Beginner where do I start!

[Illya Stafford]

Hey everyone, I’m new to real estate investing and just getting started with house hacking, so I’d really appreciate some guidance from those with more experience.

A little background on me: I’m based in Miami, Florida, but I’ve realized pretty quickly that prices here are high, so I’m also open to investing in more affordable markets like Jacksonville and other parts of North Florida. My goal is to buy a property where I can live in one unit and rent out the others to offset (or fully cover) my mortgage.

I’ve started browsing sites like Realtor.com, but I’m not fully sure what I should be focusing on when analyzing deals. For those who’ve done this successfully:

• What websites or tools do you recommend for finding good house hacking opportunities?  
• What are the key numbers or metrics I should be paying attention to when evaluating a deal?  
• Is it better for a beginner to go with an older property (more affordable but possibly more maintenance) or a newer one (higher price but less work upfront)?  
• What price range should I realistically be targeting for my first deal?  
• Any tips on identifying areas with strong rental demand, especially for house hacking?

Also, if you were starting over today as a beginner, what would you focus on first or do differently?

I’m really trying to build a solid foundation and make a smart first purchase, so any advice, resources, or personal experiences would help a lot. Appreciate you all 🙏

[Janice Carter]

Illya, great strategy. House hacking is one of the best ways to get started in real estate investing. Focus on the numbers first: compare your monthly payment to projected rental income, aiming to cover most or all of your mortgage while maintaining cash reserves. For deal sourcing, work with local agents, explore off market opportunities and tap into investor groups. When it comes to property type, newer homes typically require less maintenance while older properties may offer better pricing but need repairs. Just budget accordingly. Also, target locations near jobs, schools, transit and areas with population growth to ensure strong rental demand. Most importantly, buy right and build a solid team early.