All Forum Posts by: Kayla Givens

Hey, @Marcus Amison! I would recommend starting by finding an investor-friendly agent. If they know what they're doing, they should have a few lenders that are also investor-friendly that they can refer you to!

Hey, @Sean McGrady! Congrats on having a plan in place post-graduation - I have said it many times before but I wish I would have started house hacking when I was your age! @Alex Roter has you on the right path with the 203k loan - I would definitely check that out and see if you could that locked up. HELOC would be a great way to go as well but you may have to wait until your loan to value ratios are much higher.

Bottom line, if you don't have a ton of capital, I would focus on saving for your 3.5% down payment and find a home that doesn't need much more than cosmetic fixes. Continue to build your portfolio through house hacking and maybe think about finding a partner to from capital for your BRRRR's. Hope that helps!

Hey, @Austin Haynes! Congrats on getting started on your real estate investing journey! For some, the hardest part is getting started and it sounds like you have a pretty good strategy in place. 

I got my first house hack back in April--SFH with 4 beds and 2 baths. My boyfriend and I lived in the basement and rented out the upstairs rooms with only common areas being the kitchen and laundry. One thing I wish I had really considered is just how much going from one roommate (my boyfriend) to multiple roommates would impact my stress levels lol. If I could go back, I would get myself into a house that had a separate entrance or try to go for a multifamily property.

If you haven't already, I would check out Craig Curelop's book about House Hacking - tons of great information in there for first time house hackers like yourself. Best of luck!!

Hey, @Max Ortiz! I am gonig to echo what @Craig Anderson said -- if you're looking in a more expensive market you are also looking at a good amount of equity and appreciation over time. That said, if you are looking at house hacking numbers and not seeing a ton of cash flow at first I wouldn't let that scare you. I am in very competitive and high priced market (Denver) and a lot of house hackers don't expect to see any cash flow until after they move out. Typically, they expect to see a lower cost of living while they're living there and are okay with that knowing they will reap the benefits of learning how to manage their rental, screen tenants, and will see equity and appreciation and hopefully, a decent amount of cash flow after they move on to their next house hack. 

Analysis paralysis is a real thing - if you find something that sounds good and you think you'd be comfortable doing it, go for it!

Hey, @Eric Stugart! I house hack a single family home in Englewood, CO and know plenty of other investors in my market that do the same. It all depends on your comfort level having roommates that you will interact with daily. You may also consider a SFH that has a wet bar (easily add kitchenette) and ability to create a second entrance - that way, if you don't want to interact with your tenants you don't have to :)

Hey, @Joey Gorombey! I am going to second @Michael Plante and say that you need to talk to another agent. FHA does allow for you to purchase a multifamily property (2-4 units) and occupy one of the units. If you were looking to use the FHA as an investment property, that would not be possible.

Where are you located? Would be happy to connect you with an investor-friendly agent if I have someone!

Hey, @Delvon! If you're planning to take out a mortgage for each property then you will have to have your credit pulled. I believe this is true with any type of lending. 

Hey, @Payson Scott! I love where your head is at with asking all of these questions. I've said it multiple times on here but if I could go back and change one thing about my real estate investing, I would have started it as soon as possible!! Do you have a job while you're in school? Have you thought about house hacking? That would be an amazing way to get your foot in the door with investing - buy a house with 3-5% down, live in it with some roommates, finish your degree, and move on to your next property after you graduate. 

Just a thought and would be happy to connect more about it!! Like others have said, this is a very personal decision and you should really do whatever you think will put you in the best position for your future. 

Hey @Sheratanairy Flores! I am not familiar with the Florida market but I am curious to know what the cash flow looks like after you move out of your house hack? Could you live with having a lower cost of living for a year and then seeing cash flow after you move out? I am in Denver and it is HARD to find house hacks that cash flow right away - typically you have to find something with at least 5 bedrooms or implement a short-term rental model. I advise my buyers to look at the numbers right now and look at the numbers when your unit/room is rented. Also, you will want to consider the equity and appreciation you'll be building in a hotter market - could be worth it to buy in your current area for that alone :)

Hey, @Nathaniel Hirschler! Echoing everything @Marco Martinetti shared above -- House Hacking is the way if you can find the right property and have some friends that would be willing to live with you. Even if your living expenses aren't fully covered, your cost of living could be significantly lowered. I would also recommend checking out Craig Curelop's book on house hacking - he got very creative with his strategy and was able to have all of his living expenses covered!

Best of luck to you and hope you will keep us updated along the way!