All Forum Posts by: Ty Ash

Hi @Paul Farley!

Huge fan of the house hack but I'd recommend that you keep/start learning! This can be done through Podcasts, Books, and Mentors you find by networking.

I'd pick up a copy of Set for Life by Scott Trench as it has a good framework for financial independence, especially for a newer investor. Real Estate is just a part of your total financial picture so don't become too focused on just real estate. You'll want to learn more ways to increase your income now and in the future, keep your expenses low, and take the difference to invest into assets, real estate/business.

As already mentioned above, a house hack will probably be one of the best strategies for you to get started and take action while giving you a great return because of the low % down needed to get started. Once you get to this point, make sure to run your numbers for both while living in the house hack (lowering your living expense to less than what it would be to rent in your area) and post move out where you need to be at least break even after accounting for your monthly payment + maintenance, capex, vacancy, property management.

Here's a great resource right here on BP:

https://www.biggerpockets.com/real-estate-investing/house-hacking-strategy

Best of luck getting started! Here for you with any questions you have along the way!

Join us for a hybrid, in-person and online event to meet other Milwaukee real estate investors and learn more about the state of the Milwaukee Real Estate Market.

No matter which Real Estate strategy you use, we'd love to see you in person or online to get to know you! All are welcome.

The agenda is as follows:
-Arrive 15 min early to grab a beverage for anyone in person
-Investor Introductions, 3 min / person (online and in person): Name, Location, Strategy, Needs, How you can help other investors
-Milwaukee Market Update (duplex and multi-family focus)
-Question & Answer, Open Forum

Location: Expansive, Wauwatosa and Google Meets
Event Information: LINK with all information and click attending on BP!

Time: 7:00-8:30 PM CST, hoping to accommodate all time zones!

Hope to see you there!

Hi @Dustin Moon!

I recommend using the find an investor friendly agent. Usually your agent will be able to guide you to lenders that are locally recognized and are experienced in the loans that you want to use to house hack. 

Here's my generic advice on house hacking as well. Super excited for you!

Keep/start learning! This can be done through Podcasts, Books, and Mentors you find by networking. Sounds like you're well on your way to doing all of these things.

I'd pick up a copy of Set for Life by Scott Trench as it has a good framework for financial independence, especially for a newer investor. Real Estate is just a part of your total financial picture so don't become too focused on just real estate. You'll want to learn more ways to increase your income now and in the future, keep your expenses low, and take the difference to invest into assets, real estate/business.

A house hack will probably be one of the best strategies for you to get started and take action while giving you a great return because of the low % down needed to get started. Once you get to this point, make sure to run your numbers for both while living in the house hack (lowering your living expense to less than what it would be to rent in your area) and post move out where you need to be at least break even after accounting for your monthly payment + maintenance, capex, vacancy, property management.

Here's a great resource right here on BP:

https://www.biggerpockets.com/real-estate-investing/house-hacking-strategy

Best of luck getting started! Here for you with any questions you have along the way!

Hi @Account Closed!

I'd recommend that you keep/start learning! This can be done through Podcasts, Books, and Mentors you find by networking. This will help take away some of the uncertainty you're facing.

I'd pick up a copy of Set for Life by Scott Trench as it has a good framework for financial independence, especially for a newer investor. Real Estate is just a part of your total financial picture so don't become too focused on just real estate. You'll want to learn more ways to increase your income now and in the future, keep your expenses low, and take the difference to invest into assets, real estate/business.

I'm a strong believer in getting started with a house hack. This will probably be one of the best strategies for you to get started and take action while giving you a great return because of the low % down needed to get started. Once you get to this point, make sure to run your numbers for both while living in the house hack (lowering your living expense to less than what it would be to rent in your area) and post move out where you need to be at least break even after accounting for your monthly payment + maintenance, capex, vacancy, property management.

Here's a great resource right here on BP:

https://www.biggerpockets.com/real-estate-investing/house-hacking-strategy

Most of the podcasters started out with a form of house hacking to get their snow ball rolling. Best of luck getting started! Here for you with any questions you have along the way!

Hi @Owen J Titus!

I'd recommend that you keep/start learning! This can be done through Podcasts, Books, and Mentors you find by networking.

I'd pick up a copy of Set for Life by Scott Trench as it has a good framework for financial independence, especially for a newer investor. Real Estate is just a part of your total financial picture so don't become too focused on just real estate. You'll want to learn more ways to increase your income now and in the future, keep your expenses low, and take the difference to invest into assets, real estate/business.

In my opinion, a house hack will probably be one of the best strategies for you to get started and take action while giving you a great return because of the low % down needed to get started. Once you get to this point, make sure to run your numbers for both while living in the house hack (lowering your living expense to less than what it would be to rent in your area) and post move out where you need to be at least break even after accounting for your monthly payment + maintenance, capex, vacancy, property management.

