First Time House Hack - Multi-family - Building Team Timeline

[Justin Phen]

I'm a young W-2 engineer with a fiancée living in my parents' basement and eager to move out and invest in a multi-family home. From the books and podcasts, we've decided to house hack to start off. From these resources, I've learned that I need to build a team that includes a realtor, contractor, CPA, bookkeeper, lender, mentor, property manager, etc. 

I know there is no harm in building a relationship before I need them, but what should this timeline look like? 

Should I look to finding a great realtor in my area first, and does that cost me anything? 

I definitely know that talking to a CPA could cost me big bucks $$$ and I will have to do so along the road. What relationships can I build first before I start looking and buying a house and doesn't cost me a fortune?

I think that the first steps are crucial, and I don't expect to start running and hitting the ground hard. What were some things I should look out for, and what mistakes (common & uncommon, big or small) have you made starting out?

[Tim Johnson]

Hi @Justin Phen, welcome to the forums. (you sort of sound like an engineer....ready to solve those problems!) that's good by the way....

But my advice would be to not overthink it.

1. talk to a lender and find out what you can afford (the cost for this should be free)

2. find a good realtor that works with investors and understands your specific house-hacking goals and how the numbers need to work for you. (the cost of this should be free)

3. Buy the property. 

4. From here, as you move in and excitement and momentum grows.....you can make decisions about self-managing ....or hiring a PM, doing the bookkeeping yourself or getting a CPA, using a tax person....or not. You get the point. Let the team grow organically when needed.

Best wishes.