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Updated about 2 years ago,
Starting Out - House Hacking Advise Needed!
Hi guys! This is my first post in here and I wanted to start to build my investor network. I just turned 24 years old and have a goal of purchasing my first investment by the age of 25. I am relocating in June and want to utilize the house hacking strategy with multifamily (2-4 unit & FHA financing) . I just spent the last two years being a mortgage loan officers which introduced me to the real estate industry and grew my passion for investing in real estate. It also taught me so much about traditional mortgages but not so much hard money/DCSR/creative financing - much to learn there.
Hoping to make some connections, get some advice on things that I can do to prepare for my first purchase in June (I won't know where I am relocating until mid-march). I currently have about 45k saved up and am continuing to save but I was recently laid off from my job in august and am in the process of finding a new position.
Since i won't know where the relocation will be until mid march and will have to move in June (apartment lease ends june 31st) - do you think this will be sufficient time to find a property?
What are some challenges I might face?
All advice is welcome!!
Thank you in advanced