All Forum Posts by: Jack Hamm

Hello BP, I want to practice analyzing deals and doing market research so I am prepared when the time comes but I am unsure of what information is needed and where to find it online. 

With that being said I see a lot of people here are from Denver what information did you want to know about the Denver market and where did you find this information. Thank you for any help!

Hello BP, when looking at properties I spend all of my time looking for multifamily homes, this is because even though I know the SFH is the most profitable I don't know what to do with the home after I move out. It seems really difficult to manage a rent by the room property when you are no longer a resident of the property.

I guess my questions are what happens to a SFH househack after you move out? Do you need to make sure it can work as a LTR for a family? How can the property remain profitable without me living there?

@Nicholas L.

This would mean that the additional rent that comes from the unit I was living in say 1,000 dollars a month a part of that money is what would cover the cost of a property management company. Since I move out of the property the unit I occupied would increase cash flow once im gone because  somebody else pays rent for the unit. 

Hello BP, After learning for the past few months I think that I have come up with a househacking strategy that I believe could be successful for me but I would love to hear any additional things to think about or any advice you may have. Here is the strategy:

Once I move out of college I will have a degree in manufacturing engineering and hopefully making around 70-80k a year starting. With this salary I will rent an apartment or a room in someone else's househack for a few months while I save money and look for a property to househack on my own. Ideally I would like to find duplex, triplex or quadplex. Once I have found a property and have a 3.5% down payment for a FHA loan I will purchase my first property.

With FHA you have to live in the home for a year so I would run the property on my own while I am living there for the first year and continue to find more properties that I can move to and househack again after the 1 year long period has passed. Once I move out of the property I would take a percentage of the additional rent made on the unit that I occupied and hire a property management company. I would be purchasing my second property with another FHA loan.

I would Ideally complete this process for 3-5 years and have roughly 10 units that should cash flow before buying my own single family home. 

Thank you for any help or guidance you can provide!

Hello BP, I am interested in househacking and I feel as though I am not ready. I feel like there is more information that I need to know before I am able to go all in on real estate. I've been browsing the forums and making a few posts to try and learn as much as possible before diving in. What information do you wish you had before starting? What were your strategies and how did you adjust after something was inevitably not perfect? Thank you for any help!

Hi BP, I am looking to start house hacking and I was wondering what the best way to find multi-family properties would be on or off market. I also would love to know where I can find a list of people who had recently inherited properties or were recently divorced. Thank you for any help.

Hello BP, I am very interested in househacking while in college I have started researching properties and have questions on how to turn the house hack into a medium term rental property for other college students. When finding a price to rent the place for how do I decide because there could be up to 4 people living in the home but comp properties are renting for $1800 a month and I feel like $450 per person per month is to cheap but I may be wrong. How do I decide on a price to set rent at; how do this vary when it won't be just one person or one family it will be 3-4 people living in the home?

Hello BP, I am a 19 year old investor and looking to get started on my first house hack while being in college. First some information about the situation I would be living in this home for 2 years and renting to tenants for 10/12 months during the year. I plan on buying this home with an FHA 3.5% down loan. I plan on buying a single family with 3/4 bedrooms. My issue is that I will most likely need a co-signer this would end up being my mom or uncle. My question to you is what is a very complete list of information that I need to present to my co-signer so I can make them feel confident in the deal as well as what information do I need to know about the property to make sure that it will be profitable and a good fit for me. Thank you so much for any help!

Hello BP, I am wondering what websites I can use to scan public records and see people who might've been recently divorced or inherited a home from a relative so I can find off of the market housing. Also what are websites that I can use to Skiptrace?