All Forum Posts by: Phyo Sone

Quote from @Joshua Janus:

@Phyo Sone Have you connected with some local investor friendly realtors? They might have a stream of off market properties coming in that could include MFH that can cash flow. Might even be an opportunity to value add too. 

I have an agent. She’s awesome but I wouldn’t say she’s investor friendly. I have asked my agent to send me off market deals as well.

Quote from @Michael Dumler:

@Phyo Sone you can get creative when it comes to SFH house hack deals. I recommend searching for properties that have an in-law suite that can either be used for long-term or short-term AirBNB use. For your situation, I don't believe there is anything wrong with purchasing a SFH, living in the property for a year, then turning the home into a rental. That being said, if you do decide to go down that route, you need to run your numbers religiously and verify with local investors that the investment will perform. As others have mentioned, SFH can be just as hard to come by as 2-4 unit properties. Furthermore, you're tight on time given that your lease expires in 3 months. I would speak with your leasing agency ASAP to work out a month-to-month lease agreement until you find a suitable home. Hope this helps!

Yes, that definitely helps! I didn’t know to negotiate the month-to-month lease so I will start exploring that option. Living a year in SFH and turning it into a rental would be my plan (if I go with SFH) but I have heard that you have to either own 30% of your home after one year or have at least 2 years rental experience to be able to turn your SFH into a rental. So in total, I will have to live in the home for at least 3 years to do this. If I am misinformed, please correct me. Thanks!

I have been looking in the market to buy a duplex as my first home purchase but it's has been hard to find a cash-flowing duplex (calculated based on what I will get after I have moved out) that's within my price range. Because of this, I am starting to consider buying a single-family home since my apartment lease is ending in about 3 months and the rents in my area will be as high as a mortgage payment on some homes. Should I pull the trigger on buying an SFH or rent for the moment and keep looking for a duplex? If I go to the SFH, what are my options? I know I can house hack with SFH but I don't like the idea of losing my privacy. Thanks in advance!

I am looking for duplexes in the following area: Dallas county, Collin county, Denton county

Quote from @Dillon Cook:

What price range are you looking at? House hacking a multi is tough right now because there's a lot of competition and no supply. Finding something that you personally want to live in and getting a deal for it is impossible. Would recommend the SFH route for the areas you want to be in.

Hi, I am not the original poster. However, I have been looking for a duplex in the Dallas, Texas area for the last couple of months and your comment on finding a multi-family to house hack has been true for me. Multi-family in areas that I would personally like to live in has been hard to come by and when I do, the property doesn't cash flow with both sides rented out. Because of this, I am beginning to consider SFH but I am not sold on the idea yet since this is will be my first home purchase and I have been stuck on getting a duplex as my first home to kickstart my REI. Could you please explain why you would still recommend getting an SFH? I would love to learn from someone with more experience on this since I might be missing something. Thanks!

Quote from @Dillon Cook:

What price range are you looking at? House hacking a multi is tough right now because there's a lot of competition and no supply. Finding something that you personally want to live in and getting a deal for it is impossible. Would recommend the SFH route for the areas you want to be in.

Hi, I am not the original poster. However, I have been looking for a duplex in the Dallas, Texas area for the last couple of months and your comment on finding a multi-family to house hack has been true for me. Multi-family in areas that I would personally like to live in has been hard to come by and when I do, the property doesn't cash flow with both sides rented out. Because of this, I am beginning to consider SFH but I am not sold on the idea yet since this is will be my first home purchase and I have been stuck on getting a duplex as my first home to kickstart my REI. Could you please explain why you would still recommend getting an SFH? I would love to learn from someone with more experience on this since I might be missing something. Thanks!

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*This link comes directly from our calculators, based on information input by the member who posted. 

Newbie here, just doing my practice on analyzing deals. I have gotten negative cash flow on every deal that I have tried. Am I doing something wrong here or the deals are just bad. Please advice.