All Forum Posts by: Justin A.

@Justin A. I can see why you want to do a flip with the huge profit margin potential in sandy springs. I hope you have deep pockets though to help cover the cost of this in the springs. The Atlanta and metro atlanta area is a tough market with so much competition and the values so high.

House hacking is a great strategy. Generally you can afford more costly homes since you have more doors to rent out. And if you lose a tenant you’re not 100% vacant immediately.

The 400 corridor more specifically into Forsyth is projected to double in population by 2050.

House hacking is a great way to get started. If you are currently living at home for free perhaps you should purchase the home and keep as a rental as long as it cashflows.  Another option as stated above could be kind of a long term househack flip. I think fixing a home you live in over 2 years then selling and avoiding capital gains is a great strategy as well. 
You could also buy an owner occupied home  with low money down and house hack purchasing another home every year and start building your portfolio. Just make sure when you purchase the homes  it make sense as long term rentals once you move on to the next. 
If you buy a home you can BRRRR you could refinance your money back out to put down on to the next each time.

Flipping first is the best way to lose your money by making poor decisions based on lack of knowledge or by making bad partnerships. You can house hack and mini-flip if you find a two-unit that you can rent well on one side and do some work on your own unit while you live there to learn a bit about renovation. Everyone I know who tried to flip first either overspent and got killed or underspent and got killed because they didn't know what they were doing.

It depends on your goals. Do you need to generate more cash ASAP? Then flipping is a better bet. Do you want to invest for long-term cash flow and appreciation? Then you'd want to own the property long-term. Flipping is a job, a house hack is an investment.

Also depends on your risk tolerance. If you try flipping your first house and screw up, you could lose significant money. If you "screw up" a house hack, you're still usually way ahead relative to renting.

As someone who started out flipping and transitioned to House Hacking, I would definitely agree with the people above. Don't get me wrong I made good money flipping but the risk is high and the learning curve is steep. Do a BRRRR house hack combo if you're wanting to do a renovation. I used the 203k loan to rehab a large project, house hack at the same time, and pulled out equity like I flipped it. Now it provides $2k a month in Cashflow 👍 and I continue doing that.

House hacking is one of the very best ways to get started. Usually lower risk than flipping, and keeps a roof over your head for cheaper than you can otherwise.

I wouldn’t remove it. If you’re not accredited most of grants funds are for accredited investors only