All Forum Posts by: Brice Peterson

@Denver McClure I sent you a dm!

Hey everyone,

I’m exploring house hacking with a duplex (live in one unit, rent out the other) and I’m wondering if it’s possible to apply the BRRRR strategy to a property like this.

My thought process:

• Buy the duplex with an FHA loan and live in it.
• Rent out the other unit to help cover costs.
• Renovate if needed to increase value.
• Refinance to pull cash out.
• Possibly repeat the process elsewhere.

I’m curious if anyone has actually done this or knows the technical/logistical challenges. For example:

• Does living in one unit affect your ability to refinance for BRRRR?
• Are there restrictions because it’s FHA?
• Does it still make sense financially if you’re only renting out part of the property initially?

Would love to hear any experiences, tips, or warnings.

Thanks!

Hello,

I’m actively pursuing a duplex property in Columbia, SC, to utilize an FHA loan (3.5% down) for house hacking. The plan is to reside in one unit while renting out the other. However, I’m encountering challenges in identifying suitable properties that align with this strategy.

Challenges:

• Limited Inventory: The availability of duplexes in desirable neighborhoods seems scarce.
• Financial Viability: Many properties that are available either don’t generate sufficient rental income to offset mortgage costs or require significant renovations that exceed my budget.

Questions:

1. Market Insights: Are there specific neighborhoods in Columbia where duplexes are more prevalent or offer better investment potential?
2. Financing Strategies: Beyond the standard FHA loan, are there other financing options or programs that could facilitate this purchase?
3. Property Search Tips: Any advice on effectively searching for duplexes or connecting with sellers who might be open to selling off-market?
4. Long-Term Considerations: Given the current market conditions, would it be prudent to consider alternative investment strategies or locations?

I appreciate any insights or experiences you can share regarding house hacking in Columbia, SC.

Thanks!

Hey BP community, I’m about to graduate college and I’ve been diving deep into the BRRRR strategy. I really like the idea of building wealth and cash flow through buy, rehab, rent, refinance, repeat — but my biggest challenge right now is that I don’t have much capital saved up yet. Here’s my situation: • Graduating soon, career path not fully locked in yet. • Limited savings, but I’m eager to get started and willing to put in the work. • Open to creative strategies like house hacking, partnerships, private money, or FHA/owner-occupant loans if that’s a smart way to break in. A few questions I’m hoping to get guidance on: • What’s the best way for someone just starting out (and short on cash) to realistically finance their first BRRRR? • How can I build credibility with lenders or private investors without much experience yet? • Should I focus on lining up financing first, or go all-in on deal finding and then solve for funding? If anyone started their first BRRRR young or with limited resources, I’d love to hear how you made it work. I’m trying to be strategic and avoid beginner mistakes while still taking action. Appreciate any advice!

Hey everyone, I’m graduating college this December and want to get started in real estate investing. My original plan was to house hack right out of school, but my girlfriend isn’t really comfortable with that and would rather buy a house for us to live in. I don’t have a career lined up yet, but I’m planning ahead financially. My first move is to sell my truck, buy a cheaper car, and put the leftover money toward saving for a down payment. I want to make sure I’m setting myself up for the smartest first step into real estate. A few questions I’d love advice on: • If I don’t house hack, what’s a good path into real estate investing right out of college? • Should I focus on saving aggressively for a rental property first, or does it make sense to buy a primary home and invest later? • How do you balance starting life with a partner while still moving toward long-term investing goals? • Besides saving, what should I be focusing on right now (networking, market research, skills, etc.) to prepare for my first deal? I know these first few years are important, and I’d love to hear from people who started investing young or who’ve been in a similar situation. Thanks in advance!

@Brett Harvey I would love to talk! Would love to hear anything you can share with me!!

@Will Gaston I haven't looked into that yet. I'm still in college and don't have my full time job yet so I wasn't sure if I could get pre-approved for any amount 

Hey everyone,

I’m doing some early research into the Columbia, South Carolina market and wanted to reach out to see if anyone has insight into which areas are showing strong potential for multifamily residential growth.

I’m particularly interested in:

• Neighborhoods or corridors that are zoned for higher density
• Areas with recent or planned infrastructure improvements
• Up-and-coming neighborhoods where the city might be encouraging development
• Places with strong rental demand or growing population trends

I know markets can change quickly and hyperlocal knowledge goes a long way, so I’d love to hear from anyone who’s investing in Columbia or has boots-on-the-ground experience.

Any tips, trends, or even areas to avoid would be super helpful. Thanks in advance!

@Aaron Zimmerman if I was single I would 100% be down for that. However I'm in a committed relationship and I just don't think my significant other would be down for that. That's why I'm really trying to push the multi-family unit house hacking.

Hey everyone,

My name is Brice — I’m a 22-year-old college student graduating this December with a degree in Business and Organizational Leadership. I’ll be moving to Columbia, South Carolina after graduation, and I’m looking to get started in real estate investing as soon as possible.

I’ve been reading books, listening to podcasts, and browsing BiggerPockets, but now I’m looking for some real advice from people who’ve done it.

A few things about me:

• I’ll be a first-time buyer
• I’ll have around $5,000–$7,000 saved up by the time I graduate
• I’m open to house hacking, but I’m having a hard time finding duplexes in the areas I want to live in
• I’m willing to live in the property if it helps me get started
• I’m planning to use FHA or some kind of low down payment loan

Here’s what I’m trying to figure out:

• Is house hacking still the best way to start in a city like Columbia?
• Should I consider building a duplex if I can’t find one to buy?
• Are there other smart strategies for someone with limited capital (like partnering, wholesaling, or BRRRR with a cheap single-family)?
• What would you do if you were starting again at 22 with limited money but high motivation?

I’d really appreciate any feedback, success stories, or even mistakes I should avoid. Thanks in advance to anyone who takes the time to share — I’m just looking for the smartest path forward.

— Brice