been given great help by many mentors who took the time to open this world to me and I appreciate them setting me on this path early to active financial freedom young. I'm reaching out to see what investors (especially house hackers) wish they had done right from the start, some common mistakes first-time investors run into, and advice on how to keep things moving to the next property. I would also appreciate any advice pertaining specifically to the Florida (Jacksonville) Market, any good contractors, electricians, and plumbers that have done excellent work, I would appreciate their information as I have plans to remodel parts of the property. Finally, I'm looking for any help when it comes to taxes, that may sound general however that's about where my knowledge on the subject ends... general. If anyone with Florida Tax expertise would be willing to share some knowledge to help prepare me for the coming tax season, I would be extremely grateful. Thank you to all who give feedback feel free to reach out to me, I will take all of the help I can get.

Most Popular Reply

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680
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Nicholas Coulter
  • Real Estate Agent
  • Southern California
281
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680
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Nicholas Coulter
  • Real Estate Agent
  • Southern California
Replied

@Max Philip Henry I am a current househacker and most mistakes I made I dont want to repeat but am happy I learned them. The one I would say I could have avoided all together was accepting checks from my first every tenant. She has always payed but now I have to get these checks mailed to me when we move to the next property. RentRedi is the software that if I started using this to collect rent from the beginning then I would have avoided this!

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