All Forum Posts by: Kayla Givens

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!

Hey, @Robert Hart! Congrats on getting started with your real estate investing journey! House hacking is the best and easiest way to get started and you'll find plenty of resources available to you here on BiggerPockets. 

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

Hey @Milena Blanch! Congrats on the sale of your townhouse! Sounds like it was a great investment and will get you into a great multifamily property. If I was in your shoes, I would definitely house hack and use as little money down as possible. That way, I can keep cash in reserves for any major cap-ex, OR, I can use that money to make improvements to the property and charge more for rent. I'd also want to keep some of that cash so that after a year, when I was ready to move on to my next house hack, I had the money for another down payment.

It definitely comes down to the numbers - which makes more sense for you with cash flow? 

Excited for you and hope you will keep us updated on what you choose to do!

Hey, @Osama Syed! Whle I have not done the BRRRR method myself, I am an experienced house hacker and have found that to be a very easy way to get your foot in the door with real estate investing. If you're able to cash flow in your market while living there, that would be ideal but a lot of people see a HUGE increase in cash flow once they move on to their next property and house hack the next. Just my two cents! Good luck!

Hey, @Vanessa Bautista! Congrats on your pre-approval! I'm going to echo what others have said here and recommend that you get started with a house hack. I don't know your market but if $300k can get you a multifamily property, I would buy one, live in one unit, and rent out the other. If that price point does not get you into multifamily, I'd recommend finding a single-family home that you can convert to a duplex with separate entrances or try a rent by the room strategy. After one year, you can rent your room/unit and repeat the process again with a new 3-5% down payment owner-occupied home!

Hey @Trevor Murphy! I have never personally applied for a permit from the city but know that many people in my area, Denver, do not do so. There are ways to get around permitting when you go to rent out your home and from what I know, zoning/permits are a complaint-based system. Meaning, don't upset the neighbors and you should be just fine :)

Hey, @Ashton Moore! Welcome to BiggerPockets! You are definitely in the right space to continue learning and getting started with real estate investing. Do you have a timeline for when you'd like to get started? Keep us all updated and keep reading ALL the books! ;-)

Hey, @Kian Faramarzi! If I could go back and tell my younger self some advice, it would be to NEVER STOP LEARNING! The words "I never want to own a house - too much work" came out of my mouth at one point and if I could go back and slap myself in the face I would do it 100 times. Spend time getting familiar with what you want to invest in. Learn all the strategies, create your own, talk with people that are doing it already. 

The easiest way to get your foot in the door is to house hack - buy a single-family or multi-family home, live in one room/unit, rent the others, rinse and repeat a year later. 

Sounds like you're already on the right path by being here - just keep learning and asking questions and like @Luke Trovinger said, get started!

Hey, @Korbin Ensley! Congrats on getting into the real estate game! When do you take your test?

For house hacking, you're definitely on the right track. It's one of the easiest ways to get started and you'll be able to take advantage of low down payment, lower cost of living/cash flow, and, in a year, rent out your unit and do it all again! 

Did you have any specific questions regarding your first deal? Happy to connect and answer any questions you might have!

Hey, @Nick Henry! Welcome to the wild world of real estate investing! I wish I had thought to get started in my early 20's like you!

I think you're on the right path here - sounds like you've got a good chunk of capital ready to be invested and a decent price range to work with. I would highly recommend house hacking to get started - lower cost of living/potential cash flow, low down payment (3-5%), and after a year, rent out your place and do it all over again!