All Forum Posts by: Aaron Zimmerman

No major red flags. Older houses tend to have issues like this. #3-5 are largely non issues/minor inconveniences outside of no gutter on a section of the roof. 

The ac units going is not ideal but certainly something to model out. For the basement moisture, you might want to get someone out there to inspect that further  

House hacking in an a more expensive market like salt lake is the way. You'll be able to maximize your down payment and get plenty of leverage. I would recommend learning as much as possible about house hacking as you save up for your down payment 

@Tajana Reagan of course! Happy to help!

It depends what you're willing to do. You have a few options:

1. house hack a multi family which will reduce housing expense.

2. Buy a property with 20-25% down that needs cosmetic rehab and boost rents.

3. Buy a total gut that you'll likely need hard money for construction and purchase.

4. If you don't want to house hack, you can do the live in flip. Buy the worst house in the best neighborhood and fix it up. Live in it for 2 years and then sell. 

@Tajana Reagan absolutely. If you can break even while living there, that's incredible. It's just with todays interest rates and prices, it's a bit more difficult.

Key lessons:

1. Vet existing residents. The last thing you want is an eviction.

2. Carefully review inspection report to know what items you'll need to spend Monday on in the first couple of years.

3. Have plenty of reserves in case of any storms. 

4. try to improve the owners unit while you live there to maximize rent upon move out 

You are on the right path. House hacking in Boise is a great market and one that I personally loved when I visited. Rent by the room allows you to maximize cash flow. I'd encourage you to save up reserves, build credit, and gain employment if possible. Best of luck on your journey!

I would house hack. However, I'd make sure you have plenty of reserves to weather any storms. 

Totally depends on the individuals situation and I agree house hacking is the move if you're single or DINK. It can even work with a young family but might be harder with a larger family due to space constraints. Despite that, I'd say the live in flip for larger families is doable with the right amount of effort 

Thank you for sharing! Mobile home parks are a very lucrative asset class for bonus depreciation 

Dan - welcome! 

You will want to start educating yourself while you have time to learn. I'd recommend biggerpockets as well as the straight up Chicago investor. 

I would read any David Greene or Brandon turner book. I would also read set for life to get the fundamentals of personal finance. 

You will also want to build your network now so I'd encourage you to go to some amazing local meetups.

Feel free to reach out with any questions. Happy to help!