Here's a great resource right here on BP:

https://www.biggerpockets.com/real-estate-investing/house-hacking-strategy

Best of luck getting started! Here for you with any questions you have along the way!

Hi @Aiden Huseboe!

I see you're a local Wisconsinite! Glad to see you jumping into the forums.

I'd recommend that you keep/start learning! This can be done through Podcasts, Books, and Mentors you find by networking.

I'd pick up a copy of Set for Life by Scott Trench as it has a good framework for financial independence, especially for a newer investor. Real Estate is just a part of your total financial picture so don't become too focused on just real estate. You'll want to learn more ways to increase your income now and in the future, keep your expenses low, and take the difference to invest into assets, real estate/business.

As already mentioned above, a house hack will probably be one of the best strategies for you to get started and take action while giving you a great return because of the low % down needed to get started. Once you get to this point, make sure to run your numbers for both while living in the house hack (lowering your living expense to less than what it would be to rent in your area) and post move out where you need to be at least break even after accounting for your monthly payment + maintenance, capex, vacancy, property management.

Here's a great resource right here on BP:

https://www.biggerpockets.com/real-estate-investing/house-hacking-strategy

Best of luck getting started! Here for you with any questions you have along the way!

Are you curious about what’s going on in your local housing market? In my monthly video I cover national headlines, housing stats, duplex inventory in Milwaukee County, and what it means for buyers and sellers.

Here is the update for September 2022 in the Milwaukee 4 county area:

Sold Listings 1,600 homes, -19% to LY.
Active listings 1,000 homes, -24% to LY.
Compare this to the national active listings versus a year ago at +27%

Why is Milwaukee different from the national housing market?

New listings were -23% last month meaning we’re not replacing the inventory that’s selling. Also, the positive 5% spread between Sold Listings -19% and Active Listings -24% further decreases our Months of Supply of homes for sale, 1.8 months vs 1.9 months a year ago.

Now shifting to Interest rates, they are certainly impacting buyer demand nationally and locally sitting around 7% but homes are still going under contract in the first couple of weeks on average. To combat the rates, buyers and sellers are getting creative with strategies like the 2/1 Rate Buy Down.

With all of these supply and demand considerations it’s no surprise that homes are not only holding their value, but actually increased 10% to last year.

I'm curious, what are you seeing in your local market?

Hi @Tim Alhanati!

I'd recommend that you keep/start learning! This can be done through Podcasts, Books, and Mentors you find by networking.

I'd pick up a copy of Set for Life by Scott Trench as it has a good framework for financial independence, especially for a newer investor. Real Estate is just a part of your total financial picture so don't become too focused on just real estate. You'll want to learn more ways to increase your income now and in the future, keep your expenses low, and take the difference to invest into assets, real estate/business.

As already mentioned above, a house hack will probably be one of the best strategies for you to get started and take action while giving you a great return because of the low % down needed to get started. Once you get to this point, make sure to run your numbers for both while living in the house hack (lowering your living expense to less than what it would be to rent in your area) and post move out where you need to be at least break even after accounting for your monthly payment + maintenance, capex, vacancy, property management.

Here's a great resource right here on BP:

https://www.biggerpockets.com/real-estate-investing/house-hacking-strategy

You don't have to stay there forever and can be done multiple times until you finally get to that bigger, forever home. Best of luck getting started! Here for you with any questions you have along the way!

Hi @George S freeman!

I'd recommend that you keep/start learning! This can be done through Podcasts, Books, and Mentors you find by networking.

I'd pick up a copy of Set for Life by Scott Trench as it has a good framework for financial independence, especially for a newer investor. Real Estate is just a part of your total financial picture so don't become too focused on just real estate. You'll want to learn more ways to increase your income now and in the future, keep your expenses low, and take the difference to invest into assets, real estate/business.

Best of luck getting started! Here for you with any questions you have along the way!

Hi @Armin Rostami!

I'd recommend that you keep/start learning! This can be done through Podcasts, Books, and Mentors you find by networking.

I'd pick up a copy of Set for Life by Scott Trench as it has a good framework for financial independence, especially for a newer investor. Real Estate is just a part of your total financial picture so don't become too focused on just real estate. You'll want to learn more ways to increase your income now and in the future, keep your expenses low, and take the difference to invest into assets, real estate/business.

As already mentioned above, a house hack will probably be one of the best strategies for you to get started and take action while giving you a great return because of the low % down needed to get started. Once you get to this point, make sure to run your numbers for both while living in the house hack (lowering your living expense to less than what it would be to rent in your area) and post move out where you need to be at least break even after accounting for your monthly payment + maintenance, capex, vacancy, property management. Interest rates today may create some headwinds here so make sure to read up on the experts thoughts on refinance opportunities in the future.

Here's a great resource right here on BP:

https://www.biggerpockets.com/real-estate-investing/house-hacking-strategy

Best of luck getting started! Here for you with any questions you have along the way!