All Forum Posts by: Austin McClain

Selling vacant is easier, but if you can't/don't want to vacate the property investors will still look at tenant occupied homes 

House hacking is good because you can get a low down payment mortgage (around 3-5%). If you go out of state, the prices will be lower, but the down payments go up to 20-25% 

I personally started house hacking. It's a good way to get started with less money down to hold an asset 

Lean on Google Street View to get a feel. That isn't perfect, but can give you an idea. Then ask agents/PM's their opinion about areas that you're checking out. 

Niche is also a helpful site too. It's also not fool proof, but is a good start to get a feeing for different areas 

I have a list I'll DM you 

I've paid the neighbors to log into their wifi before as well. It was a way to avoid setting up my own wifi 

My out-of-state clients in Ohio use a mobile notary for anything less than 4 units. A notary meets at their home or office with the documents. Some commercial lenders I've worked with have required the buyer to wet sign in the State, so they've had to fly in for the closing. Ask the lender to see if this is something that they require to plan ahead 

I have a spreadsheet I keep, I'll DM you now 

Thank you for your service! House hacking with a VA loan is a big advantage. You can live in one unit and rent out the other for little to no down payment. This is a great way to scale as you build your savings post-college.

Just make sure you keep enough in an emergency fund in case a roof or furnace goes out. 

I work with a lot of out-of-state investors. I recommend that they use a property manager. It can eat into your cash flow, but if you're earning high income from your W-2 job (I assume you are if you're buying in all cash), it makes more sense to use your time making more income versus managing maintenance requests as you scale. 

You still need to be involved and watch your property manager to ensure things are running well, but that takes less time than self-managing. Running a portfolio well would be like taking on a second job as you build your own systems 

One of my listings is closing in Middletown this week. It's a good market for cash flow