All Forum Posts by: Jared Grubbs
Jared Grubbs has started 3 posts and replied 5 times.
Post: House hacking occupation question.
- Posts 5
- Votes 4
Hello! So I'm looking to buy my first property as an owner occupied duplex in the near future. I'm still saving for my low down payment so I'm not quite shopping around yet, but I do like to practice analyzing and look in my area for multi family properties that I would be interested in once I am financially ready. However, a lot of the 2-4 unit properties that I find are fully occupied and my goal is to house hack. However exactly would I go about moving in / explaining to the current tenant(s) what I'm doing. Is it wrong to just kick someone out like that?
@Jack Matthias I appreciate your insight!
Hey, I am currently looking into investing in multifamily homes to live in one unit and rent the other unit(s) out. I currently have no down payment, but plan to save enough for a 3.5% down payment of my projected budget, closing costs, and any extra for maintenance/rehab in the next 12-18 months. I aim to learn as much as I can through books, podcasts, and networking groups. I am also 19 years old and live rent free with my parents. Does it seem like any of this is rushed or should I have that sense of urgency to get into the real estate market sooner rather than later with this home hacking strategy? Or rather is this a good time frame for a beginner real estate investor such as myself?
Quote from @Caleb Brown:
Start with a house hack. Focus on steady income, saving and your credit. A house hack would be lower DP, get your foot in the door. I would look for a 2-4 unit. This would reduce your livings expenses as you live there which increases your savings rate to do it again. When you move out the property should cashflow. You can also attend local meet ups and network locally. Build your knowledge
Hello! I am looking to get into real estate investing and rental properties. I am 19 years old and eager to learn as much as I can.