All Forum Posts by: Sean Ramuchak

@John Lyszczyk - thanks for the tips! I am actually planning to spend the rest of this year through December studying and forming a better understanding of the industry and terms, etc. Around January of next year is when I will seriously start considering the properties that I am analyzing; this will allow me some extra time to save money for a down payment and also re-evaluate my current living situation! 

@Theresa Harris - I have considered the duplex option and that would actually be ideal, I'm just not sure if I'll be able to find that in the area of Atlanta I really want to stay in. I'm keeping all option open though and I'll be exploring options in the suburbs as well. Thanks!

@Rashaun Forrest - I definitely get what you mean by making sure I am in control of the property and can afford all of my expenses without relying on income from a tenant or other means. I was really looking for someone to tell me I wouldn't be breaking some golden rule IF I did choose to buy an investment property while still renting my own apartment haha. Thanks for the feedback! 

@Suzy Sevier - the last half of my post is the question. I'm looking for advice and opinions on whether getting into investment while I'm currently having to pay rent to someone else sounds doable or like a bad idea. House hacking seems like the best first step but giving up my nice apartment locations and amenities and having to live with someone I probably don't know makes me a bit nervous so this is what is holding me back.

My name is Sean and I've been interested in real estate investment for a few years now. I am just over a year out of college and began researching real estate and how the investment process works a couple of weeks ago (the goal is to buy my first property next year -- 2021). 

Currently, I am renting an apartment in the Buckhead area of Atlanta, GA and I really enjoy this location and the amenities/community of the building. It seems like the only way I'll be able to afford my first investment property is if I took my monthly rent and put it towards a "house hacking" property where I would basically be living with a random person (which also makes me nervous). 

I'm wondering if this is pretty much my only option if I want to move forward with real estate investing or if anyone has some tips about how to have the best of both worlds? Has anyone gotten into real estate investment WHILE paying their own rent somewhere else; does this sound like a dumb idea; all suggestions are welcome?